Beginning on July 1, 2017 the nation’s 3 largest credit bureaus will implement a reporting change that will significantly reduce the amount of tax-lien and civil-judgement information reported within consumer credit reports. This change, which was implemented under the National Consumer Assistance Plan (NCAP), will result in the elimination of the above reported items if consumers ...
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10 Tips to Save Money on Appraisals
February 28, 2017
With mortgage rates rising and loan volumes likely to decline as a result, it's more important than ever to find ways to lower your cost per loan and squeeze out inefficiencies across the mortgage and home equity loan process. To...
Read moreCan appraisals shield lenders from buybacks?
November 15, 2016
They can if the appraisal conforms to criteria recently outlined by Fannie Mae. Beginning December 10, 2016, lenders using Fannie Mae’s Collateral Underwriter® (CU™) tool will receive representation and warranty relief for the appraised value on properties with qualifying scores of 2.5 or...
Read moreFHA EAD compliance – what you need to know
March 1, 2016
Compliance Alert: Beginning June 27, 2016, all FHA loans will require Electronic Appraisal Delivery (EAD) through the FHA’s EAD portal.
The EAD portal is a web-based platform through which mortgagees, their authorized users and/or their designated third-party service providers (like Accurate...
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