Real Estate Lending
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Key Points to New Condominium Guidelines
Fannie Mae & Freddie Mac Condominium Rules Fannie Mae – Key Points Summary of Announcement FNMA 08-34 Amendments to Condominium Unit Mortgage Requirements 1 – Project Eligibility Review Service (PERS) is a project-acceptance review service for FNMA seller/servicers for new or newly-converted and established condo projects. This fee-based service requires lenders to submit by email […]
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Summary of Home Value Code of Conduct
Key Points by Kristin Seltman, Esq., Staff Attorney On May 1, 2009 all mortgage brokers & lenders must implement new procedures for ordering appraisals under the federal Home Valuation Code of Conduct. The law was established by the New York state Attorney General and Fannie Mae & Freddie Mac, now known as the Federal Housing […]
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Welcome to Compliance Monitor!
Compliance Monitor is a complimentary newsletter written for Bankers Advisory’s clients and associates. As a mortgage industry professional, you have little time to research and comprehend today’s ever-changing laws and regulations. Each issue of Compliance Monitor will feature a key regulation and offer additional resources to help your organization understand, implement and monitor compliance. Visit […]