HomeBridge is updating its policy regarding field review appraisal requirements to align with Fannie Mae’s enhanced policy for field reviews on high balance transactions and to include Freddie Mac Super Conforming requirements.
Fannie Mae High Balance – Applies to loans run through DU 9.3
High balance transactions require a field review (Fannie Mae Form 2000 or Freddie Mac Form 1032) as follows:
- The LTV/CLTV/HCLTV is > 75% and the property is valued at ≥ $1,000,000.
Fannie Mae High Balance – Applies to loans run through DU 9.2
High balance transactions require a field review (Fannie Mae Form 2000 or Freddie Mac Form 1032) as follows:
- A field review will be required as follows:
- The LTV/CLTV/HCLTV is > 80% and loan amount is >$625,500, or
- The LTV/CLTV/HCLTV is > 75% and the property is valued at ≥ $1,000,000
Freddie Mac Super Conforming
Super conforming transactions require a field review (Freddie Mac 1032 or Fannie Mae Form 2000) as follows:
- The LTV/CLTV/HCLTV is > 75% and the property is valued at $1,000,000.
NOTE: HomeBridge limits Freddie Mac super conforming transactions to a maximum of $1,000,000
Field review appraisals will be accepted from any HomeBridge approved AMC. A filed review may be ordered by the broker from the same AMC as the original appraisal provided the report is not completed by the same appraiser.
If you have any questions, please contact your Account Executive
