Tag: Appraisal

Number of Comparables Required for a Manufactured Home

Question: We are financing a manufactured home.  The appraisal came in with only one comparable that is a manufactured home.  Is one enough? Answer: In December of 2020, FHA revised its requirement for Manufactured Home appraisals. There must be at least 2 manufactured homes in the comparable sales grid. Reference: 4000.1 II, D, 5, k […]

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USDA Accessory Dwelling Units

Question: Does USDA allow accessory units? I have a large main home and a large detached garage with a 2 bed/1 bath apartment above it. NEW MC Accessory Dwelling Unit – All Agency Comparison Answer: USDA does allow ADU’s if the Appraiser determines it is indeed an ADU vs second SFR. This information can be […]

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Fannie Mae Selling Guide Updates – SEL-2021-06 – Dated July 7, 2021

Written by: Lloyd Rutherford, Staff Writer In this month’s Fannie Mae update we have a win for refinances and clarification on age of appraisals. Rule Synopsis: Fannie Mae is updating their selling guide for a few topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Bulletin that […]

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Freddie Mac Bulletin 2021-20 dated June 2, 2021

Written by: Sue Villanova, Staff Writer In this bulletin, Freddie Mac releases important updates pertaining to Exclusionary list searches, Condo and Coop project eligibility, Multiple Parcels, AIM for Self-employed borrowers, LPA Median Income implementation, and remote notaries. Rule Synopsis: There are multiple subjects covered that have various effective dates and are addressed below. Exclusionary List […]

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FHA Temporary Partial Waiver of Appraisal Requirements in Rapidly Changing Markets, Effective April 26, 2021 to April 26, 2022 – FHA Info 21-25

Written by: Tracey Rumsey, Staff Writer Article Intro Paragraph Highly competitive markets and rapidly changing prices have caught the attention of FHA.  Read this article to learn more about the partial waiver requirements for appraisals. Rule Synopsis: Effective dates April 26, 2021 to April 26, 2022 Summary FHA has issued a Temporary Partial Waiver of […]

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