New GSE appraisal database to tighten scrutiny on mortgage lenders

Lendesk is a Canadian technology company that is modernizing the mortgage industry for Mortgage Brokers and Lenders. Lendesk is piloting a graceful Point of Sale (POS) System for Brokers and a connection to Canada’s top Institutional Lenders including Scotia Mortgage Authority (Scotiabank), First National Financial, CMLS Financial, Equitable Bank, Merix, NPX, Lendwise, and more.

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According to the source post: HousingWire.com "New GSE appraisal database to tighten scrutiny on mortgage lenders" – Appraisers began submitting electronic property data for mortgages sold to Fannie Mae and Freddie Mac under new guidelines that took effect Thursday (9/1/11).

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Government-sponsored enterprise (GSE) Fannie Mae has announced a new appraisal analysis application for lenders, Collateral Underwriter, which will be available early next year. Fannie Mae says the tool will allow lenders to compare appraisals against the GSE’s database of appraisal.

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New features include. s 2018 U.S. Primary Mortgage Origination Satisfaction Study – are allindependents? Why do many independent lenders beat large banks when it comes to satisfying their borrowers.

However, banks are retreating from mortgage lending for three primary reasons: (1) limitations on resources to cope with defaulted loans; (2. While FHFA’s recent proposal to tighten eligibility.

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 · These new policies on appraisals are made possible by the development and adaptation of new technologies and the massive amounts of data by Fannie, Freddie and mortgage lenders will also help more.

Private mortgage insurance (PMI) is extra insurance that lenders require from most homebuyers who obtain conventional loans that are more than 80% of their new home’s value. In other words, buyers with less than a 20% down payment are normally required to buy PMI.

Lenders want to make sure that homeowners are not over-borrowing for a property because the home serves as collateral for the mortgage. If the borrower should default on the mortgage and go into.