MORTGAGE LOAN COMPLIANCE®

 

Back in September 2009 FHA officials outlined a number of risk management initiatives, including a new appraisal policy.

"FHA does not require the use of appraisal management companies or other third party providers, but it does require lenders take responsibility to assure appraiser independence," FHA officials said.

FHA officials initially set a January 1, 2010 effective date. Officials have now concluded that FHA lenders need more time to change to their systems and decided to give them 45 more days, according to sources.

The Federal Housing Administration is temporarily delaying the effective date of its new policy to shield appraisers from loan officer and mortgage broker pressure until Feb. 15.

The new policy would put FHA in synch with Fannie Mae and Freddie Mac and prohibit commission-based staff and brokers from selecting appraisers.

_______________________

Mortgage Loan Compliance® | Get The Facts on Your Loan and Protect Your Rights!

For A Limited Time Order A $59 Rapid Report Forensic Audits Or A $295 Certified Forensic Compliance Audits

Call Today 1-866-966-6615 or Visit www.ml-compliance.com

Posted by Customer Service on January 7th, 2010 8:22 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Securitization Audit

Forensic Audits

Rapid Report™

Title Audits

Mortgage Loan Compliance and its products are trademarks or registered trademarks of Mortgage Loan Compliance, Inc.  Other brand and product names are trademarks or registered trademarks of their respective owners. Advertisements and web-links made available imply no inference or approval of their products or services by Mortgage Loan Compliance or its family of companies, and officers.

PRIVACY POLICY | Contact Us | Home

Copyright © 2012 MORTGAGE LOAN COMPLIANCE®
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Terms of Use| Site Map