Tagged: appraisal data

Appraisers Ditching a la mode After News of Corelogic's Acquisition 216

Appraisers Ditch a la mode

In 2015, Dave Biggers of a la mode stated: I’ll wrap up by wishing you a happy new year, in spite of all the recent fear mongering, and by thanking you for supporting us with your business. I’m confident that in 2015 you’ll see even more reasons for that loyalty, especially in terms of us continuing in our long-standing role as the independent appraiser’s staunchest advocate, and in being the most innovative, reliable, and accessible technology provider. We look forward to working with — and for — all of you this year. Time and time again, we were assured that...

Property Inspection Waiver: Fannie Mae Offering to Waive Appraisals 48

Fannie Mae Waiving Appraisals

Property Inspection Waiver, getting back to the old days of fogging a mirror… Appraisers, Effective 12/10/16, FNMA will have a new program in place which will allow LENDERS to waive appraisals on certain refi’s, if it is offered through the automated Desktop Underwriter (DU) loan documentation process. See the attached PDF. Key points from the PDF (emphasis mine): Property inspection waiver (PIW) is an offer to waive the appraisal for certain refinance transactions. Property Inspection Waiver offers are issued through Desktop Underwriter® (DU®) using Fannie Mae’s database of more than 20 million appraisal reports in combination with proprietary analytics from...

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FHA Electronic Appraisal Delivery (EAD) Portal

Use of the Electronic Appraisal Delivery portal will be required for all FHA-approved mortgagees, effective for FHA case numbers assigned on or after June 27, 2016.  Mortgage Letter 2015–08  published on March 26, 2015, provides more information. FHA’s EAD portal is a web-based technology system that enables electronic transmission of appraisal data and reports to FHA by FHA-approved mortgagees and/or their designated third-party service providers prior to loan endorsement. Features The EAD portal’s system messages provide real-time feedback on compliance with FHA appraisal data and report requirements. The portal leverages industry data standards and industry appraisal practices, and: Offers process efficiencies inherent...

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