Mar 04

Ruth Lee

The NPR reported today:

“It’s widely believed that inflated home appraisals played a major role in the mortgage meltdown. Now, Fannie Mae and Freddie Mac, two heavyweights in the mortgage finance business, have agreed that they will only purchase loans that meet new standards for independent appraisals.”

If you are as stunned as I was, you can click the through and listen to the full report here. It also gives some interesting information on the new Fannie Freddie appraisal institute…

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