FHA Appraisal Policy REMINDER; Approve/Ineligibles; How PIIGS impact MBS; ING & YSP
Posted To: Pipeline Press
I once worked in an office where there was a sign that read: "AFTER COFFEE BREAK STAFF SHOULD EMPTY THE COFFEE POT AND STAND UPSIDE DOWN ON THE COUNTER." Someone either couldn't write or had a sense of humor. Speaking of the workplace, next Monday is a holiday for most companies! Banks, post offices, and commentary writers are shut down… Even though it is only the 11 th , don't forget that that the FHA's new appraisal policy is effective with case numbers assigned on/after February 15 : FHA-approved lenders are prohibited from accepting appraisals prepared by FHA Roster appraisers who are selected, retained or compensated in any manner by a mortgage broker or any member of a lender's staff who is compensated on a commission basis. (Mortgagee Letter 09-028.) READ…(read more)
FHA Appraisal Policy REMINDER; Approve/Ineligibles; How PIIGS impact MBS; ING & YSP
Posted To: Pipeline Press
I once worked in an office where there was a sign that read: "AFTER COFFEE BREAK STAFF SHOULD EMPTY THE COFFEE POT AND STAND UPSIDE DOWN ON THE COUNTER." Someone either couldn't write or had a sense of humor. Speaking of the workplace, next Monday is a holiday for most companies! Banks, post offices, and commentary writers are shut down… Even though it is only the 11 th , don't forget that that the FHA's new appraisal policy is effective with case numbers assigned on/after February 15 : FHA-approved lenders are prohibited from accepting appraisals prepared by FHA Roster appraisers who are selected, retained or compensated in any manner by a mortgage broker or any member of a lender's staff who is compensated on a commission basis. (Mortgagee Letter 09-028.) READ…(read more)