http://realestateappraisertips.info/ – Business Week: Real Estate Appraisers Face Major Changes
Home Appraisers Face Major Changes Ahead!
The January 18, 2009 Edition of Business Week had an interesting Home Appraiser Related article: Real Estate Appraisers Face Big Changes
Here’s a snippet as quoted from the article: “Now the industry is about to undergo a shakeup. On Jan. 9, Fannie Mae (FNM) and Freddie Mac (FRE) announced revisions to their Home Valuation Code of Conduct. Starting on May 1, lenders that want to sell their loans to the two industry behemoths must follow the new guidelines. Mortgage brokers and Realtors are no longer able to choose appraisers. They will be selected by lenders, which are not allowed to influence appraisers by withholding payments or promising future work. If lenders have in-house appraisers, the bank’s loan-origination department is not allowed to influence their valuation decisions or supervise their work. “
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