Browsing Tag:Appraisal

hud-updates-appraisal-tips-fha-information-and-views
The FHA and HUD are updating the rating requirements for Federal Housing Administration-Guaranteed Residential Mortgage Loans.In June 2021, President Joe Biden announced a move to bring valuations in line with the guidelines of the Fair Housing Act - the move was introduced as an initiative called the Interagency Task Force on Property Appraisal and Valuation Equity, or PAVE.The FHA...
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fha-rolls-out-new-appraisal-steerage-for-reverse-ahead-mortgages-to-fight-discrimination
The Federal Housing Administration (FHA) announced on Wednesday new guidelines for FHA mortgage ratings, targeting both the forward and reverse mortgage programs, and limiting cases of racial bias in the valuation of homes seeking FHA mortgage financing should. This emerges from the publication of the Mortgagee Letter (ML) 2021-27 published on Wednesday.“The ML reaffirms the commitment of the...
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reverse-mortgage-professionals-share-extra-ideas-on-latest-appraisal-challenges
Estimates across the mortgage market - from forward to reverse - face an inhibition, and that inhibition has resulted in much tighter availability for the appraisers themselves, as well as excessive turnaround times and prices for a necessary component of the mortgage process. For the more advisory reverse mortgage industry, however, lenders arguably face these difficulties differently than...
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fha-to-make-appraisal-deliveries-by-means-of-its-new-know-how-necessary
The Federal Housing Administration set a date by Wednesday by which all electronic valuations must be submitted through FHA Catalyst, including those conducted in connection with home conversion mortgage loans.Starting March 14, 2022, submission of electronic reports via FHA Catalyst will be mandatory for single family loans unless an earlier version has been submitted via legacy technology. In...
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fha-provides-reverse-mortgage-appraisal-submissions-to-catalyst-software-program
The Federal Housing Administration (FHA) on Wednesday announced mandatory transition dates for mortgage holders to submit estimates for both single-family forward and reverse mortgage endorsements through their FHA Catalyst software. This emerges from the publication of the Mortgagee Letter (ML) 2021-23.Of particular attention to the reverse mortgage industry, according to the FHA, Catalystnow is introducing a new Home...
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enterprise-wished-mlo-jobs-u-w-appraisal-non-qm-jumbo-merchandise-tech-survey-investors-gse-modifications
Business Wanted, MLO Jobs; U/W, Appraisal, Non-QM, Jumbo Products; Tech Survey; Investor's GSE ChangesLenders always have a lot going on. Like “significant competitive pressure and volatility in the capital markets,” as evidenced by Home Point’s $73 million loss for 2Q 2021, announced yesterday. Remaining compliant can be a chore as well. The current STRATMOR blog is, “Ignorance of the...
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fha-broadcasts-updates-to-property-and-appraisal-qc-evaluation-necessities-weiner-brodsky-kider-pc
The FHA recently issued Mortgage Letter 2021-17 (ML 2021-17) which announced updates to certain quality control (QC) requirements in Single Family Home Policy Manual 4000.1 (SF Handbook 4000.1), Section VA3.c.ii (C) are given. , including the expiration of a temporary partial suspension of these requirements by COVID-19.The temporary partial waiver, originally announced in June 2020 and extended in...
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fha-confirms-expiration-of-momentary-steerage-for-re-verification-of-employment-and-appraisal-scope-of-work-possibility-updates-weiner-brodsky-kider-pc
The FHA recently recalled that the preliminary guidance affecting changes to the requirements for re-examination of employment and assessment protocols for FHA single-family programs due to the COVID-19 pandemic expires on June 30, 2021 originally expired on June 27, 2021 Announced March 2020 in Mortgage Letter 2020-5, later updated by Mortgage Letter 2020-37, and should expire on May 17,...
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