A temporary change in policy allows borrowers to use loans insured by the Federal Housing Administration to finance some properties owned less than 90 days, according to a letter from the U.S. Department of Housing and Urban Development.
Freddie Mac announced in Bulletin No. 2010-2 a revision to its single-family seller-servicer guide.
The Title/Appraisal Vendor Management Association — whose members include appraisal management companies — said in a statement that its members are prepared to help lenders maintain compliance with FHA appraisal changes that recently went into effect.
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