Hot August Nights
Almost half way through the month of August.
Viewing my chalk board for the lending industry, a fancy way of saying looking outward six months. I see some changes that could have major impact on the mortgage brokers within our industry. Fannie Mae is going to have lenders select the appraiser not the originating loan officer.
Which can also complicate issues further if the loan is turned down by that specific lender. The appraisal is the lenders and not the mortgage brokers. To resubmit to a different lender a new appraisal will have to be ordered. If each report is $350- $450. that can get expensive very quick. I will keep you posted as more information comes in regarding this matter
Viewing my chalk board for the lending industry, a fancy way of saying looking outward six months. I see some changes that could have major impact on the mortgage brokers within our industry. Fannie Mae is going to have lenders select the appraiser not the originating loan officer.
Which can also complicate issues further if the loan is turned down by that specific lender. The appraisal is the lenders and not the mortgage brokers. To resubmit to a different lender a new appraisal will have to be ordered. If each report is $350- $450. that can get expensive very quick. I will keep you posted as more information comes in regarding this matter
posted by solar guy at
12:32 PM
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