Appraisal Changes Coming for Fannie Mae Loans

Appraisers will be required to use American National Standards Institute – or ANSI – Measuring Standard for measuring, calculating and reporting gross living area and non-GLA areas of properties requiring interior and exterior inspections on loans sold to Fannie Mae.

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FHFA issues new appraisal standards, effective Sept. 1

New standards for appraisals were recently announced by the Federal Housing Finance Agency (FHFA) and take effect September 1. The Uniform Appraisal Dataset (UAD) was created to improve the quality and consistency of appraisals on mortgages for Fannie Mae and Freddie Mac, according to FHFA.

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PAR Service
Misinformation creates HVCC confusion

Many REALTORS® think HVCC only affects appraisers but that’s not the case, according to Michelle Czekalski Bradley, PA Certified General Appraiser with Czekalski Real Estate Appraisal. HVCC has an effect on everyone industry-wide including REALTORS® because they’re part of the transaction.

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