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December 12th, 2008 8:09 AM
Fannie, Freddie May Waive Appraisals for Refinancings (Update2)
By Dawn Kopecki

Dec. 10 (Bloomberg) -- Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, are considering forgoing new appraisals on refinanced loans to help struggling homeowners, their regulator said.

“If they refinance someone, rather than doing a loan mod, do they need a new appraisal if they already have the credit?” Federal Housing Finance Agency Director James Lockhart told reporters after a speech in Washington today. “That’s an issue that’s being discussed. They’re looking at it.”

See full report:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amYW0UdC2LdY


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Posted by Rodney Cluff on December 12th, 2008 8:09 AMPost a Comment

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