Housing Wire
DECEMBER 11, 2020
Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan.
Housing Wire
MAY 24, 2022
A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. Lenders also mentioned concerns and roadblocks with adopting new appraisal modernization tools.
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Appraisal Buzz
APRIL 15, 2024
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. Most appraisers have diversity in their business channels.
Housing Wire
SEPTEMBER 21, 2021
Growing and investing in relationships and communities in the long term is one of the many opportunities presented by stricter fair lending regulations. For cases with a previous appraisal submission to the legacy EAD, the FHA is allowing for appraisal resubmission to be delivered through the legacy EAD portal until April 15, 2022.
Housing Wire
JULY 2, 2024
The NSMO provides a unique view of mortgage borrowers, helping illustrate underlying trends that can identify emerging issues in mortgage lending,” Saty Patrabansh, FHFA’s associate director for the office of data and statistics, said in a statement. The newest release adds data through 2021 into the available dataset.
Housing Wire
MARCH 31, 2021
The CFPB also rolled back leniency on reporting of certain information related to credit card and prepaid accounts under the Truth in Lending Act, Regulation Z, and Regulation E. “Our actions today are temporary and targeted to support consumers by allowing financial companies to focus their resources on assisting consumers.”.
Housing Wire
MAY 23, 2022
“MBA urges Congress to ensure that these funding fees are set at levels commensurate with the risks associated with VA-guaranteed home lending — and to conduct oversight and analysis of past funding fee increases rather than levying further increases,” he said.
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