appraisal: Declining Market Values " Oh My, Oh My"!
- 01/21/08 02:20 AM
What does it mean? What will it Cost? As the real estate and mortgage markets continue to recover we are seeing more and more restrictions on lending to try and right the ship. One monster that started to surface way back in July of 2007 was the "Declining Markets" guidance sent out by FNMA. In short FNMA began to notice in their massive data base that there are areas of the country that are seeing consistent declines in market value. While it is acceptable to deliver mortgage products to FNMA that are secured by properties in declining markets the rules have (1 comments)