Tip of the Week for 1/26

Tip of the Week – Renewed Urgency for Data Accuracy

Starting today (Jan. 26), Fannie Mae is making its new Collateral Underwriter program available to lenders. This automated model flags potential errors in an appraisal and scores it for the overall risk of inaccuracy. Depending on the results, lenders may slow down the loan approval process or deny the loan altogether. This has significant potential consequences for all parties involved in the home buying process, especially your clients.

So What Can You Do? More than ever, the accuracy of the listing data you input into NorthstarMLS affects the success of the appraisal and loan processes. You’ll be helping yourself, your seller/buyer, appraisers and everyone else using the NorthstarMLS system by ensuring each listing is as accurate, complete and up-to-date as possible. Ensuring the most accurate and clean data for our customers is challenging and an ongoing process. If everyone using the MLS takes the responsibility to ensure their listings are as accurate as possible, everyone benefits. Remember: We’re all in this together!

Take a Look at Data Accuracy Content We’ve Provided in the Past Few Years
Print Friendly, PDF & Email
Tagged with: , , ,