FNMA states MLS photos are OK

[PropertyEconomics]

The first sentence and the second are contradictory ......

• clear, descriptive, original photographs showing the front, back, and a street scene of the subject property and the front of each comparable sale.

the subject and all comparables must be appropriately identified. Photographs of comparable rentals and listings are not required.

acceptable photographs include clear, descriptive, original images from photographs or electronic images, copies of photographs from a multiple listing service, or copies from the appraiser’s files.


I believe Fannie has some splainin to do Ricky!!!!

 

[CANative]

Nothing has changed in the FannieFoo®. It's always said what is being posted. They care about inspection from the street and some sort of clear photo.

FHA wants the original photo no matter how bad it is because they want proof that the appraiser was there.

 

[Tom Woolford]

FNMA has never prohibited MLS photos. The do require inspection from the street and that the appraiser certify that the comparable sales were inspected from the street.

What has changed?

Exactly. So if you are really driving the comps, why not snap a pic? Because a bunch of folks dont actually drive the comps despite their signed certification.

m2:

 

[Kevin A. Spellman]

You do not provide direct service to the secondary market. The rules and guidelines are for the lender and they are passed through the lender on to the appraiser.

The absence of disclosing the use of a MLS photo will always discredit your report and your service. Your peers will always believe you did not go to the comparable sale to review the property from the street with the use of a MLS photo.

The buzz-word for our industry is and will always be "credibility" and not what the secondary market guideline for the lender says what an appraiser can and cannot do with the photos.

 

[Tom Woolford]

The buzz-word for our industry is and will always be "credibility" and not what the secondary market guideline for the lender says what an appraiser can and cannot do with the photos.