Thursday, May 1, 2008

Mortgage Bankers, Appraisal Groups Oppose Existing Cuomo, OFHEO, and GSE Agreement.

News stories, including Reuters story HERE, say that Mortgage Bankers Association and appraisal industry groups have written to Fannie Mae and Freddie Mac (both Government Sponsored Enterprises-GSE's) and to their safety and soundness regulator (Office of Federal Housing Enterprise Oversight--OFHEO) to oppose the agreement these GSE's and OFHEO reached previously with NY Attorney General Andrew Cuomo to rein in appraisal practices.

(My March 3rd. blog post on the agreement HERE includes a link to an OFHEO press release that describes the terms of the agreement).

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