category

No more appraisals on order

Starting May 1, Fannie Mae and Freddie Mac will not purchase mortgages that not not follow the new The Home Valuation Code of Conduct. This is more than just window dressing, the appraisals must be done through a third party agency and are payable in advance at a flat rate of $455. This should help prevent sellers from colluding with appraisers.

,

Comments are closed.