Appraisal News and Business Tips

Newz Flash: Fannie Mae’s Collateral Underwriter Hacked!!!

A disgruntled man who lost his home to foreclosure did it!! The CU system is completely shut down. No details were available on when, or if, it will be fixed. The un-named man was not available for comment as he is reportedly hiding out in a remote cabin in the woods in a very rural upper Michigan or Canadian location.

He, his wife, and 4 children are now living in a Tiny House on his brother in law’s rural property in Michigan. They lost their suburban 4 bedroom home they had owned for over 20 years to foreclosure. The family has an outhouse, a hand pumped well and wood heat. A small solar power array is used for a computer and Internet connection with a few hours of electricity daily.

Who is in an uproar about this? 

– Not appraisers who don’t like a system that evaluates their appraisals but they don’t know the criteria.
– Not underwriters who are required to learn a new system and do manual reviews of appraisals before sending warnings to appraisers.
– Not loan officers whose deals are taking longer to close. Not borrowers who have to wait longer to get their loans approved.
– Not law enforcement, who don’t think he is a terrorist or a nut holed up with a lot of guns.

FYI, it is April 1 today. You know what that means ;>

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11 Comments
  1. I was so excited. Then so depressed when I read the last line!!! That was just MEAN!

  2. LOL, we could only hope! We live in a nanny state and your story was just too good to be true. Thanks for the laugh.

  3. Very poor joke

  4. Fooled me, guess I wanted it to be true

  5. Ann you are mean 🙂

  6. But I am hopeful for the copycat terrorist. Can we make sure this gets broadcast to China and Yemen, then sit back and let them go to work!

  7. Hilarious! Thanks for the laugh 🙂

  8. You made my day, until I read the last line. Any hackers with too much time on your hands, we appraisers could use a little help!!!

  9. Poor Joke

  10. I think I got really excited! Then I was completely let down 🙁

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