Real estate blog entries tagged with declining values by Marc Brinitzer (Big Valley Mortgage)

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Home : Blogs : Marc Brinitzer : Marc Brinitzer's Blog : Tag "declining values"

declining values: “Check Your Appraisal” - 08/24/07 10:19 PM

….was the heading on yesterday’s email from Wells Fargo Wholesale. This is a heads-up to Realtors and home buyers… Fast Rewind In mid July, FannieMae issued Announcement 07–11, entitled Collateral Valuation Practices and Declining Markets. Here are several key points from the memo:
FannieMae’s Desktop Underwriter (DU) Version 5.7 released July 22, will now generate a message when it thinks that a property is located in a declining market.The appraiser must also indicate when the property is in a declining market.The lender is responsible for ensuring the accuracy of the appraiser’s work.Any pressure by the lender on an appraiser will cause … (37 comments)

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Marc Brinitzer

Sacramento, CA

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Big Valley Mortgage

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