August 23, 2017
Fannie Mae Eases Appraisal Requirements on Lower LTV Mortgages
Fannie Mae announced Aug. 18 that lenders can forego appraisals on some loans with low loan-to-value ratios as part a larger program that waives property inspection requirements on lower-LTV mortgages. Fannie Mae said it will continue to require full appraisals on most purchase money mortgages.
“As Congress weighs how to roll up or roll out the conserved enterprises, it must ensure that taxpayers are not exposed to irresponsible decision making and unnecessary risk taking,” said Appraisal Institute President Jim Amorin, MAI, SRA, AI-GRS.
Read more about the Fannie Mae program.