Fannie to Maintain Problem Appraiser List
Fannie Mae is updating its appraisal requirements and plans to provide sellers with a list of appraisers whose reports will require extra scrutiny or won't be accepted.
Dodd-Frank Drives Hard Money Firm Out of OO Lending
Requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act are forcing at least one hard money lender to abandon owner-occupied transactions.
Mortgage Fraud Risk Rises, Jumbo Riskier
The risk of mortgage fraud increased during the latest three-month period -- with identity and occupancy fraud risk seeing the most deterioration. New data suggests that jumbo mortgages present more risk than non-jumbo loans. A community that borders Arkansas and Missouri is one of the nation's worst hot spots.
Appraisal Firms Prepare for CFPB Rules
Valuation service providers have developed a host of materials designed to help mortgage lenders comply with new rules that go into effect in two months. Other recent advancements and collaborations in the sector address improved efficiency.
Failed Bank's Former Chairman Claims Duped Into Loan
A State senator and former chairman of a failed South Carolina bank is attempting to avoid repaying a loan from the bank because of an allegedly faulty appraisal.
Some Servicers Unaware of Valuation Rule
Some mortgage servicers might not be aware that they could be subject to a new rule involving home valuations.
AMC Search Engine Launches
A new appraisal management company search engine promises to match up mortgage firms with the best available AMC.
Risk of Valuation Fraud Plummets
Prospective borrowers have recently escalated their efforts to deceive lenders about their income. But the risk of valuation fraud has greatly diminished.
Fannie Implementing New UCDP Appraisal Messaging
New real estate appraisal messages are being implemented in less than two months by the Federal National Mortgage Association.