In a recent Fannie Mae Selling Guide update – the GSE addressed this issue of lenders who have been reducing opinions of market value: In the past, Fannie Mae did not provide requirements concerning lenders making changes to the opinion of market value reflected in the appraisal report. During Fa
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07/15/2010
MortgageOrb.com just released this article http://ht.ly/2aIrJ indicating that Wells Fargo will be closing its financial stores and exiting the non-prime lending arena. What is most striking is not the lack of loans offered (since less than 2% of loans were originated in the Wells Fargo Stores) -
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07/13/2010
A recent article from Mortgage Orb referenced the latest Fannie Mae letter to lenders, stating that "appraisers must have the "requisite knowledge" to perform a professional-quality appraisal for the specific geographic location and particular property types" So rather than bring an appraiser fro
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07/08/2010