On Feb. 4, 2015, Fannie Mae released Lender Letter 2015-02 to provide clarifications and additional information about Collateral Underwriter, Appraiser Quality Monitoring (AQM) and updates to the Property Eligibility and Appraisal Requirements section of the Selling Guide.

The lender letter stresses that the lender must not make demands or provide instructions to the appraiser based solely on automated feedback.  Before asking the appraiser to consider any additional sales, the lender must determine if the… Read More