Wholesale ALERT – Appraisal Valuation Update for Conventional Investment and FNMA/FHLMC Second Home & Investment
Effective immediately and for all loans in the pipeline, the Arc Home Appraisal Valuation Requirements policy was updated for the Conventional 30 Year Fixed Rate Investment Property and FNMA/FHLMC 30 Year Fixed Rate Second Home & Investment programs, as noted below. The revised Arc Home Appraisal Valuation Requirements policy will be published on the website soon.
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Conventional Investment and FNMA/FHLMC Second Home & Investment
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Topic
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Previous Guideline
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New Guideline
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Appraisal Waterfall
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All appraisals must include a successful Submission Summary Report (SSR). Note: The Fannie Mae Collateral Underwriter (CU) score is required.
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All appraisals must include a successful Submission Summary Report (SSR). Note: The Fannie Mae Collateral Underwriter (CU) score is required. On FNMA/FHLMC Second Home & Investment and Conventional Investment products, if FHLMC Loan Product Advisor (LPA) is utilized to approve the loan and it provides an SSR score within the findings, then the Freddie Mac Loan Collateral Advisor (LCA) score must be utilized for the appraisal waterfall. Only one SSR score (either the Fannie Mae CU OR Freddie Mac LCA) may be in the loan file.
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