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Did You Know … if a comparable sale with an accessory unit is not available, the appraiser can use a comparable sale in the subject neighborhood without an accessory unit as long as the appraiser can justify and support such use in the appraisal report.

Related Article Title:  Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-9 – Dated May 1, 2019 [NEW Worksheet – Freddie Mac Verification of Funds for Income After Note Date] Written By: Lloyd Rutherford, Staff Writer This month’s Freddie Mac Bulletin contains some little changes that could have a big impact on your business, so [...]

2019-05-08T18:05:09-05:00May 10th, 2019|Freddie Mac, Social Media Posts|

Fannie Mae has instituted a pricing increase for second homes where the LTV exceeds 85%. This increase does not apply to DU Refi Plus™ and Refi Plus™ loans.

Related Article Title:  Fannie Mae Selling Guide Announcement SEL-2019-04 – Dated May 1, 2019- Effective Immediately Written By: Lloyd Rutherford, Staff Writer This month’s seller guide announcement contains some need-to-know items for production staff.  Be sure to check out the changes on second homes. Rule Synopsis: Fannie Mae is updating their selling guide for a variety [...]

2019-05-08T17:58:10-05:00May 10th, 2019|Fannie Mae, Social Media Posts|

Did You Know … the primary factor that differentiates a 2-unit property from a 1-unit property with an accessory unit is the zoning and land use requirements?

Related Article Title:  Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-9 – Dated May 1, 2019 [NEW Worksheet – Freddie Mac Verification of Funds for Income After Note Date] Written By: Lloyd Rutherford, Staff Writer This month’s Freddie Mac Bulletin contains some little changes that could have a big impact on your business, so [...]

2019-05-08T18:03:40-05:00May 10th, 2019|Freddie Mac, Social Media Posts|

Effective August 1, 2019 Freddie Mac will require lenders to disclose any information that they are aware of that may adversely affect the market value, condition or the marketability of the subject property. This would include known information on contaminated sites, hazardous substances or other adverse conditions.

Related Article Title:  Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-9 – Dated May 1, 2019 [NEW Worksheet – Freddie Mac Verification of Funds for Income After Note Date] Written By: Lloyd Rutherford, Staff Writer This month’s Freddie Mac Bulletin contains some little changes that could have a big impact on your business, so [...]

2019-05-08T18:06:45-05:00May 10th, 2019|Freddie Mac, Social Media Posts|

VA has clarified that because the appraiser does not do any operational checks of mechanical systems or appliances, the utilities are not required to be turned on when the appraiser visits the property.

Written By: Tracey Rumsey, Staff Writer VA has gone into full throttle revision mode.  In last month’s issue we highlighted changes, updated many charts and MTPs, and created some reference pieces to accompany the new changes.  If you work with VA loans, this article is a must read. Rule Synopsis: The VA continues to update the [...]

2019-05-08T17:55:42-05:00May 10th, 2019|Social Media Posts, VA|