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The underlying collateral plays a key role in the underwriting at origination of a loan. Each company applies their own business risk model to determine the feasibility and applicability of financing each proposed mortgage. MBA has completed several projects to help lenders make informed decisions on the inherent risks associated with all different types of properties and conditions. MBA Updates
- All Appropriate Inquiry / Brownfields. (Effective November 1, 2006). In February 2007, MBA will release the Environmental Due Diligence: A Guide to Liability Risk Management in Commercial Real Estate Transactions.
- Seismic Handbook. MBA establishes a Working Group to develop a handbook on seismic risk assessment called Handbook for Seismic Due-Diligence Investigation. The Handbook is expected in Spring 2007.
- Seismic Standards. The Working Group has also focused its efforts on improving existing seismic risk analysis standards in order to create greater consistency in seismic risk analysis reports. The revised and improved ASTM E2026 and XA seismic risk assessment standards are anticipated to be approved in Spring 2007.
- ASTM Phase I. MBA Participates in ASTM review and update of the Phase I Assessment. ASTM revised the past Phase I requirements to mirror and augment the new EPA AAI requirements.
- E- Appraisals. MBA works with the Appraisal Institute to develop commercial data standards for a fully electronic appraisal form.
- Mold. Visit the MBA Mold Resource Center. MBA is in the process of updating the Mold White Paper and expects the update to be completed in Spring 2007.
- For more information, contact MBA staff, George Green at ggreen@mortgagebankers.org .
Standards and Best Practices
Related Links
Conforming Loan Limits FHA/HUD: Mortgagee Letters, FHA Mortgage Limits, Forms Veterans Administration: Circulars Fannie Mae: Guide Announcements, Lender Letters Freddie Mac: Seller/Servicer Bulletins, Guide Forms Ginnie Mae: APMs, MPMs, MBS Guide, MIP#s Non-Agency: Reg AB
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"Mortgage Action Alliance"
Empower yourself with the political skills necessary to advocate issues affecting your bottom line and the real estate finance industry. |
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