Tag: Appraisals

VA Covid19 Guidance – Important Update for Underwriting and Appraisals

VA Issued Circulars 26-20-10 and 26-20-11 regarding guideline flexbilities during Covid19. Circulars are linked below and can also be found under our Agency & Bulletins Page in the Category of VA. Our VA Expert has reviewed the Circulars and is issuing a bullet point summary for each of them below. Circular 26-20-10 VA Lender Guidance […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

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 […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

VA – Appraisals – Tidewater Process: What is the “Tidewater Process” for VA Loans?

Answer: VA has a process called “Tidewater” where a VA appraiser contacts the appraisal requester prior to issuing the appraisal, when the value is going to be below the sales price.  The appraiser is supposed to give the requester (typically the lender) 2 full working days to provide additional information to the appraiser to support […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Fannie Mae Selling Guide Announcement SEL-2018-08 – Dated September 2, 2018-Effective Immediately [NEW Chart – Using Employment-Related Assets for Income]

Written By: Lloyd Rutherford, Staff Writer Fannie Mae continues to make the originator’s life easier by helping more borrowers that “make sense” qualify for home loans.  Read through this update to see the new changes and tips on getting the word out to your clients. Rule Synopsis: Fannie Mae is updating their selling guide for […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Fannie Mae – Utility Accessibility – Appraisals: Will Fannie Mae lend on a property where the utilities were not turned on at the time of the appraisal inspection?

Answer: Yes. Fannie Mae does not require that the utilities that serve the property be turned on at the time of the inspection. See Question #23 in the attached reference. Supporting Resource: Fannie Mae – FAQs – Appraisal Property Report Social Media Post: Fannie Mae does not require that the utilities serving the property be […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top