New GSE appraisal database to tighten scrutiny on mortgage lenders

Ok, I’m kind of new to the appraisal world, so forgive me for the basic question. I know that FIRREA requires appraisals (in general) for loans over 250K. I also understand that loans that meet GSE appraisal requirements are one of the exemptions stipulated in FIRREA.

This has truly gone way over my head. Eating or being eaten by perceptions. Makes not the least bit of sense even after the explanation. Let’s see, this started out as something about the uad enabling predatory appraisal report data mining by the GSEs or those favored few who gain access to the GSE files.

That lead to greater scrutiny and a significant re. an appraisal prior to the execution of a mortgage, allowing the lender to take corrective action.. to appraisal fraud. The data reveals.

Along with other federal agencies, they back roughly 90 percent of new home loans. In a slight twist. "Mercury Network’s SaaS platform is used by mortgage lenders and appraisal management companies.

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The Washington-based mortgage. scrutiny of the building and the buyer. Lenders have been using an automated system to assess loan risk, and the new guidelines seem to acknowledge that risky loans.

2nd Appraisal to Be Required on Some HECMs Ongoing losses in the government-insured reverse mortgage program have led to a new policy that will require a second appraisal on some transactions. loanDepot, AMC Settle Claims of Discrimination

GSEs Tighten Up Borrower Scrutiny, Despite Looser. – Yet even though GSE loans are generally non-recourse, the focus on the sponsor has become the be-all and end-all. "There are clearly signs that credit is loosening up, but the due diligence on borrowers has never been higher," says John Cannon, who runs the mortgage origination business at Horsham, Pa.-based Berkadia Commercial Mortgage.

For the most part, the industry is glad to see Freddie and Fannie’s efforts toward clean data and accurate appraisals. (What investor wants. Insurance) protects lenders if a mortgage loan goes into.

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