Many of these compartmentalized actions only make sense in a box. Looking at the bigger picture, one begins to understand the goals of originators have moved so far away from consumer protection, caring about anyone or anything other than their own companies bottom line is an afterthought.

If consumers want to absolutely protect themselves in the lending environment, they’ll simply need to adapt to requesting fewer loans, and shorten the terms if they are able.

A ‘forward mortgage’ is simply called a mortgage. It requires no dictionary of Institutionalized Ignorance.

This is how ‘desk appraisals based on field inspection by unlicensed incompetents came to be referred to as ‘bifurcated hybrid appraisals. Use of alternative euphemisms is a first step in trying to make garbage products appear legitimate.

As for relaxed condo requirements by FHA, if it helps borrowers, great. A standard used long ago was that if a project had stood for over a year, then it was eligible even if it wasn’t originally built to SHA/HUD pre approval specs.