Latest News and Updates
At a forum looking at how technological advancement is changing the world of valuations, experts from the lending, multiple listing services, and real estate worlds discussed frustrations and new developments in the appraisal industry.
On March 26, 2015, the Federal Housing Administration (FHA) published Mortgagee Letter 2015-08, Electronic Appraisal Delivery (EAD) Portal for FHA-Insured Single Family Mortgages.
Texas court holds that purchaser’s reliance on inaccuracies and omissions in draft appraisal provided to lender was unjustifiable, and could not support allegations of fraud regarding misrepresentation of building’s value.
On Feb. 4, 2015, Fannie Mae released Lender Letter 2015-02 to provide clarifications and additional information about Collateral Underwriter, Appraiser Quality Monitoring (AQM) and updates to the Property Eligibility and Appraisal Requirements section of the Selling Guide.