The Federal Housing Administration will require lenders to submit full electronic appraisals for the mortgages it insures — a risk management practice Fannie Mae and Freddie Mac adopted two years ago.
The agency, part of the Department of Housing and Urban Development, is developing a Web portal for lenders and their appraisal management companies to meet the new requirement beginning next year. The project will benefit from the heavy lifting Fannie and Freddie have already done. Read full article
