The Federal Housing Finance Agency (FHFA) has announced an expansion of eligibility for appraisal waivers, but it is important to note that this does not equate to an expansion of credit box standards. FHFA deputy director Naa Awaa Tagoe emphasized that the increased eligibility for appraisal waivers is not indicative of a loosening of credit requirements. Instead, the goal is to streamline the home buying process and provide more flexibility for borrowers.
Key points:
– FHFA has expanded eligibility for appraisal waivers
– Deputy director Naa Awaa Tagoe clarifies that this does not mean a laxer credit box
– The focus is on simplifying the home buying process and providing flexibility for borrowers
– The changes aim to make the mortgage process more efficient without compromising lending standards.
You can read this full article at: https://www.housingwire.com/articles/fhfa-to-allow-alternative-appraisal-methods-on-purchases-up-to-97-ltv/(subscription required)
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