![]() Revisions with respect desktop appraisals and the new Investor Feature Identifier are effective for mortgages with settlement dates on or after Septem(lenders may, however, implement the new Investor Feature Identifier immediately). Revisions with respect to certificates of incumbency, wire instructions, and ACH instructions are effective June 8, 2022. An Arm’s Length transaction would then be a transaction where all the parties involved are. Due to the increased layering of risk inherent in non-arms length transactions, further in-depth analysis is required to determine stability of the income. Revisions with respect to AIM limits are effective June 5, 2022. When there is a direct relationship between any of the parties to a real estate transaction, (including borrower, client, employer, lender, broker, appraiser, seller or builder) the transaction will be considered non-arm’s length. When a Borrower is employed by a family member or by an interested party to the transaction, the employment and income is not arms length. Revisions with respect to ADUs, automated employment assessment, and condominium and cooperative projects are effective June 1, 2022. ![]() updated lease provisions related to non-monetary default requirements to remove a reference to nonpayment of ground rent (which is considered a monetary default).modified requirements for certificates of incumbency, wire instructions and ACH instructions and.updated Area Median Income (AIM) limits. ![]() added a new “Investor Feature Identifier” lenders must use to report an attorney opinion of title letter in lieu of a title insurance policy.A non-arms length transaction exists where there is a direct. The new, user friendly Seller/Servicer Guide will make it significantly easier for you and your team to find, understand and share critical information. revised desktop appraisal eligibility requirements to exclude non-arm’s length transactions and purchases where the seller is a lender or a government entity Fannie Mae DU Refi Plus and Refi Plus and Freddie Mac Relief Refinance Programs (03/23/09). ![]()
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