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Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

“Major stakeholders provided compelling feedback that additional time is necessary to properly meet the new expectations of the [May] ML due to staffing considerations, third-party coordination, and technology constraints,” FHA said in an informational notice.

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Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

The FHA Catalyst: Electronic Appraisal Delivery module will allow for the administration to expand their data collection and analysis capabilities. Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. How increased regulation presents a huge opportunity for lenders.

Appraisal 476
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

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. The appraiser will be led through a process, defined by the scope of work.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Traut notes that the Federal Housing Finance Agency (FHFA) announced in late October 2021 at the Mortgage Banker Association’s annual conference that banks and mortgage lenders will be able to use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages.

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How To Appraise Rural Properties

Appraisal Today

Defining rural properties – USDA and GSEs Challenges of appraising rural properties Appraising rural properties presents unique challenges due to their diverse characteristics and market dynamics. Kiedrowski The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals.