Written By: Lloyd Rutherford, Staff Writer, MortgageCurrentcy.com
Fannie and Freddie have released updates to their automated valuation requirements.
However, there are distinctions between the two that you should be aware of so that you use the correct system for the borrower.
Here’s a short synopsis, comparing the differences.
Take the time to read through this article so you can remove the appraisal cost to your client and the rep and warranty issue from your lender.
Resource: (Fannie Mae-DU Version 10.1 Release Notes – Updates PIW for Purchase Loans – Dated August 18, 2017-Effective August 19, 2017. Freddie Mac Bulletin 2017-13 – effective 9-1-17)
Subscribers, continue reading and download a comparison chart entitled, Appraisal Waiver Rules: Fannie vs. Freddie.
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Written By: Lloyd Rutherford