Good Morning!
I wanted to let you know that on the 15th of Febrary FHA joined the ranks of Fannie Mae and Freddie Mac...
They now require appraisals to be ordered through a third party system. Loan officers are no longer allowed to order or have direct contact with FHA appraisers.
Like any new regulation - there is good and bad to it.
The good... It reduces the risk of artificially inflated property values.
The bad... Buyers, Sellers, Realtors, and Loan Officers will have to deal with properties not appraising more often.
...Oh well, another day - another federal regulation going into effect.
I hope you have a good day today. Thanks for reading!
Brett
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