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ParticipantThe kid-stressor thing was just something I was passing along. It was presented as a factoid in some article I read. I couldn’t vouch for its truthiness.
Speaking for myself, a lot of what I “know” about being a human being is stuff I learned from my kids. I still think there are a lot of guys who have no business allowing their wives/girlfriends to have kids, though.
ParticipantThe kid-stressor thing was just something I was passing along. It was presented as a factoid in some article I read. I couldn’t vouch for its truthiness.
Speaking for myself, a lot of what I “know” about being a human being is stuff I learned from my kids. I still think there are a lot of guys who have no business allowing their wives/girlfriends to have kids, though.
ParticipantThe kid-stressor thing was just something I was passing along. It was presented as a factoid in some article I read. I couldn’t vouch for its truthiness.
Speaking for myself, a lot of what I “know” about being a human being is stuff I learned from my kids. I still think there are a lot of guys who have no business allowing their wives/girlfriends to have kids, though.
ParticipantThe kid-stressor thing was just something I was passing along. It was presented as a factoid in some article I read. I couldn’t vouch for its truthiness.
Speaking for myself, a lot of what I “know” about being a human being is stuff I learned from my kids. I still think there are a lot of guys who have no business allowing their wives/girlfriends to have kids, though.
ParticipantBanking laws actually require lending institutions to be responsible for the apprasals they use. That means they have the discretion to pick-n-choose thier appraisers. Actually, that was the way it used to be – prior to the rise of the internet and boilerroom loan origination programs an appraiser’s success was entirely dependent on how many direct lenders they could persuade to do business with them.
Mortgage brokers commonly call themselves lenders but I try not to let them get away with that. At this point they have complete control over the appraisers they use.
However, that’s something that may change in the very near future.
Fannie Mae and Freddie Mac have entered into a binding agreement with the New York Attorney General (Andrew Cuomo) with respect to appraisals. It’s kinda like a plea bargain arrangement, in exchange for which the NY AG has agreed to drop his inquiries into their lending practices.
Fannie/Freddie have agreed to stop accepting mortgage packages that include appraisals that were engaged by mortgage brokers, and prohibits the direct lenders from allowing their loan production staff to engage the appraisers. If this agreement is ratified, the direct lenders will be required to do all their appraisal engagements either through their own appraisal departments or through some third party that’s not part of either the mortgage brokerage or the lender.
Needless to say, the mortgage brokers are pretty frantic right now. This agreement basically strips them of all control or influence over any of the appraisals.
It just remains to be seen whether the mortgage banking lobby can somehow invalidate this agreement.
ParticipantBanking laws actually require lending institutions to be responsible for the apprasals they use. That means they have the discretion to pick-n-choose thier appraisers. Actually, that was the way it used to be – prior to the rise of the internet and boilerroom loan origination programs an appraiser’s success was entirely dependent on how many direct lenders they could persuade to do business with them.
Mortgage brokers commonly call themselves lenders but I try not to let them get away with that. At this point they have complete control over the appraisers they use.
However, that’s something that may change in the very near future.
Fannie Mae and Freddie Mac have entered into a binding agreement with the New York Attorney General (Andrew Cuomo) with respect to appraisals. It’s kinda like a plea bargain arrangement, in exchange for which the NY AG has agreed to drop his inquiries into their lending practices.
Fannie/Freddie have agreed to stop accepting mortgage packages that include appraisals that were engaged by mortgage brokers, and prohibits the direct lenders from allowing their loan production staff to engage the appraisers. If this agreement is ratified, the direct lenders will be required to do all their appraisal engagements either through their own appraisal departments or through some third party that’s not part of either the mortgage brokerage or the lender.
Needless to say, the mortgage brokers are pretty frantic right now. This agreement basically strips them of all control or influence over any of the appraisals.
It just remains to be seen whether the mortgage banking lobby can somehow invalidate this agreement.
