Fannie Mae’s Secret Mission? Eliminate the Appraisal Industry
massive devastation to appraisers across the country
ANSI and “Who Knows What”
Before 2022, appraisal reports contained an assortment of square footage details reported from different sources. The subject was measured by the “who knows what” method with different methodologies used all across the country. The comparables were a combination of...
ANSI
Starting April 1, 2022 Fannie Mae begins mandating the ANSI standard. This is a great time to read the standard, read a book, or take a class to refresh your knowledge of ANSI. The biggest mistake we’ve found to date is that people make a one line disclosure to...Is ANSI for Appraisers Really the Answer?
Is ANSI for Appraisers Really the Answer? The real estate industry has a square footage credibility problem. ANSI has been out since 1996 with no new pages added and very few changes. In a constantly changing industry with new home styles and designs, change is a...
Another nail in the coffin for appraisers. Death to consumer protection and mortgage investment security.
In one swoop of the pen, the Federal Deposit Insurance Commission (FDIC) Board of Directors, decided that home mortgages will no longer need to obtain an appraisal for loans under $400,000. With this increased threshold, apx. 72-75% of all home mortgage transactions...
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