Letter From FNMA 'Baptist' can't be in report...

[nachocheesefries]

Another appraiser I know got the same letter from FNMA with the word 'Baptist' prohibited. She sent me the screen shot of the letter. It was in the neighborhood description of the same town, just like mine.

 

[Fernando]

Another appraiser I know got the same letter from FNMA with the word 'Baptist' prohibited. She sent me the screen shot of the letter. It was in the neighborhood description of the same town, just like mine.

Peer reasoning won't work with Fannie.

 

[nachocheesefries]

Peer reasoning won't work with Fannie.

Not peer reasoning...

Noting that my letter is not a one off to those who care.

 

[TerryRohrer]

Not peer reasoning...

Noting that my letter is not a one off to those who care.

I was reading up on the new ROV process this morning and noted the following statement in the FNMA Selling Guide. I'm not sure when it was added (a quick search of a 2021 version of the Selling Guide did not include this). It may have been added as recently as 5/1/2024. It will be interesting to see who ensures the "must report" aspect. I think those requirements were added to lender regs as early as Dodd-Frank in 2010, but maybe such things are optional and only for optics. Appraisers should be aware, though, just in case they are not.

"If material deficiencies identified in the appraisal report are not corrected or addressed by the appraiser upon request, or if there is evidence of any unacceptable appraisal practices detailed in B4-1.1-04, Unacceptable Appraisal Practices, the lender must forward the appraisal report and summary of findings to the appropriate appraisal licensing agency or regulatory board. The lender must also report suspected overt violations of anti-discrimination laws to the proper local, state, or federal agency. In the event of these occurrences, the lender may obtain a second or subsequent appraisal report."

B4-1.3-12, Appraisal Quality Matters (05/01/2024)

This topic contains information on appraisal quality matters, including:

selling-guide.fanniemae.com

 

[Fernando]

For those who have looked at the no no words, is mentioning proximity to "homeless encampment" a no no.