Respuesta :
The lender wishes to sell the loan to Fannie Mae.
Appraiser Independence Requirements (AIR) are a group of standards designed to switch the property appraisal house Valuation Code of Conduct (HVCC). The most objective was to preserve the intent of HVCC while continuing to boost security for mortgage investors, lenders, realty brokers, home buyers, and also the overall construction industry.
Both corp and corp require that every one single-family loan they purchase adhere to standards for solicitation, selection, compensation, and practitioner independence property appraisal when it involves home appraisals. A property's appraisal value is influenced by recent sales of comparable properties and by current market trends.
The home's amenities, the quantity of bedrooms and bathrooms, the ground plan's functionality, and also the square footage also are key factors in assessing the home's value.
The Appraiser Independence Requirements (AIR) were developed by Federal National Mortgage Association, the Federal Housing Finance Agency (FHFA), Freddie Mac, and key industry participants to exchange the house Valuation Code of Conduct (HVCC).
Lenders don't seem to be required to use AMCs. Lenders must make sure that appraisers are engaged independently and not unduly influenced. As a result, many lenders use Appraisal Management Companies (AMCs) to meet that role.
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