New FHA Total Scorecard Guide Summary

Posted by Krista Sabol on Jan 9, 2012 in Appraisals, FHA, FHA/VA, IMU Blog, Operations, Origination, Processing, Quality Control / Audit, Underwriting What do I need to know about the new FHA Total Scorecard Guide? Download Copy Of The FHA Total Scorecard Guide 2011 As you may know FHA released a new FHA Total Scorecard Guide (TSG) with some pretty significant changes. Our team sat down and scrubbed the new TSG to identify and relay the changes to you on our blog. The details will most certainly be incorporated into our FHA Practical...
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Appraiser Independence Rules Effective 4/1/11

Posted by Krista Sabol on Feb 15, 2011 in Appraisals, Origination, Processing, Quality Control / Audit October 28, 2010:  The FRB published the first rule for mortgage lenders under Dodd Frank to specify the requirements for the Appraiser Independence rules.  It is an ‘interim final rule’.  They accepted comments until December 27, 2010 but followed with a statement that mandatory compliance is April 1, 2011. Scope per Final Rule: Applies to creditors, appraisal management...
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Appraiser Coercion or Not?

Posted by Krista Sabol on Jul 2, 2010 in Appraisals, Fraud, Origination, Processing, Underwriting Everyone in the mortgage industry, including borrowers are all too familiar with the challenge of trying to determine whether the comparables provided by the appraiser are adequate. Typically the underwriter is concerned that the value is inflated and the borrower and loan officer are concerned that the value is too low. The ‘tip toe’ around the home valuation code of conduct and requesting...
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