Now, what we need is to get a look at the appraisals used to value the collateral for those loans. It would also be interesting to take a long, leisurely look at the workfiles; particularly the communication between the loan origination staff and the appraiser. Do you reckon there may have been a little bit of pressure?
Are you as curious as I am?
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Here is a logical assumption:
FNMA has stated that appraisal quality has significantly since HVCC reduced appraiser income by 50%.
Shouldn't appraisals be flawless if we cut the appraiser's fee by another 50%?
Problem solved. No more puffery...no more appraisers.
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