Lender Appraisal Requirement Changes; New Digital Mortgage Services

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Posted To: Pipeline Press

NAR wrote a white paper detailing the barriers to homeownership and many of the reasons are well-known. Of course, real estate agents wish there were no underwriting or appraisal criteria whatsoever. (The biggest constraints are tighter mortgage lending, student loan debt, affordability issues, and a lack of supply.) And we have QM and ATR rules, and NAR concludes that these rules are hurting mortgage availability when they were intended to ease the burden on lenders. During the weekend of Dec. 9, Fannie Mae will implement Collateral Underwriter (CU) 4.2, which will add advanced functionality currently available only in classic CU to the new layout of the CU web application. This includes a new Advanced Search page, Market Trend page, and the ability to edit the subject and appraiser-provided…(read more)

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