ParticipantBanking laws actually require lending institutions to be responsible for the apprasals they use. That means they have the discretion to pick-n-choose thier appraisers. Actually, that was the way it used to be – prior to the rise of the internet and boilerroom loan origination programs an appraiser’s success was entirely dependent on how many direct lenders they could persuade to do business with them.
Mortgage brokers commonly call themselves lenders but I try not to let them get away with that. At this point they have complete control over the appraisers they use.
However, that’s something that may change in the very near future.
Fannie Mae and Freddie Mac have entered into a binding agreement with the New York Attorney General (Andrew Cuomo) with respect to appraisals. It’s kinda like a plea bargain arrangement, in exchange for which the NY AG has agreed to drop his inquiries into their lending practices.
Fannie/Freddie have agreed to stop accepting mortgage packages that include appraisals that were engaged by mortgage brokers, and prohibits the direct lenders from allowing their loan production staff to engage the appraisers. If this agreement is ratified, the direct lenders will be required to do all their appraisal engagements either through their own appraisal departments or through some third party that’s not part of either the mortgage brokerage or the lender.
Needless to say, the mortgage brokers are pretty frantic right now. This agreement basically strips them of all control or influence over any of the appraisals.
It just remains to be seen whether the mortgage banking lobby can somehow invalidate this agreement.
ParticipantBanking laws actually require lending institutions to be responsible for the apprasals they use. That means they have the discretion to pick-n-choose thier appraisers. Actually, that was the way it used to be – prior to the rise of the internet and boilerroom loan origination programs an appraiser’s success was entirely dependent on how many direct lenders they could persuade to do business with them.
Mortgage brokers commonly call themselves lenders but I try not to let them get away with that. At this point they have complete control over the appraisers they use.
However, that’s something that may change in the very near future.
Fannie Mae and Freddie Mac have entered into a binding agreement with the New York Attorney General (Andrew Cuomo) with respect to appraisals. It’s kinda like a plea bargain arrangement, in exchange for which the NY AG has agreed to drop his inquiries into their lending practices.
Fannie/Freddie have agreed to stop accepting mortgage packages that include appraisals that were engaged by mortgage brokers, and prohibits the direct lenders from allowing their loan production staff to engage the appraisers. If this agreement is ratified, the direct lenders will be required to do all their appraisal engagements either through their own appraisal departments or through some third party that’s not part of either the mortgage brokerage or the lender.
Needless to say, the mortgage brokers are pretty frantic right now. This agreement basically strips them of all control or influence over any of the appraisals.
It just remains to be seen whether the mortgage banking lobby can somehow invalidate this agreement.
ParticipantBanking laws actually require lending institutions to be responsible for the apprasals they use. That means they have the discretion to pick-n-choose thier appraisers. Actually, that was the way it used to be – prior to the rise of the internet and boilerroom loan origination programs an appraiser’s success was entirely dependent on how many direct lenders they could persuade to do business with them.
Mortgage brokers commonly call themselves lenders but I try not to let them get away with that. At this point they have complete control over the appraisers they use.
However, that’s something that may change in the very near future.
Fannie Mae and Freddie Mac have entered into a binding agreement with the New York Attorney General (Andrew Cuomo) with respect to appraisals. It’s kinda like a plea bargain arrangement, in exchange for which the NY AG has agreed to drop his inquiries into their lending practices.
Fannie/Freddie have agreed to stop accepting mortgage packages that include appraisals that were engaged by mortgage brokers, and prohibits the direct lenders from allowing their loan production staff to engage the appraisers. If this agreement is ratified, the direct lenders will be required to do all their appraisal engagements either through their own appraisal departments or through some third party that’s not part of either the mortgage brokerage or the lender.
Needless to say, the mortgage brokers are pretty frantic right now. This agreement basically strips them of all control or influence over any of the appraisals.
It just remains to be seen whether the mortgage banking lobby can somehow invalidate this agreement.
