Thursday, November 08, 2007
Cuomo, WAMU and Fannie/Freddie (cont.)
I have it on reliable authority that Fannie/Freddie do in fact use automated valuation systems to place a reality check on appraisals. So Cuomo is grandstanding (and not for the first time). In the meanwhile, he may be doing genuine harm to the mortgage market when it is already crippled enough.