New GSE appraisal database to tighten scrutiny on mortgage lenders

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In the appraisal space, any new standardized data point has to make its way into the appraisal form; work must be done by forms vendors; and appraisers need to update their software and understand the new data point. Lenders then need to ensure they can collect the data point and apply it where needed, and tech vendors must update their.

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Among other new duties, the underwriter will take extra time to review the appraisal with all its new acronyms, confusing terms and fields; then, send it to the investor for their data-base review, receive feedback (probably negative), run it by risk-management (which is a new internal review/approval process that each lender will need to employ to give a "thumbs up" or a "thumbs down" on whether or not they proceed with the loan in spite of negative feedback from the UCDP).

For instance it is believed that new risk retention regulations will not affect GSE loans. mortgage’ for purposes of this subsection, taking into consideration underwriting and product features.

New GSE appraisal database to tighten scrutiny on mortgage lenders; Home prices up the most since 2006; This gingerbread house is the worst real estate investment ever; Eminent domain debate turns the mortgage industry libertarian

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Home Appraisal in Phoenix Arizona (480-351-5637) | Mortgage Appraisal Services Provide the applicant, at the time of the initial mortgage application, with a statement that any appraisal prepared for the mortgage is for the sole use of the creditor, and that the applicant may choose to have a separate appraisal conducted at the applicant’s expense.

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.

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