Jul
15

Professional Affiliation among Freddie Mac’s New Appraisal “Best Practices”

By
– Appraisal Institute

Among Freddie Mac’s newly revised guidelines for mortgage lenders is an emphasis on the use of qualified and experienced real estate appraisers, including language that advocates hiring professionally affiliated valuation professionals. According to revised Freddie Mac guidelines, “Sellers should consider membership in a professional appraisal organization as a qualification criterion.”

Such language is seen as a victory by professional appraisal organizations, who for years have been asking for greater emphasis on the qualifications of appraisers and policies that promote the use of highly qualified and experienced appraisers.

“We applaud Freddie Mac for addressing this important requirement that will have a positive effect on millions of home buyers and sellers,” said Jim Amorin, MAI, SRA, president of the Appraisal Institute.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.appraisalinstitute.org/ano/current.aspx?volume=10&numbr=13/14

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