Appraisals Not Always Needed for Fannie and Freddie Mortgages

Periodic updates for residential appraisers serving fannie mae lender customers IN THIS ISSUE. known whether an appraisal will be required. Desktop Underwriter® issues that decision after. although not always valid, is at least common, not assignment-specific..

Conforming Underwriting Guidelines On Conventional Loans Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country – Freddie Mac and Fannie Mae – think not. With no formal public.

Similarly, for those homeowners who are looking to refinance, Fannie Mae and Freddie Mac will not require an appraisal for a cash-out refinance if the new loan amount is less than 70% of the original appraised amount. For limited cash-out refinances, the appraisal exemption applies to loans up to 90% of the original appraised value.

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Freddie Mac has begun offering an alternative to appraisals on certain types of purchase and refinance loans, moving to match their counterparts at Fannie Mae.This is great for clients because it means there’s one less hurdle to worry about when looking to purchase or refinance a home.

Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country – Freddie Mac and Fannie Mae – think not. With no formal public.

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This program is reserved for those with loans backed by Fannie Mae or Freddie Mac. Borrowers must be current on their loans (one late payment permitted in past 12 months, none in past six) and the loan must have been sold to Fannie or Freddie on or before May 31, 2009. FHA-to-FHA Refinance Doesn’t Require an Appraisal

Everything you need to know about Fannie, Freddie appraisal-free purchase mortgages. And how many Fannie and Freddie financed loans will qualify?. Freddie ACE loans did not need to have a.

This is a database into which lenders enter home appraisals for any mortgages that are submitted to Fannie Mae or Freddie Mac. This is a huge treasure trove of electronic information that is collected by human appraisers that Fannie and Freddie can use to come up with automated appraisals, but it only has been in existence for five years.