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Daily Archives: January 26, 2015

Upcoming E-Waste and Document Shredding Event in Pasadena

Posted in Events, News

Upcoming E-Waste-Document Shredding Event E-waste/Document Shredding event is scheduled for May 30, 2015 from 9 a.m. to 3 p.m. – Rose Bowl Stadium – Parking Lot I E-waste items include computers, keyboards, printers, monitors, laptops, docking stations, scanners, shredders, fax machines, computer mice, telephones, televisions, flat screens, VCRs, DVD players, PDAs, cassette players, tape drives, stereos and household batteries. Many of these products have parts that can be recycled.  The public can bring a maximum of five legal-size boxes of documents for shredding. For more information please visit the City of Pasadena’s website by clicking here.

 

Fannie Mae to offer lenders access to proprietary home valuation database

Posted in News

From the L.A. Times.com — Starting Jan. 26, Fannie Mae plans to offer mortgage lenders access to proprietary home valuation databases that they can use to assess the accuracy of and risks posed by the reports submitted by appraisers. The Fannie data will flag possible errors in the appraiser’s work before the lender commits to fund the loan, score the appraisal for overall risk of inaccuracy and may provide as many as 20 alternative “comps” — properties in the area that have sold recently and are roughly comparable to the house the lender is considering approving for financing but were not used by the appraiser.

Lenders can then forward Fannie’s alternative comps and risk scores to the appraiser or the management company that hired the appraiser requesting explanations and changes to the appraisal.

Could [this] controversial new program set for launch nationwide this month by giant mortgage investor Fannie Mae lead to slower and costlier home sale closings and more disputes over prices between sellers and buyers — busting deals when the appraised value comes in below what the parties agreed to in the contract?

For the full story please click here.