Fannie Mae has rolled out a new safeguard for Lenders and Underwriters, as they continue to strive for Appraisal integrity and accuracy ... This new Lender's tool becomes available on January 26, 2015 ... the very same day that FHA institutes their new Mortgage Insurance Reduction. (See my recent post, "January 26, 2015: Changes Ahead for Mortgage Financing" for details regarding FHA's changes.) The development of this new "Appraisal Review" tool is intended to help alert Underwriters and Lenders of inconsistencies of Appraisal data submitted through the processes "already in place". … (70 comments)
In Part 1 of this post, I answered the mortgage Underwriting questions ... "Why do I have to explain a late payment, the reason for a collection, or the reason for a prior bankruptcy?" and ...
"Why does an Underwriter care where the money for down payment comes from?"
Today, I continue addressing underwriting questions that I often hear from my clients during their mortgage processing. Questions, that when prepared for and addressed … (5 comments)
Why Do I Need to Jump Through All These Hoops During My Condo Purchase?
A recent blog by Anna "Banana" Kruchten, Phoenix Property Shoppe (Phoenix, AZ) regarding a challenging condominium transaction she had pending, prompted quite a conversation on the ActiveRain website and Facebook too. That didn't really surprise me. I'm asked questions regarding condo sales and purchases all the time. From every sides of the deal, whether it be the Purchase, Sale, Mortgage Financing, FHA approval, or Appraising. Basically the questions always boil down to .... … (13 comments)
Multiple Offers and Appraisals. Learning to Co-Exist Successfully We are presently in the time of year when Appraisers, Realtors, and Mortgage Originators ... as well as Home Buyers and Sellers are often "anxious". Both good anxious and bad anxious. This Spring, many of us find ourselves anxious, but hopeful, that our housing market is reviving itself after a long winter. This is especially true in the Midwest region where I live. Weather makes home sales somewhat more seasonal here. This year's anxieties are accompanied by the … (26 comments)
Debut of Fannie Mae's Appraisal Review Slated for January 26, 2015 
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