A new appraisal-data requirement is now in force for lenders selling loans to Fannie Mae and Freddie Mac. Beginning Monday, November 2, newly submitted appraisal reports must use Uniform Appraisal Dataset 3.6 unless a lender has obtained a temporary exception from the...
Fannie Mae and Freddie Mac have made a standardized property data report mandatory for vendors that collect property information in eligible mortgage transactions, replacing the assortment of report layouts that lenders previously had to accommodate. In a joint...
The Federal Housing Administration is now testing the mortgage industry’s redesigned appraisal-data standard in its production environment, putting FHA lenders into the next phase of a transition that is already much further along at Fannie Mae and Freddie Mac. FHA’s...
Fannie Mae is giving lenders that cannot meet the Nov. 2 deadline for the mortgage industry’s new appraisal-data standard a temporary path to keep submitting legacy UAD 2.6 appraisals into 2027 — but the accommodation comes with increasingly significant...
Six Democratic senators have introduced legislation designed to address the potential for systemic bias in the home appraisal process. The Appraisal Modernization Act would require the Federal Housing Finance Agency to publish an online database of property-level...
Redwood Trust Plans to Abandon REIT Status, Cut Dividend After $47 Million …
