FHFA Directs Enterprises to Grant Flexibilities for Appraisal and Employment Verifications
Update from NAR’s Senior Policy Representative for Federal Housing & Valuation:
Today FHFA directed Fannie Mae and Freddie Mac to allow the use of appraisal alternatives to reduce the need for appraisers to conduct interior property inspections for eligible mortgages through May 17, 2020.
This should alleviate recent concerns over transaction delays due to a lack of appraisers able or willing to enter properties to conduct interior inspections.
For the full announcement, click here.