Extraordinary Leadership for North Dakota Banks
menu
menu
Advocacy
Strategic Partners
Education
NDBanks Benefit Trust
Communications
About
Events
Career Network
Sign In
Extraordinary Leadership for North Dakota Banks
About
Events
Career Network
Sign In
Advocacy
Ask Kennedy
Bank Exam Prep Center
Legislative Updates
Legal Publications
Legal Counsel
Legislative Committee
NDBankPAC
Advocacy Resources
Strategic Partners
Endorsed Vendors
Partner Resources
Business Partner Directory
Associate Member Listing
2024 Associate Member Guide
Associate Member Benefits
Associate Member Application
Sponsorship Opportunities
Advertising Opportunities
Education
Peer Groups
Conferences
Schools
IT Certification Programs
Online Training
Financial Literacy
NDBanks Benefit Trust
NDBBT Board of Directors
Communications
News
NDBA Bulletin
Service Award Application
Directory
Advertising Opportunities
Bank Holiday Signs
Advocacy
Strategic Partners
Education
NDBanks Benefit Trust
Communications
Home
»
Communications
»
News
»
FHFA Updates Fannie Mae, Freddie Mac Policies on Appraisals, Loan Repurchase Alternatives
FHFA Updates Fannie Mae, Freddie Mac Policies on Appraisals, Loan Repurchase Alternatives
Posted:
Oct 30 2024
The Federal Housing Finance Agency has announced updates to several Fannie Mae and Freddie Mac policies that the agency said are intended to promote cost savings in the single-family mortgage market. The policy revisions came about after “robust engagement” with public- and private-sector stakeholders, FHFA said.
Among the policy revisions is expanded eligibility for appraisal waivers on purchase loans, FHFA said. Fannie and Freddie “will expand eligibility for appraisal waivers and inspection-based appraisal waivers, which leverage property data collected by a trained and vetted professional. This policy builds on the long-running success of appraisal waivers by allowing more borrowers, particularly first-time and low- to moderate-income borrowers, to benefit from cost savings and reduced closing times.”
Other updates include expanding the Uniform Appraisal Dataset to include Federal Housing Administration data and expanding eligibility for Freddie’s performing loan repurchase alternative pilot. Also, for loans delivered through the mortgage-backed security swap channel, there will be a new 60-day advance notice requirement for increases to Freddie and Fannie’s base guarantee fees greater than one basis point.
To read more, visit:
https://www.fhfa.gov/news/news-release/fhfa-announces-updates-to-enterprise-policies-on-appraisals-loan-repurchase-alternatives-and-pricing-notifications