ParticipantReading back on my comments I realized that I may have come across as anti-kid, which is about as far from the truth as can be. I have three kids of my own from my first marriage, and I married a women (a saint, really) who had 2 kids of her own. After a fashion we were the Brady Bunch.
One of my main criteria when I chose my current mate was being a good parent because that was very much part of my identity at the time. If raising one kid is difficult, raising kids in a blended family takes that difficulty to a whole different level.
But I very much am who I am today in part because of my kids. Today, they all still live in SD County and a couple of them are still at home (students). Someone mentioned earlier that the heavy committment lasts for 2 decades; but really, there is no end to it. Once you’re a parent, you’re never really “free” of it. There’s only variations of involvement, depending on how well you’ve built your relationships.
As for the three? You can blame my ex for that – I do.
ParticipantReading back on my comments I realized that I may have come across as anti-kid, which is about as far from the truth as can be. I have three kids of my own from my first marriage, and I married a women (a saint, really) who had 2 kids of her own. After a fashion we were the Brady Bunch.
One of my main criteria when I chose my current mate was being a good parent because that was very much part of my identity at the time. If raising one kid is difficult, raising kids in a blended family takes that difficulty to a whole different level.
But I very much am who I am today in part because of my kids. Today, they all still live in SD County and a couple of them are still at home (students). Someone mentioned earlier that the heavy committment lasts for 2 decades; but really, there is no end to it. Once you’re a parent, you’re never really “free” of it. There’s only variations of involvement, depending on how well you’ve built your relationships.
As for the three? You can blame my ex for that – I do.
ParticipantReading back on my comments I realized that I may have come across as anti-kid, which is about as far from the truth as can be. I have three kids of my own from my first marriage, and I married a women (a saint, really) who had 2 kids of her own. After a fashion we were the Brady Bunch.
One of my main criteria when I chose my current mate was being a good parent because that was very much part of my identity at the time. If raising one kid is difficult, raising kids in a blended family takes that difficulty to a whole different level.
But I very much am who I am today in part because of my kids. Today, they all still live in SD County and a couple of them are still at home (students). Someone mentioned earlier that the heavy committment lasts for 2 decades; but really, there is no end to it. Once you’re a parent, you’re never really “free” of it. There’s only variations of involvement, depending on how well you’ve built your relationships.
As for the three? You can blame my ex for that – I do.
ParticipantReading back on my comments I realized that I may have come across as anti-kid, which is about as far from the truth as can be. I have three kids of my own from my first marriage, and I married a women (a saint, really) who had 2 kids of her own. After a fashion we were the Brady Bunch.
One of my main criteria when I chose my current mate was being a good parent because that was very much part of my identity at the time. If raising one kid is difficult, raising kids in a blended family takes that difficulty to a whole different level.
But I very much am who I am today in part because of my kids. Today, they all still live in SD County and a couple of them are still at home (students). Someone mentioned earlier that the heavy committment lasts for 2 decades; but really, there is no end to it. Once you’re a parent, you’re never really “free” of it. There’s only variations of involvement, depending on how well you’ve built your relationships.
As for the three? You can blame my ex for that – I do.
ParticipantReading back on my comments I realized that I may have come across as anti-kid, which is about as far from the truth as can be. I have three kids of my own from my first marriage, and I married a women (a saint, really) who had 2 kids of her own. After a fashion we were the Brady Bunch.
One of my main criteria when I chose my current mate was being a good parent because that was very much part of my identity at the time. If raising one kid is difficult, raising kids in a blended family takes that difficulty to a whole different level.
But I very much am who I am today in part because of my kids. Today, they all still live in SD County and a couple of them are still at home (students). Someone mentioned earlier that the heavy committment lasts for 2 decades; but really, there is no end to it. Once you’re a parent, you’re never really “free” of it. There’s only variations of involvement, depending on how well you’ve built your relationships.
As for the three? You can blame my ex for that – I do.
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