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The Elephant In the Room: Fannie’s Modernization Program

Appraiserblogs

The Elephant I refer to is simply this: Fannie Mae’s modernization program is going to put a lot of appraisers out of business. I can hear the chorus of my fellow appraisers rising up… The post The Elephant In the Room: Fannie’s Modernization Program appeared on Appraisers Blogs. It’s all “lender centric”.

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Let’s All Build the Gallows Together

Appraiserblogs

The mission is to “modernize” the appraisal profession into a skeleton crew of compliant zombies who will be rubber stamping appraisal reports for $25 each (Source: Voice of Appraisal) from the dark confines of their private offices.

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HUD publishes dozens of proposed rules in spring agenda

Housing Wire

HUD also plans to modernize processes regarding engagement with mortgage borrowers who are in default , which currently requires a face-to-face meeting between the defaulted borrower, and would permit lenders to employ either telephone or modern videoconferencing services to conduct meetings prior to either foreclosure or assignment of their loan.

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Why an Organized Workfile is Your Best Defense

Appraisal Buzz

Particularly when speaking about the workfile, for my money, the most dangerous words in USPAP are “or references to the location(s) of such other data, information, and documentation.” Simply having the contemporaneous records available whenever one might need to refer back to them allows the appraiser to create an imprint memory.

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HUD launches Office of Manufactured Housing Programs

Housing Wire

Thanks to the work executed by our Office of Manufactured Housing Programs over the last two years, we have made significant progress to support the availability of modern and affordable manufactured homes.”

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Will hybrid appraisals become the new normal?

Housing Wire

The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts. The Request for Input (RFI) – open to comment until Feb.

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Bank survey: Regulatory worries reach three-year high

Housing Wire

In October, the CFPB, the Office of the Comptroller of the Currency and the Department of Justice announced they would take on “modern-day redlining.” Brainard spearheaded a 2020 notice of advanced rulemaking that included an overt reference to racial equality.