Bloomberg News reported on Wednesday that Fannie Mae
is proposing to ban the use of appraisals by a lender’s
employees or those arranged by mortgage brokers.
The proposed change would mean that Fannie Mae would no longer
authorize its lending partners to use appraisers employed by a
wholly owned subsidiary and, while we have not seen the memo, apparently
it contains reference to the eventual establishment of an appraisal
clearinghouse which we assume would assign appraisers to a project…