Fannie & Freddie To Update Appraisal Dataset & Forms

[Meandering]

Where did you get that from?

Their stated time line.
Did you read the article?
It's at the bottom.

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[Meandering]

Even Danny agrees with me.

https://appraisersforum.com/forums/threads/hybrid.220265/page-105






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[glenn walker]

Actually the hybrid is not used for origination loans.- What Fannie appears to be doing is setting up new forms which will include these alternative products so they can be used in origination loans or maybe NOT but still purchased by Fannie-Freddie. The writing is on the wall and currently the hybrids are being used as BETA tests - I bet Fannie and Freddie are collecting many of them and following the default rates etc - Of course this is just pure speculation but that's my take.

 

[Mr Rex]

Even Danny agrees with me.

https://appraisersforum.com/forums/threads/hybrid.220265/page-105

View attachment 36061




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No what he is saying is that the new forms may be hybrids. You sure have a way of reading between the lines.

 

[Meandering]

No what he is saying is that the new forms may be hybrids. You sure have a way of reading between the lines.

What he is saying is a bunch of ifs predicated on future decisions,
which means as of today.
bi-f appraisals are not acceptable for lending.

Try to read the words and not between the lines,

Mr. Rex.

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[DWiley]

bi-f appraisals are not acceptable for lending.
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Well, they are certainly acceptable for the lenders who are in the pilot with Fannie and have a contractual exception to the current passages in the Selling Guide. As noted before, that is how Fannie has rolled things out in the past. The 2055, for example, could only be used by certain lenders at first, while they tested it. Same with the 1004MC, and other forms that have been introduced over the last 30+ years.

As for non-Fannie stuff, the OCC, FDIC, etc. specifically approved use of "hybrids." I have seen the letters

 

[timd354]

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As for non-Fannie stuff, the OCC, FDIC, etc. specifically approved use of "hybrids." I have seen the letters

Do you think that really matters Danny?

 

[Mr Rex]

What he is saying is a bunch of ifs predicated on future decisions,
which means as of today.
bi-f appraisals are not acceptable for lending.

Try to read the words and not between the lines,

Mr. Rex.

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I read the words and I do not see what you imply.

 

[Deleted member 130081]

LOL. And yet again, where is the singular voice of input from the appraisal trade association, that represents a critical mass of individual appraisers in the profession? ...chirp, chirp, chirp... I mean, don't ya think, just maybe, if the largest player who influences the use of appraisals decided to do some experimenting and modernization of appraisals, that it might, just maybe, want to receive some consult from appraisers as a whole? I'm sure appraisers would love to have a say in it (or would they?). Too bad FNMA doesn't really have that resource to draw from. Hard to be mad at them when the option isn't even there.

...and the broken record goes on...until appraisers organize into a single voice, their fates will continue to be dictated to them by the lender clients. Look in the mirror for the problem folks.

 

[Meandering]

Well, they are certainly acceptable for the lenders who are in the pilot with Fannie and have a contractual exception to the current passages in the Selling Guide. As noted before, that is how Fannie has rolled things out in the past. The 2055, for example, could only be used by certain lenders at first, while they tested it. Same with the 1004MC, and other forms that have been introduced over the last 30+ years.

Which still has nothing to do with fee apprises and their liability.

So having the crony choir here 7days a week telling appraises how wonderful these products are is just plain ****.

As for non-Fannie stuff, the OCC, FDIC, etc. specifically approved use of "hybrids." I have seen the letters

Link please.


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