NORIS News 3/30/20

You can now add 50 photos in Matrix MLS.

On March 23, 2020, Freddie Mac issued Bulletin 2020-5, Selling Guidance Related to COVID-19, which contains temporary guidance on appraisal requirements. Under the guidance, lenders will be allowed to use desktop appraisal and exterior only appraisals for purchase transactions through May 17, 2020. Freddie Mac has also provided language that the appraiser must copy and paste into their report in order to accommodate the revised scope of work, statement of assumptions and limiting conditions, and certifications for some of the scenarios presented. To accommodate this change NORIS has changed the photo limit in Matrix MLS from 36 to 50. 

https://guide.freddiemac.com/app/guide/bulletin/2020-5\

UPDATE FROM SHOWINGTIME

Due to overwhelming agent demand and a desire for the safest possible showings for all concerned, ShowingTime will be updating all current listings and the default for new listings to be “No Overlapping Showings” so that by default two showing agents won’t be scheduled to be in the same property at the same time. Agents and offices can change their defaults later when or if they deem it appropriate, but we want to make sure that the default assumption on any listings in the ShowingTime system is “no overlap” unless specifically designated by the listing agent or listing office.

As always, ShowingTime is here, available, and working hard to do all that we can to make sure you are kept informed and safe during these trying times. We are keeping the page updated daily on the impact of COVID-19 on showings here:  https://www.showingtime.com/impact-of-coronavirus/ and will continue to keep you updated as we learn things or make changes to help MLSs, brokers, and agents through this process.

Please reach out to any member of our staff with your questions or concerns. Although we are not in the NOR office, we are still available to serve you!