I’m starting to sense something of a theme in some recent news pieces about the housing market. Consider the following quotes from two recent articles (emphasis mine). Reuters, June 22: Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the…
Tag: appraisal
Cramdowns Rejected by Senate, Appraisals Insulated from Banks
Two good news stories on the national front that are worth sharing this morning. Story 1: Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk The U.S. Senate rejected a measure that would let bankruptcy judges cut mortgage terms to help borrowers avoid foreclosure, a victory for banks and credit unions that said the legislation would increase…
Appraisers “Pressured to Hit the Value Every Time”
And the understatement of the week goes to… Aubrey Cohen of the Seattle P-I, for his sub-headline gem: “As market slows, buyers may find they paid too much“. Moss blankets the house’s roof. The siding is rotting off. And mold has spread through the interior. But the home’s condition is “average,” according to an appraisal….