FHA Appraiser Tip: I Told You FHA Was On The Way To Imploding

http://www.realestateappraisertips.info/ – FHA Appraiser Tip: I Told You FHA Was On The Way To Imploding

It was about 1.5 years ago that I starting saying that we the U.S. Taxpayers would be bailing out FHA. After the mortgage meltdown, when FHA became the “Savoir” of the mortgage market, I began to receiving an increase in calls from the same slimy national mortgage brokers that I had already turned down doing appraisal work for because they seemed to always need $10,000 to $20,000 more than the homes were worth. They didn’t want home appraisals; they wanted a target value hitter. EXCEPT, NOW THEY WERE USING FHA LOANS FOR THEIR DIRTY (UPSIDE DOWN) LOANS. I knew then and there that FHA was in for problems.

From Appraisal Scoop, FHA, Active Rain, Inman News and the list goes on and on….Now the flood of news since yesterday reveals rumblings within FHA that losses are increasing and that FHA is implementing Appraisal Standards similar to HVCC. This is and will get more interesting as time progresses. Remember what I said above about the “slimy mortgage brokers”? Why is FHA reacting with stricter appraisal policy when it’s the slimy mortgage brokers that are wolves wearing sheep’s clothing?

If you enjoyed this article, you might also like...:

1. Mary Thompson, GA Appraiser, Outlines FHA’s Move Towards HVCC Appraisal Rules….Get Ready For More Change!
2. I Told You This Wasn’t Just Another Real Estate Appraisers News Site…Teaching Appraisers Article Marketing and Press Releases in 2010!
3. Real Estate Appraiser Video Marketing Tips
4. Attention Real Estate Appraisers: Inman News Article Out Today: Wanted: ‘Credible’ Appraisals
5. Appraisers: Inman News Has News On Fannie Mae’s New Guidelines For Choosing Appraisers and Comps