Very important information for lenders, appraisal management companies and appraisers was explained in a detailed 9 page letter from Fannie Mae, Lender Letter LL-2015-02, on February 4, 2015.
The letter was sent to Fannie Mae lenders. Fannie Mae does not directly distribute to real estate appraisers, so Valuation Management Group is making it available on our website, click here.
Points of Interest:
- Collateral Underwriter
- Adjustment to comparable sales
- Condition ratings
- Selection of comparable sales
- UCDP appraisal submissions
- Appraiser Quality Monitoring
By understanding Fannie Mae’s position on these important compliance topics, appraisers will be able to produce a quality report with less requests for revisions and/or additional commentary during the real estate appraisal review process.
Valuation Management Group is a national, full service appraisal management company that manages the appraisal process for community banks, mortgage bankers and credit unions. We offer the full array of commercial and residential appraisal products and services. We take the appraisal process from ordinary to extraordinary.