Housing Wire
DECEMBER 11, 2020
Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan.
Appraisal Buzz
APRIL 15, 2024
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. Really, appraisers have always thought this way.
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Housing Wire
MAY 24, 2022
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. Lenders also mentioned concerns and roadblocks with adopting new appraisal modernization tools.
Housing Wire
MAY 23, 2022
Both Fannie Mae and Freddie Mac now allow appraisals to be conducted remotely, using public records such as listings and tax appraisals, for purchase loans. Meanwhile, the Department of Housing and Urban Development (HUD)recently extended its timeline for allowing desktop appraisals for certain transactions impacted by the pandemic.
Housing Wire
MARCH 31, 2021
The CFPB also rolled back leniency on reporting of certain information related to credit card and prepaid accounts under the Truth in Lending Act, Regulation Z, and Regulation E. The CFPB also now intends to take enforcement action against land developers subject to the Interstate Land Sales Full Disclosure Act under Regulation J.
Housing Wire
NOVEMBER 8, 2021
After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser.
Birmingham Appraisal
SEPTEMBER 15, 2022
What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Who is the Appraisal for? This is called equity.
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