Appraisal

VA-Requesting Appraisals without the Certificate of Eligibility Determination, Circular 26-19-12, Dated – May 16, 2019 – Effective Immediately

Written by: Tracey Rumsey, Staff Writer Important news if you work with VA loans. Read through this article to find out all the details and changes you may need to make in your process. Rule Synopsis: As of May 16, 2019, VA appraisals may only be ordered when the Certificate of Eligibility for the veteran [...]

2019-06-07T10:45:11-05:00June 10th, 2019|

VA-Revision of Lenders Handbook-Chapter 7 [Loans Requiring Special UW] and Chapter 10 [Property Eligibility & Appraisals] Dated March 19, 2019 – Effective June 9, 2019

Written By: Tracey Rumsey, Staff Writer Heads Up VA originators, processors, underwriters and operations staff.  VA has lined up major changes that anyone touching a VA file needs to be aware of.  Read through this update where we specifically address Chapter updates 7 & 10. Rule Synopsis: VA announced at the Lenders Conference in April [...]

2019-04-09T12:52:30-05:00April 10th, 2019|

FHA HECM Appraisal Submission and Assessment Changes, Mortgagee Letter 2018-06, September 28, 2018, Effective October 1, 2018 [New MTP™- New FHA Requirement for HECM Loans!]

Written By: Tracey Rumsey, Staff Writer FHA is losing big money on their HECM program, which is also known as a Reverse Mortgage.  They believe that one of the biggest issues is the secured collateral.  If you work with HECM loans this is a must read as it will likely affect your loan process. Rule Synopsis: [...]

2018-10-10T09:54:39-05:00October 10th, 2018|

Freddie Mac Announces – New Collateral Scoring and Feedback Messaging – Dated August 24, 2018 – Effective October 31, 2018

Written By: Lloyd Rutherford, Staff Writer Not to be outdone by Fannie Mae, Freddie Mac is finally stepping up their Collateral Advisor software.  In this article you’ll learn when this update occurs and the information you need in order to use this massive update effectively. Rule Synopsis: Freddie Mac finally comes to the table for [...]

2018-09-10T11:23:50-05:00September 9th, 2018|

Multiple FAQ’s: Appraisal and Property-Related FAQs – Dated August 7, 2018; DU Validation Service FAQs – Updated July 19, 2018; and Student Loan Solutions – Dated July 2018

Written By: Lloyd Rutherford, Staff Writer Mega Fannie Mae FAQ Update!  Looks like Fannie had a lot of questions that needed to be addressed in the Appraisal, DU and Student Loan department.  Stay up to date by reading through these frequently asked questions! Rule Synopsis: Three FAQ documents have been updated. They are: Appraisal and [...]

2018-09-10T11:24:42-05:00September 9th, 2018|