On September 11, 2017 NAR senta a letter to Director Mel Watt of the Federal Housing Finance Agency. The letter was in response to the recent announcements by Fannie Mae and Freddie Mac (collectively the Government Sponsored Entities or GSEs) allowing for the waiver of traditional on-site appraisals for certain home purchase transactions. NAR is supportive of innovation in the housing industry as it relates to improving home financing transaction for buyers and sellers, but urges caution when dealing with safety and soundness elements such as the appraisal.
NAR Letter to FHFA Director Mel Watt Regarding GSE Appraisals and Alternate Valuation Methods
Issue Date: September 11, 2017
On September 11, 2017 NAR senta a letter to Director Mel Watt of the Federal Housing Finance Agency. The letter was in response to the recent announcements by Fannie Mae and Freddie Mac (collectively the Government Sponsored Entities or GSEs) allowing for the waiver of traditional on-site appraisals for certain home purchase transactions. NAR is supportive of innovation in the housing industry as it relates to improving home financing transaction for buyers and sellers, but urges caution when dealing with safety and soundness elements such as the appraisal.
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