An Improvement For Appraisals? - 07/11/10 01:31 PM
On June 30, 2010 Fannie Mae (FNMA) has announced new appraisal guidance effective September 1, 2010.
 
These changes were made as a result of post-purchase reviews of mortgage loan files which identified issues including:
 

Inclusion of interior photographs in the appraisal report
Lender changes to the appraised value and guidance on addressing appraisal deficiencies
Appraisal selection criteria
Sources of comparable market date
Selection of comparable sales

During FNMA's reviews cases were identified where the lender had reduced the opinion of market value in the appraisal report based upon underwriter judgment, automated valuation models, or other methodology. After … (1 comments)

 
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Alan Gross

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