Fannie Mae's Collateral Underwriter(CU) Now Available to Lenders

On Jan. 26, 2015, Fannie Mae’s Collateral Underwriter (CU), an appraisal risk-assessment tool, became available to lenders.  CU is a tool that lenders can use to assign a risk score to appraisals and identify aspects of the appraisal that may require further attention.  The tool can provide the lender a list of additional comps for possible appraiser review.  NAR is proactively working with Fannie Mae to address NAR member questions about how lenders are implementing CU and concerns about possible loan closing delays due to additional appraisal reviews.  NAR… Read More

Fannie Collateral Underwriter Lender Letter

On Feb. 4, 2015, Fannie Mae released Lender Letter 2015-02 to provide clarifications and additional information about Collateral Underwriter, Appraiser Quality Monitoring (AQM) and updates to the Property Eligibility and Appraisal Requirements section of the Selling Guide.

The lender letter stresses that the lender must not make demands or provide instructions to the appraiser based solely on automated feedback.  Before asking the appraiser to consider any additional sales, the lender must determine if the… Read More

Fannie Mae’s Collateral Underwriter (CU) Now Available to Lenders

On January 26, 2015, Fannie Mae’s Collateral Underwriter (CU), an appraisal risk-assessment tool, became available to lenders. CU is a tool that lenders can use to assign a risk score to appraisals and identify aspects of the appraisal that may require further attention. The tool can provide the lender a list of additional comps for possible appraiser review. NAR is proactively working with Fannie Mae to address NAR member questions about how lenders are implementing CU and concerns about possible loan closing delays due to additional appraisal reviews. NAR’s Real Property… Read More

Fannie Mae’s New Appraisal Risk-Assessment Tool: Collateral Underwriter (CU)

At the end of January 2015, Fannie Mae will make Collateral Underwriter (CU), an appraisal risk-assessment tool, available to lenders.  CU is an optional, free tool that lenders can use to assign a risk score to appraisals and identify aspects of the appraisal that may require further attention.  The tool can provide the lender a list of additional comps for possible appraiser review.  NAR members are concerned that this could add time to the appraisal process and force appraisers to use lower-value, lower-quality comps—a tool that appears to encourage lower-value… Read More

Third Exposure Draft – Valuation of Green and High Performance Property: Background and Core Competency

The Appraisal Practices Board (APB) of The Appraisal Foundation has issued the following document for comment:

Third Exposure Draft – Valuation of Green and High Performance Property:  Background and Core Competency

All interested parties are encouraged to comment in writing to the APB before the deadline of December 12, 2014. Respondents should be assured that each member of the APB and the SME Group will thoroughly read and consider all comments.

Written comments on this Exposure Draft can be submitted by mail, email and facsimile.

Mail:

Appraisal Practices Board

The Appraisal Foundation

1155 15th Street NW, Suite 1111

Washington, DC  20005

Email: 

APBComments@appraisalfoundation.org

Fax:

202.347.7727

If you have any questions regarding this Exposure Draft, please contact Staci Steward at staci@appraisalfoundation.org.

Realtors® Should Embrace Online Data, Educate Consumers about Valuations

NEW ORLEANS (November 8, 2014) – Realtors® shouldn’t be afraid of the plethora of available real estate data online, and it’s their responsibility to educate buyers and sellers about the different valuation models and data available, according to panelists at a property valuation forum here at the 2014 Realtors® Conference & Expo.

The panelists discussed the challenges of helping buyers and sellers understand the difference between actual appraisals and those from automated… Read More