Property Inspection Waiver - FNMA Says No More Appraisers!

[djd09]

No thank you.

Are you just a bitter old man?

 

[TRESinc]

No thank you.

Are you just a bitter old man?

Better to remain silent and be thought a fool than to speak and to remove all doubt.

 

[djd09]

No thank you.

Are you just a bitter old man?

 

[djd09]

Isn't it time for your daily brain washing medication? Do you stick it in a blender? Watching it spin brings back memories,huh?

 

[Tom4value]

This is nothing new as it was announced way back in October, 2016 and actually went into effect in December, 2016

https://www.fanniemae.com/content/announcement/sel1608.pdf

I suggest signing up with both Fannie and Freddie to receive their updates via email so that you keep abreast of changes that affect appraisers in a timely manner - you can sign up to receive updates on their websites

Actually, I have seen these for 16 years.

 

[timd354]

Actually, I have seen these for 16 years.

Yes, they have come and gone several times with several changes.

The latest incarnation for Fannie was announced in October and went into effect in December, 2016. Currently, Freddie is not utilizing a PIW option.

 

[Howard Klahr]

Currently, Freddie is not utilizing a PIW option.

Freddie Mac planning appraisal-free mortgages ????

 

[timd354]

Freddie Mac planning appraisal-free mortgages ????

Yes, it is in the works for Freddie, but they are not currently doing PIW's or other no appraisal mortgages and they have not yet released the details or the timing of when this new appraisal waiver program will be implemented. I have heard through the grapevine that they will be releasing the details within the next two or three weeks...I guess we will see.

 

[glenn walker]

Very Old news **

 

[Argentum]

This is nothing new as it was announced way back in October, 2016 and actually went into effect in December, 2016

https://www.fanniemae.com/content/announcement/sel1608.pdf

I suggest signing up with both Fannie and Freddie to receive their updates via email so that you keep abreast of changes that affect appraisers in a timely manner - you can sign up to receive updates on their websites

The link provided had included a document published just last month that I wanted to share...