Freddie Archive

Your UMDP & UAD Update

Government sponsored enterprises (GSE), Fannie Mae and Freddie Mac are reminding interested parties that December 1, 2011, is a pretty important date for the Uniform Mortgage Data Program (UMDP). Going foward, Uniform Loan Delivery Dataset (ULDD) data points must...
November 30, 2011

Federal Reserve Board Issues Appraiser Independence Regs

Yesterday, the Federal Reserve Board released an interim final rule on appraiser independence.  The much-anticipated interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).  In their release, the Fed states...
October 19, 2010

FHFA, GSEs Unveil Uniform Mortgage Data Program

Yesterday, the Federal Housing Finance Agency (FHFA) announced a new initiative by the government sponsored enterprises (GSE) Fannie Mae and Freddie Mac.  The Uniform Mortgage Data Program is a joint effort to create uniform data standards and collection processes. ...
May 25, 2010

NAR Calls for Implementation of IVPI

On April 6, 2010, the National Association of REALTORS (NAR)® President Vicki Cox Golder sent a letter to Federal Housing Finance Agency (FHFA) Interim Director Edward J. DeMarco asking that the government sponsored enterprises (GSEs), Fannie Mae and Freddie...

Freddie Mac Releases New Guidance for Appraisals

On July 10, Freddie Mac released Bulletin 2009-18 to sellers and servicers. The bulletin addresses appraisals and underwriting. Regarding appraisals, the bulletin focuses on qualified appraisers, credible appraisers, comparable sales, and monitory appraisal quality. Freddie Mac reminds sellers that...

NAR Calls for Delay of HVCC

On April 20, 2009, NAR sent a letter to Fannie Mae and Freddie Mac requesting that the Home Valuation Code of Conduct (HVCC) be delayed until May 1, 2010. Citing a host of reasons, NAR President Charles McMillan said...

Increase in Fees Required to Purchase Home

Ken Harney has an interesting article on the increase in fees that are being proscribed to home-buyers. He includes this section on appraisals: On top of these extra fees, borrowers are now starting to get hit with two sets...
April 20, 2009

Fannie Mae and Freddie Mac to Require Identifiers on Mortgage Applications

From the FHFA: Washington, DC – James B. Lockhart, Director of the Federal Housing Finance Agency, announced today that, effective with mortgage applications taken on or after Jan. 1, 2010, Freddie Mac and Fannie Mae are required to obtain...
January 26, 2009

Appraisers Not Happy with HVCC

From Ken Harney’s weekly real-estate column: Well, you might ask: Since appraisers in the past have often complained about pressure from loan brokers and realty agents to “hit the number” — that is, turn in valuations high enough to...
January 7, 2009

Freddie Mac Increasing Appraisal Requirements

From Appraisal Scoop, Freddie Mac is modifying their appraisal requirements. Looks like Freddie is requiring an appraisal update from 60 days of delivery of the mortgage. That used to be 120 days and 60 days on the conversion of...
October 7, 2008