New Fannie Mae Guidelines – 7/30/13
Many thanks to Montana appraiser Doug Smith for this info. Here’s what Doug says:
“Not much new but lenders have to put in QC steps that may increase the review situation. Fannie Mae stated that they have a right to exclude appraisers from appraisals sold to them. I think this is the first time they have put this in writing.”
My comment: It is always good to refer to the most recent version of th Fannie Mae Guidelines. The Announcement has a summary of the changes. I remember back in the “Stone Age” prior to HVCC in 5/09 when all we had to worry about was Fannie Mae Guidelines. Now, every lender seems to have lots of changing requirements that dramatically extend what appraisers have to do.