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The Perfect Foreclosure Storm

Fannie Mae is hiring [NYT] [1] appraisers for the accurate valuation of Fannie Mae’s inventory and the management of the valuation process in the disaster areas of New Orleans and Mississippi.

As many properties sit and rot, I would expect a tremendous surge in foreclosure activity. It looks like Fannie Mae is anticipating an uptick in activity based on the job requirements:

Assign appraisers to value new REO’s within regional assignment, and place orders within 2 days of acquisition.