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[CORRECTION: This article updates an earlier version that included factual errors.]
The Federal Deposit Insurance Corporation approved for publication in the Federal Register on April 21 Minimum Requirements for Appraisal Management Companies, which outline minimum requirements for state registration and supervision of appraisal management companies.
Home prices were down in March, and as a result, the disparity between homeowners and appraisers on home value perception increased as homeowners’ estimates remained higher than appraiser opinions, according to the Home Price Perception Index released April 14 by Mortgage Lender Quicken Loans.
A total of 401 members of Congress — both Democrats and Republicans — voted April 14 in favor of HR 1265, the Bureau Advisory Commission Transparency Act, which calls for more transparency and accountability from the Consumer Financial Protection Bureau by subjecting it to the Federal Advisory Committee Act, HousingWire reported.
The Federal Housing Finance Agency plans to reduce the mortgage fees paid by some borrowers, but any adjustments would be minor and would not provide much help for risky borrowers with past credit issues, The New York Times reported April 15.
Forty-one percent of mortgage lenders said they are not prepared to meet the August deadline to comply with the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule, according to a Mortgage Bankers Association survey, HousingWire reported April 15.
The Federal Reserve Beige Book released April 15 showed continued improvement at a modest-to-moderate pace in most markets. Residential real estate activity remained steady to improving in most districts, despite a harsh winter, while commercial real estate activity expanded in many districts.
The European Group of Valuers’ Associations introduced on April 18 the TEGoVA Residential Valuer, known as TRV, which is a new qualification for residential valuation professionals who have reached a high level of achievement and is designed to serve as an incentive to improve residential valuation practice.
Denver’s growing economy, expanding population and low unemployment rate put the city on top of the Spring 2015 Top Single-Family Housing Market report released April 9 by online marketplace Auction.com. Other top markets include San Antonio; Nashville, Tennessee; Fort Lauderdale, Florida; and Dallas.
Despite a 20 percent jump in foreclosure filings in March, overall foreclosure activity fell during the first quarter of 2015, with a 7 percent drop from the previous quarter and an 8 percent year-to-year drop, according to the U.S. Foreclosure Market Report released April 16 by data firm RealtyTrac.
Averaged fixed mortgage rates showed little change over the past week, staying near yearly lows, Freddie Mac reported in its April 16 Primary Mortgage Market survey.
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