Fannie Mae's Response To Valuation & Declining Markets

By
Real Estate Appraiser with Bennett Appraisals Licence # Avail. on Req.

Fannie Mae recently announced that it will begin to alert lenders if the collateral property for a mortgage is located in an area where house prices are in the decline.  Fannie Mae Underwriters will be sending a message to the lenders notifying them that they should review appraisals to assure accuracy and require appraiser to included additional about market trends as of July 22 2007. The area's market trend and its effect on the value of the subject property must be disclosed by the appraiser.

Good and qualified appraisers have been doing this all along:)

For more info click on: https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2007/0711.pdf

For a qualified Residential Appraiser in the Bellingham & Whatcom County area call Bennett Appraisals 360-746-0224.  Order  online @  www.bennett4appraisals.com

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Rainmaker
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Shawn Gerhardson
Waterstone Mortgage NMLS#186434 - Cambridge, MN
Top Rated Mortgage Professional
Thanks for the update Bennett Appraisals. Good info!
Jul 26, 2007 07:00 AM #1
Rainer
36,289
Mary "B" Battaglia
Coldwell Banker United (referrals welcome!) - Austin, TX
GRI, CRS - Austin Real Estate - Austin Texas Real Estate agent

Is is comforting to know that the folks at Fannie Mae are aware of this situation.  I know professional appraisers everywhere will appreciate this revelation.

Mary "B" - Austin, Tx.

Jul 26, 2007 07:01 AM #2
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Rainer
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