Fannie & Freddie To Update Appraisal Dataset & Forms

[gregb]

https://www.fanniemae.com/content/news/uad-announcement-may-2018.pdf

 

[Meandering]

So for at least the rest of this year bi-f appraisals are not allowed to be sold to the GSEs.

Nice.

 

[DWiley]

So for at least the rest of this year bi-f appraisals are not allowed to be sold to the GSEs.

Nice.

Not quite

Do you really think that Fannie does not know what its own Selling Guide says, and that they are not addressing that with contractual exceptions to any party who might be participating with them in a pilot for a new service? That is what they did when they tested new services in the past.

 

[timd354]

Not quite

Do you really think that Fannie does not know what its own Selling Guide says, and that they are not addressing that with contractual exceptions to any party who might be participating with them in a pilot for a new service? That is what they did when they tested new services in the past.

Sadly, based on her past posts, she might actually think that.

I have seen the terms of one of the bifurcated appraisal pilots, and amazingly enough (lol), those terms allow the participating lender to deliver bifurcated appraisals to Fannie Mae.

 

[George Hatch]

"This work is designed to provide greater clarity to lenders, borrowers, and investors; simplify appraisal reporting and reviewing; and build a foundation for appraisal modernization."

They're telling you what they intend to do.

 

[Meandering]

Appraisals still have to be done according to the written regulations,

and they are not going to re-write the regulations while the study is underway.

See? It's not even in their timeline.



Keep selling your garbage.

Because it'll be funny when the GSEs find that modernization does not include guessing and does not find the bi-f product as reliable.



After all,
when reps and warrants are in place for all loans,

USPAP is suddenly a very low minimum requirement.

Yet USPAP does not change with the release of reps and warrants.

Or maybe some people are thinking that because the data is in XML, no one will know who did the inspection, as the data can be dropped onto a 1004 for review, and no one will be the wiser.

Keep hoping.

.

 

[DWiley]

....amazingly enough (lol), those terms allow the participating lender to deliver bifurcated appraisals to Fannie Mae.

Truly shocking.

 

[Mr Rex]

So for at least the rest of this year bi-f appraisals are not allowed to be sold to the GSEs.

Nice.

Where did you get that from?

 

[glenn walker]

Where did you get that from?

She made it up LOL

 

[timd354]

Where did you get that from?

Don't smell it as it came from a very dark place