Tag: Appraisal

Freddie Mac Selling Guide Updates – Bulletin 2019-22 – Dated November 6, 2019

Written by: Lloyd Rutherford, Staff Writer Working in the affordable lending arena is a great niche that with a little education will yield you some excellent results. This article highlights some of the opportunities and recent changes in affordable lending with Freddie Mac. Rule Synopsis: Freddie Mac is updating their selling guide for a variety […]

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CFPB Announces Threshold Amounts for Smaller Loan Exemption for HPML Appraisal Requirements – Dated October 30, 2019

Written by: Lloyd Rutherford, Staff Writer Rule Synopsis: The CFPB is required to calculate annually the dollar amounts for various topics contained in Regulation Z (aka The Federal Truth-in-Lending Act or TILA). This article will address the changes that impact the mortgage industry related to the appraisal requirements for HPML as it relates to smaller […]

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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 […]

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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 […]

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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: […]

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