Fannie Mae will begin offering appraisal waivers on some refinance transactions. This is great news as it will help transactions that qualify have a quicker closing and help reduce the work load for appraisers which will hopefully help expedite current appraisal turn-times. This will also help home owners save money on their transaction by not having to pay an appraisal fee, which have gone up dramatically over the last few months. [Read more…]
When the expanded guidelines of the Home Affordable Refinance Program (aka HARP 2) were released late last year, they announced that loan to value (LTV) restrictions were being removed. It all sounds very simple however, no big surprise here, there’s a little more to it.