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Tag Archives: Appraisals

Fannie Mae Places Ban on ‘Appraisal Cutting’

Fannie Mae is implementing a new policy this week regarding home appraisals. Beginning Wednesday, lenders will be prohibited from making changes to appraisers' valuations - a practice that has become more widespread and is commonly referred to as ""appraisal cutting."" Fannie officials say they have identified cases where the lender reduced the opinion of market value in the appraisal report based upon underwriter judgment or automated valuation models, prompting the GSE to place a ban on so-called appraisal cutting.

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DRI’s New Default Management Platform Assists Overburdened Servicers

Default process management software provider DRI Management Systems, Inc., has announced its new Web-based, loan servicing application for the mortgage industry, Rincon. According to the California-based company, the Rincon platform helps overburdened servicers keep pace with demands for borrower assistance. Rincon is expected to double or triple the workload each servicing specialist can handle.

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FNC Inc. Partners with Integrated Asset Services

Mortgage technology firm FNC Inc. recently announced that it is partnering with Integrated Asset Services (IAS), a provider of collateral valuation and management services. The joint venture will offer FNC's servicing clients the option to procure more precise, next-generation real estate valuations, allowing users to formulate their property disposition strategies based on real estate value trend lines, the company explained.

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