Posts Tagged appraisals

03.24.2009

The Ever Changing World of Appraisals

Appraisers have it easy. All they have to do is look at some numbers on the computer and take a few photos.
Oh, really?
Mortgage lenders rely on everything the appraiser does. Not only the originating lender but every investor who buys that loan throughout its life.
Fannie Mae has some very strict guidelines which change regularly and [...]

01.7.2009

FHA Cash Out Refi >85% requires two appraisals

Fore loans submitted on or after January 1, 2009 (casefile created), FHA now requires a second appraisal for cash-out refinances with the loan to value is greater than 85%. This means if your home is valued at $200,000 and your loan amount is $170,100 you will need the second appraisal. If your loan amount is [...]

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