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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long. “It

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Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week.

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FHA delays mandatory use date for FHA Catalyst appraisal submission

Housing Wire

The previous deadline, announced in mid- 2021, was March 14, 2022. The letter noted that during this period mortgagees and technology service providers are encouraged to continue their integration with and usage of the module for all forward and HECM origination electronic appraisal deliveries.

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