The mortgage industry collectively shuddered today as the Senate approved Rohit Chopra as director of the CFPB for a five-year term.
Good afternoon —
Starting in early 2022, Fannie and Freddie will accept loans with desktop appraisals on a permanent basis. As Senior Mortgage Reporter Georgia Kromrei notes in her article, the crowd at MBA Annual burst into applause at the news, which FHFA Director Sandra Thompson announced from the stage.
Thompson said the GSEs will allow appraisals to be conducted remotely, using public records such as listings and tax appraisals.
Sandra Thompson, acting director of the FHFA, said both Fannie Mae and Freddie Mac will allow appraisals to be conducted remotely, using public records such as listings and tax appraisals, for purchase loans starting in early 2022.
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