Appraisals

From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers' ability to get new loans, here are five examples of mortgage requirements that have been in flux since the coronavirus outbreak in the United States.

The measures extended by the Federal Housing Finance Agency include alternative methods used for certain appraisals and for verification of employment.

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

The post-crisis operational improvements at both Fannie Mae and Freddie Mac have resulted in stronger mortgage loan performance, a Fitch Ratings report said.

Because automated valuation models have not been subjected to a stressed housing market, their increased use holds negatives and positives for residential mortgage-backed securities credit quality, a Moody's report said.

Despite a lower rate of increase, 2019 equity gains could pull 350,000 households from being underwater on mortgages, according to CoreLogic.

As home value appreciation slowed, gains in home equity for the third quarter fell to the lowest level in two years, according to CoreLogic's homeowner equity report.

The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.