The FNMA 2075

[ucbruin]

http://www.frea.com/blog/fannie-mae-form-2075-ticking-time-bomb-appraisers

The previous link didn't work for me so re-posting.

Heck under the circumstances mentioned in the article all appraisals should be considered a ticking time bomb.

2055 exterior worse than 2075.

I wish I could do 10 2075/day.....

 

[TJSum]

Just make sure you get the checkbox correct on whether the market is stable or declining. This is where our liability resides. Based on the loan program involved, it is my understanding if you check declining market then they need to order an actual appraisal. So if you mark rising or stable market when it isn't this could come back on you when the loan goes south.