Few states have laws defining an “abandoned property,” leaving servicers with local ordinances and case law as their guides in many foreclosure procedures.
Once a “flexibility” intended to help lenders deal with the pandemic, the desktop appraisal is about to become a permanent fixture of Freddie’s Loan Advisor and Fannie’s Desktop Underwriter.
Market growth in 2022, though more restrained than in 2021, should give Fannie and Freddie plenty of runway to hit their multifamily caps for the year.
The mortgage industry has resigned itself to no administrative end to the Fannie and Freddie conservatorships. It’s still unclear what happens to the GSEs’ capital requirements.