New GSE appraisal database to tighten scrutiny on mortgage lenders

GSE appraisal database tightens scrutiny on mortgage lenders – HousingWire Posted on September 2, 2011 by admin appraisers began submitting electronic property data for mortgages sold to Fannie Mae and Freddie Mac under new guidelines that took effect Thursday.

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GSEs Tighten Up Borrower Scrutiny, Despite Looser Underwriting By Jerry Ascierto A quirky dynamic is at play these days at the government-sponsored enterprises (GSEs)-borrower scrutiny is at an all-time high, even as credit conditions begin to loosen .

With a 2015 cap of $399B, factoring in non-agency MBS and whole loan holdings, it was estimated by some that heading into the new year the GSE’s were likely. Mae and freddie mac. data integrity.

This has truly gone way over my head. Eating or being eaten by perceptions. Makes not the least bit of sense even after the explanation. Let’s see, this started out as something about the UAD enabling predatory appraisal report data mining by the GSEs or those favored few who gain access to the GSE files.

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New GSE appraisal database to tighten scrutiny on mortgage lenders Jenifer Contents Appraisal Mortgages exceed regional averages Class 3 seat beginning Congress.fha preps tax credit House capital markets subcommittee

The Washington-based mortgage. scrutiny of the building and the buyer. Lenders have been using an automated system to assess loan risk, and the new guidelines seem to acknowledge that risky loans.

The more crucial question of whether to avert the devastating sequestration of federal funds and if so, how, remains unanswered. Continuing to loom over us all are the automatic cuts to discretionary spending called for in the budget control act of 2011 that could still devastate affordable housing and homelessness prevention programs in the.

MBA: New home purchase mortgage apps rise 5% Builder MBA: Mortgage Applications Rise 4.9%, Interest Rates Still Rising Average contract interest rates for jumbo loans and loans backed by the FHA both rose above 5% this week.

Appraisal Determines the Loan-to-Value Ratio. The higher the LTV, the greater the risk that the bank will not get its money back if the home goes into foreclosure for any reason. Most lenders require you to purchase mortgage insurance if the LTV is higher than 80 percent to offset the risk to the lender.

The loan-application process doesn’t change for the lender or borrower. New and updated fields reflect changes in policy and underwriting standards, helping lenders better comply with new regulations. New borrower-demographic information, for example, will be solicited to comply with updates to the Home Mortgage Disclosure Act.