CENTURY 21 ProLink Blog

August 24th, 2010 10:20 AM

Information provided by mortgage lender, Wendy Jackson with First American Bank

712-224-2603

www.bankfirstamerican.com

Fannie Mae is changing appraisal guidelines in reference to the pictures that the appraiser is required to include in their appraisal report. Below is the change...

 Effective with loan applications dated on or after September 1, 2010, interior photographs of specific rooms and areas must be included in appraisal reports whenever an interior inspection is performed for a conventional loan. The interior photographs must include:  The kitchen; All bathrooms; Main living area; Examples of physical deterioration, if present, and; Examples of recent updates, such as restoration, remodeling, and renovation, if present.

 

Reference: Fannie Mae Announcement SEL-2010-09

 

Posted by Virginia Anderson, Project Mgr on August 24th, 2010 10:20 AMPost a Comment (0)

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