New and Updated Underwriting and Eligibility Policies. Age of Credit Documents Selling Guide, B1-1-04, Allowable Age of Credit. Documents. The maximum age of credit documents is reduced from 120 days to 90 days for existing. construction and from 180 days to 120 days for new construction. Credit documents include. credit reports and employment, income, and asset documentation. The age of the documents is.
https://www.fanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0919.pdf
In no case may the appraisal be dated more than 1 year prior to the date of the Note. Property Inspection Reports/Condition and Marketability Reports (Fannie Mae Form 2070/Freddie Mac Form. 2075 may be dated no earlier than 120 days from the date of the Note. Continued on next page.
http://www.alliedlending.com/docs/Property-Appraisal.pdf
Fannie Mae will allow the use of an origination appraisal for a subsequent transaction if the following requirements are met: 1  The subsequent transaction may only be a Limited Cash-Out Refinance. 2  The appraisal report must not be more than 12 months old on the note date of the subsequent transaction.
https://www.fanniemae.com/content/guide/selling/b4/1.2/02.html
The subsequent transaction may only be a Limited Cash-Out Refinance. The appraisal report must not be more than 12 months old on the note date of the subsequent transaction. If the appraisal report is greater than 4 months old on the date of the note and mortgage, then an appraisal update is required.
https://www.fanniemae.com/content/guide/selling/b4/1.2/02.html
If they were sold with exposure to the market, listed in. MLS they should be considered. How long is the FHA case # good for (not the appraisal, but the actual case #)? the case number is valid for 6 months unless the appraiser expires prior to the 6 month time frame.
http://portal.hud.gov/hudportal/documents/huddoc?id=pfaq.pdf
No the borrower can only pay for one appraisal. Your question about Comps is not acceptable, Comps over 1 year old for comps 1-3 are not. acceptable, but supporting comps are with an adequate explanation from the Appraiser. Comps, over one year old would be acceptable, onlywith a waiver request by the lender.
http://portal.hud.gov/hudportal/documents/huddoc?id=pfaq.pdf
The appraisal may be dated no earlier than 120 days from the date of the Note, regardless of whether the. property was appraised as proposed or existing construction. When the appraisal will be more than 120 days old but less than 1 year old on the date of the Note, the.
http://www.alliedlending.com/docs/Property-Appraisal.pdf
This inspection and results of the analysis must be reported on the Appraisal Update and/or Completion Report (Form 1004D). 1  If the appraiser indicates on the Form 1004D that the property value has declined, then the lender must obtain a new appraisal for the property.
https://www.fanniemae.com/content/guide/selling/b4/1.2/02.html
Unfortunately, that is a complete new order (and expense), as one year is a lifetime where property values are concerned. Thanks for the information, however I asked for the PMi to be removed just over 3 months after the appraisal. In fact, the manager at Nationstar said it was 91 days and not valid per Fannie Mae.
http://www.city-data.com/forum/mortgages/1081297-time-limit-appraisal-before-no-longer.html
Reputation: 6463. Actually, Fannie Mae and FHA went to 120 days, but at no time were they ever over 6 months for existing construction. Generally, comparables from August 2009 could not be included on an appraisal report today, so there is no way an appraisal issued then would be acceptable.
http://www.city-data.com/forum/mortgages/1081297-time-limit-appraisal-before-no-longer.html
how many days is an appraisal good for a fannie loan
An appraisal is good for 120 days from the date of the Note for a Fannie loan. An appraisal is good for a Fannie loan is 120 days from the date of the note.