appraisal requirements: USDA Home Loan Refinance With No Appraisal in North Carolina - 02/24/12 06:58 AM
NC Residents are getting an added benefit from the Obama Administration during the next 24 months.  In a program announced for the economically hardest hit counties in the Country, last week USDA announced a new Streamline Refinance Program!
NOT ALL STATES HAVE THIS PROGRAM.  It is unique to North Carolina.
Under the new program folks refinancing their USDA Home Loan will need to meet the following guidelines:
No appraisal required – the current residence must be in a USDA “Footprint Area” and currently be insured under the USDA program.  So refinancing from a Conventional loan or a FHA loan to USDA … (4 comments)

appraisal requirements: New Appraisal Guidelines from Fannie and Freddie 6-30-2010 - 07/07/10 06:23 PM

On February 15, 2010 The Federal Housing Administration adopted new appraisal guidelines that include "geographic competency" requirements.  Effective June 30, 2010 Fannie Mae adopted similar requirements, a move that we think is important.
The HVCC ruling came from NY Attorney General Cuomo and it is intended to protect appraisers from coercion from lenders.  Since May of 2009, large banks have been using the HVCC  (Home Valuation Code of Conduct) as a way to create "revenue" centers.  Because the ruling prohibits lenders to SPEAK to an appraiser (or email, txt whatever) Big Banks set up "companies" that collect (for instance) $450 for an appraisal, and then pay the … (43 comments)

Eleanor Thorne, Cary Mortgage Loans  919-649-5057 (Steve Thorne NC Mortgage Experts) Ambassador large

Eleanor Thorne

Cary Mortgage Loans 919-649-5057

Cary, NC

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Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Office: (919) 649-5058

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