equity: Appraisal requirements are changing and have changed - 01/28/09 06:56 AM
Inflated appraisals were cited as one of the things to blame for the mortgage melt down and have continued to be a concern for several months. More and more companies are tightening up on their appraisal requirements and requiring that the appraisal comparables be within a certain area and within a certain time frame. Here are the latest appraisal changes from Countrywide:  
New Appraisal Requirements:
The appraiser must be provided with a copy of the Purchase Contract and all Addenda to ensure that any financing and/or sales concessions are considered when determining any impact on the value of the property.
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Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant (Guild Mortgage Co - Oak Harbor WA)

Fred Chamberlin

Oak Harbor/Whidbeynulls, #1 Experienced FHA...

Oak Harbor, WA

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Guild Mortgage Co - Oak Harbor WA

Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277

Office: (360) 675-6106

Mobile: (541) 221-3455

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