Category Archives: GSE

Unraveling Fannie Mae Guidelines

In August, I reported on an educational session I attended at The Appraisal Institute (AI) annual conference in Austin, Texas, on Aug. 4-6, 2014. In that article, I mentioned Robert Murphy from Fannie Mae covered some of the changes made in the first major update to the property and valuation section of the Fannie Mae Selling Guide since 2009. This is very important to appraisers because the Selling Guide is… Continue reading

Posted in Appraisal Institute, Appraising, FNC, GSE | Comments Off on Unraveling Fannie Mae Guidelines

Regulatory and Compliance Update with Shawn Telford and Neil Olson

The following is a discussion between Shawn Telford, Managing Director, and Neil Olson, General Counsel, as part of FNC’s July 9 webinar on Regulatory & Compliance Updates.

Neil Olson: Regulations are still in motion, even though it’s summer.

Shawn Telford: The MISMO cutover will happen on Sunday. We’re prepared and ready. UCDP warnings and hardstops – GAAR® is in place to help you as part of your… Continue reading

Posted in FNC, GSE, Lending, Technology, Valuation | Comments Off on Regulatory and Compliance Update with Shawn Telford and Neil Olson

VIDEO: The Great Unwind

In today’s episode of FNC Morning View, hosts Bill Rayburn and Bob Dorsey discussed some issues involved with winding down the GSEs and starting a private secondary mortgage market. They talked about some of the things that must be brought to the marketplace to attract private capital: Bill said transparency at the loan level; quantification of bondholders’ risks; process standardization and third-party independence are necessary. Bob added that well-defined… Continue reading

Posted in GSE | Tagged , | Comments Off on VIDEO: The Great Unwind

Freddie Mac Proprietary Rules

Freddie Mac has recently proposed to institute a number of proprietary rules to be associated with the UCDP submission process. These rules all involve the use of the Freddie Mac AVM, Home Value Estimator (HVE). Since all AVM models are imperfect estimators of value, the use of the HVE model will result in some warnings being delivered in error and also the failure to issue some warnings when they should… Continue reading

Posted in Analytics, GSE, Valuation | Tagged | Comments Off on Freddie Mac Proprietary Rules

The Importance of being Earnest: Data Verification in Appraisal Compliance.

When the Home Valuation Code of Conduct (HVCC) was instituted, many lenders began outsourcing their appraisal procurement and other collateral valuation process to AMCs as they felt it was easier to stay in compliance using a third party.  Putting it simply, HVCC was intended to increase oversight and eliminate improper pressure and relationships between lenders and appraisers. Since the advent of the HVCC, now replaced by the very similar Appraiser… Continue reading

Posted in Appraising, FNC, GSE, Lending, Mortgage, Valuation | Tagged , , , , | 1 Comment

Thankful for Higher FHA Loan Limits?

FNC’s Morning View callers couldn’t see Bill Rayburn’s pink shirt, pink tie, and yellow ascot on Monday, but he and Bob Dorsey were in a festive mood going into the Thanksgiving holiday weekend.

Bob: We need to talk about important stuff first. Have you got your turkey yet, or are you having a pig this year?

Bill: We got a lot of turkey. We got a lot… Continue reading

Posted in GSE, Mortgage | Tagged , , , , , , , | Comments Off on Thankful for Higher FHA Loan Limits?

Calm Amid Chaos

Chaos. That’s what some mortgage industry experts are predicting will happen when Fannie Mae and Freddie Mac’s UCDP initiative takes effect next month.

As of Dec. 1 — just over two weeks away — mortgage lenders will be required to upload their appraisals as electronic data via the GSEs’ Uniform Collateral Data Portal (UCDP) for loan applications being delivered on or after March 2012. By now, lenders should not… Continue reading

Posted in GSE, Lending | Tagged , , , , | Comments Off on Calm Amid Chaos


For the last few months my life has been consumed by alphabet soup. This is the nickname that many people seem to adopt when first exposed to UADiand UCDPii. My experience with alphabet soup actually stretches as far back as 2009 when we began work on CDDiii. It therefore seemed a bit anticlimactic a month ago when UAD took effect. Almost every partyiv in the appraisal fulfillment vertical has been… Continue reading

Posted in Appraising, GSE | Tagged , , , , , , | 1 Comment

We’ve Got You Covered

In less than a month (on June 27), Fannie Mae and Freddie Mac will begin accepting appraisal reports through an internet portal specifically designed to receive the property information and valuations as electronic data. FNC clients will be ready.

For many months now, we’ve worked closely with the GSEs to ensure that our clients experience a seamless transition when the Uniform Collateral Data PortalSM (UCDPSM) goes live… Continue reading

Posted in FNC, GSE | Tagged , , , , , , , | Comments Off on We’ve Got You Covered

Bloggers, Researchers, Economists Examine GSE Housing Reform Options

“A growing number of observers are arguing that one of the Treasury Department’s proposed replacements is effectively the same system by another name,” writes Donna Barak in today’s American Banker.

The housing reform plan, presented in February by the Obama Administration and the Department of Treasury, outlines three options for the industry’s future:

1. Privatized system of housing finance with the government insurance role limited to FHA, USDA… Continue reading

Posted in GSE, Mortgage | Tagged , , , , | Comments Off on Bloggers, Researchers, Economists Examine GSE Housing Reform Options