Fannie Mae and Freddie Mac are both government-sponsored enterprises (GSEs), which means that they’re private companies sponsored by the U.S. government. Both Fannie Mae and Freddie Mac have basically the same goal: to make it easier for the average American to obtain a home, by making it easier for them to get a mortgage on good terms.
Appraisals Not Always Needed for Fannie and Freddie mortgages september 22, 2017 By Mary Catchur According to reports from Fannie Mae and Freddie Mac, both companies are waiving appraisal requirements in some circumstances.
This eliminates the need for an appraiser and can speed up the mortgage process. Some lenders say the trend is moving toward more automated appraisals for all types of loans, from refinances and conventional loans to home-equity loans and FHA-insured mortgages. The lending world isn’t there yet.
Where appraisers could possibly make a winning argument is by arguing with higher LTV’s (BTW Fannie will do appraisal waivers up to 90% LTV on, but Freddie will not go over an 80% LTV), and/or loans that do not have a very strong credit profile should always require an appraisal.
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Fannie Mae is a government-sponsored enterprise that helps. Previously lenders were required. who could not be approved for a refi under the old rules. Though she was actually paying just $100 a month, Fannie’s mandatory 1 percent calculation rule required.
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Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country – Freddie Mac and Fannie Mae – think not. With no formal public.
· For example, fannie mae loans require a property inspection waiver in order to waive an appraisal, while Freddie Mac offers what is called an automated collateral evaluation. Both Freddie Mac and Fannie Mae have the ultimate discretion on whether or not they’ll be able to offer a waiver at any time, so it’s best to speak to one of our Home.
Are automated appraisals the wave of the future?. But automated appraisals have gotten a push thanks to the efforts of giant mortgage investors Fannie Mae and Freddie Mac, two companies that buy and insure a large percentage of the mortgage loans originated in the united states.. appraisers still needed. But mortgage professionals do say.