Second Appraisals

VA – Identity of Interest – Second Appraisal: Does VA follow the same identity of interest rules as FHA in which they require a second appraisal?

Answer: VA does not have the same identity of interest rules as FHA and does not provide any guidance regarding non-arm’s length transactions.  VA would not require any type of second appraisal if a seller is related to a buyer and is paying closing costs. That said, be sure to verify that you don’t have [...]

2019-02-21T16:33:48-05:00February 25th, 2019|

Fannie Mae Appraiser Update – Dated April 2018

By: Lloyd Rutherford, Staff Writer There is nothing worse than getting a borrower through the buying process, contract and home inspection only to find out that the appraisal is causing your loan to blow up.  Find out what you need to know about appraisals and how to prevent these issues by educating yourself with Fannie’s [...]

2018-05-29T14:48:39-05:00May 9th, 2018|