Comments on: Fannie’s Loan Buyback Sophistry Relies on Modifying Analysts’ Behavior

By: Sue Louisignau on Facebook

Sue Louisignau on Facebook — Thu, 07 Mar 2024 19:45:17 +0000

Visited cousin + wife in Miami..couldn’t believe when I told them about FNMA antics. Both retired admin heads of banks..my cousin Northern Trust. Both saying this isn’t happening in FL. Gov. would never let them do this. They are stunned

By: Jeff Pitts on Facebook

Jeff Pitts on Facebook — Fri, 17 Nov 2023 19:01:15 +0000

In reply to Sue Louisignau on Facebook.

Sue Louisignau we range from appraisals in a beach resort area to rural properties. The county has it all in the way of work, and we are expected to know it all, especially with so little work coming in. Fannie Mae is trying to get rid of us there is no doubt in my mind.

By: Sue Louisignau on Facebook

Sue Louisignau on Facebook — Fri, 17 Nov 2023 18:57:52 +0000

In reply to Jeff Pitts on Facebook.

Jeff Pitts I am a rural appraiser with lots of experience…. but retired my SRA a few years ago as no one cared. Still have an RA with MBREA in MA Cover rural southern VT, Part of w MA NH where 3 states meet. DID do an appraisal year ago. FNMA called it out to lender as I didn’t use sales on same road…. not at all comparable. Did an in-depth rebuttal bank thought was good. FNMA still made lender buy back. There are few comps period in my area

By: Baggins

Baggins — Tue, 17 Oct 2023 18:18:56 +0000

https://appraisersblogs.com/justice-4-texas-appraiser-ninety-nine-thousand-dollars-price-tag
Mr Bagott, another home run. Back story before as much clarity was achieved.

https://singlefamily.fanniemae.com/media/22391/display
https://singlefamily.fanniemae.com/media/25741/display
https://singlefamily.fanniemae.com/media/20576/display
https://www.duvalidationcenter.com/media/standard/DU-Validation-Service-Checklist.pdf
Related GSE content. Search for Collateral Underwriter, with various other keywords like review, validation, checklist, lender guide, etc. Your best defense is a good offense and presume the maximum amount of compliance points are necessary. DU eliminated all low risk work and non complex tasks for trainees. Appraisal ‘modernization’ is for the birds.

By: Jeff Pitts on Facebook

Jeff Pitts on Facebook — Tue, 17 Oct 2023 16:50:28 +0000

Interesting for sure. Makes you not want to do a challenging appraisal. I saw some rural appraiser yesterday say most of their appraisals have a low amount of data in which to analyze, that probably makes them stand out to these analysts.

By: Charles Minzenberger, SRA

Charles Minzenberger, SRA — Mon, 16 Oct 2023 19:37:08 +0000

This is very scary, its almost certain every appraiser that does lending work will get a letter asking them to defend a file, even the most seasoned appraiser would be rattled. But to say actual people are reading these files with actual complaints is BS simply based on the nebulous questions … “Do the comparable sale selections make sense? Is the data accurate? Did the appraiser make appropriate adjustments? Are we getting the most probable value?” Without a specific citing in the report these questions are way too general. It would be reasonable to just respond with: yes; yes; yes, we believe so; yes, in our opinion.

By: Eric Kretz

Eric Kretz — Mon, 16 Oct 2023 19:18:50 +0000

“The stepped-up repurchase demands are based on analysts at Fannie Mae trying to hit their numbers.”

That is the most ironic statement ever.

By: Jeanie

Jeanie — Mon, 16 Oct 2023 19:08:19 +0000

It’s pure fraud. To think that some thought CU was some magic elixir.

By: Dave

Dave — Mon, 16 Oct 2023 16:27:25 +0000

“Fannie’s analysts complain they are now pushed to validate the automated system’s findings, s (said the insider)”. – AVM’S HELLO Lyle Radke! The integrity of their entire system depends upon binary quality and condition codes. Binary = either or. As we travel into the land of more risk – high loan to value ratios and lessoning of borrower requirements) Fannie’s pitiful collateral underwriting poor algorithms will lead to chaos.