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Time Adjustments

No Time Adjustments!?

Time adjustments are not required.  Unless they are needed . . . Appraisal time adjustments are also labeled as “market conditions” adjustments.  Or, more recently in Evidence Based Valuation, “Market Price Indexing (MPI)©”. The FHFA blog post of 1/16/2024 defines “underappraisals” as those loan appraisals which come in below the contract price.  The rising market […]

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Time for Time Adjustment? Pt 2

Time adjustments have long been required as good appraisal practice.  On the residential side, they are required in guidelines issued by FannieMae and FreddieMac (the GSEs). Unfortunately, the requirement for time adjustments (“market conditions”) has been ignored by the lenders selling to the GSEs (Government Sponsored Enterprises).  Why? Editor’s Note: Read Part 1 of this […]

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