"NAR Statement on Actions to Stabilize The Secondary Mortgage Market
WASHINGTON, September 08, 2008
The following is a statement by National Association of Realtors® President Richard F. Gaylord:
“I commend Treasury Secretary Paulson and Federal Housing Finance Agency Director Lockhart for their bold actions to bring stability and continued liquidity to the nation’s mortgage market. Fannie Mae and Freddie Mac have always played a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners. Their critical mission must not be interrupted, and Sunday’s announcement goes a long way in making sure that does not happen.
“NAR believes that the announced plan will help restore confidence in the secondary mortgage market. We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy.
“We look forward to working with the administration and Congress to ensure the continued vibrancy of the secondary mortgage market."
WASHINGTON, September 08, 2008
The following is a statement by National Association of Realtors® President Richard F. Gaylord:
“I commend Treasury Secretary Paulson and Federal Housing Finance Agency Director Lockhart for their bold actions to bring stability and continued liquidity to the nation’s mortgage market. Fannie Mae and Freddie Mac have always played a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners. Their critical mission must not be interrupted, and Sunday’s announcement goes a long way in making sure that does not happen.
“NAR believes that the announced plan will help restore confidence in the secondary mortgage market. We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy.
“We look forward to working with the administration and Congress to ensure the continued vibrancy of the secondary mortgage market."
Realtors Lie - Legally
Folks I have to Say...NAR Caused the Collaps of Freddie and Fannie and Caused SERIOUS problems in the Mortgage Market. Realtors are Not looking to see what Brokers and Agents enter into the MLS Database to see if it is accurate this creates a falsly inflated housing market. Appraisers can lean which ever way they want on the "Opinion" which by definition is what an appraisal is, so if they use the Realtors Data to Form their supposed "opinion" and this data is overinflated, or mis-entered on purpose or on accident than this creates more corruption in Real Estate Values.
real estate truth
Realtors work with Appraisers to get the "Real Estate Value" where it NEEDS to be in order to make a deal happen.
Some Realtors even create fake sales or suggest sellers have a friend buy one property too high to Get a Comparable Sold into the MLS database and then other homes that Seller has that are similiar (say like a whole development) are "worth - valued" at a higher price. All the lender needs is some sort of Valuation process to Justify the Price they Lend - a Comparable SOLD from an MLS Database will do just fine.. who cares if it is REALLY accurate.
real estate whistleblower
years of this lead to false value and yes a tumbling down...
realtors lie
They find or create comps to help them out and other helpful ways. Realtors work with Mortgage Brokers to FORCE deals that Buyers cannot afford.
real estate
What if the Realtor Enters False Data, what if the appraiser does NOT factor in the Selling Bonus or the Commission (that is Supposedly different on every sale and between the Broker and the client) , what if there is a Sellers Contribution (money given back to the buyer from the Seller ) and this is included in the SOLD price?
All of this happens every single day in real estate across the nation and everywhere that Realtor is located and this leads to prices being unnaturally raised, loaned on, inflated and then YES - of Course One Day the Buble Bursts... It is all about a paycheck and the Association of Realtors is at the TOP of the Food Chain.
Real Estate Books Contain Confessions Of a Realtor
So don't believe for ANY reason that the Association of Realtors has Nothing to Do with the State of the Mortgage Industry - they are Front and Center.
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