An FHA streamline refinance is a faster and cheaper way to get a better deal on your FHA-insured mortgage. Not all FHA.
Do we really need another. harney: fannie Mae will ease financial standards for mortgage applicants next month Millions of people will soon see their credit scores improve – at least a little For.
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A recent article in the chicago tribune included dire warnings from professional appraisers. One noted that property data used by Fannie and Freddie will age without being refreshed if new appraisals are not being conducted. Another warned that eliminating professional appraisals is akin to subprime mortgages that make it too easy to obtain.
Do we always need an appraiser to tell us what a house is worth? The country’s two biggest sources of mortgage financing – Freddie Mac and Fannie Mae – think not. With no formal public announcement, Freddie Mac on June 19 began phasing in its plan to transition to appraisal-free mortgages for certain loan applications.
Uniform appraisal dataset overview FreddieMac.com Publication Number 885 October, 2017 This communication relates to the Uniform Mortgage Data Program, an effort undertaken jointly by Freddie Mac and Fannie Mae at the direction of their regulator, the Federal housing finance agency.
· The main reason is the big banks want to be able to deliver their loans to both Fannie Mae and Freddie Mac. Having Freddie Mac stop at four, many of the larger lending institutions chose to go the conservative route and limit their exposure only to four. Fannie Mae has always been more aggressive in my opinion than Freddie Mac.
Fannie Mae and Freddie Mac are both government-sponsored enterprises (GSEs), which means that they’re private companies sponsored by the U.S. government. Both Fannie Mae and Freddie Mac have basically the same goal: to make it easier for the average American to obtain a home, by making it easier for them to get a mortgage on good terms.
Appraisers do quality work and have the evidence to support their evaluation, she said. This tool will help show that. Fannie released CU to lenders to provide a consistent process and review of all.
· Fannie Mae is now following suite in the appraisal-free arena by allowing property waiver inspections on some purchase loans. Last week, Freddie Mac extended its appraisal-free mortgage.