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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (6128)	10/18/2002 6:56:10 PM
From: MSI	Respond to of 306849

Actually, the lenders I've talked seem to be aware of the FICO score, at least for the low-cost loans. What does cause caution is the ease by which the "appraisals" can be done in some cases, a statistical desk-top, without a visit to the site. I saw my own estimate on several occasions was by astonishing coincidence exactly the same value as the bank used. Hmmmm.... Since I made up the figures, somewhat on the high side, of course, I'm beginning to suspect the so-called "statistical system" is actually whatever a loan officer decides. These were 80% LTV so there's cushion there, but we learned in the S&L debacle days, if there's a weakness it will eventually get exploited to the max by someone.