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The U.S. Small Business Administration on May 1 issued revised appraisal policies for change-in-ownership transactions involving special-purpose properties. The SBA removed requirements for business valuation credentials and repositioned such scenarios as real property-centric valuation scenarios.
The U.S. Department of Labor is seeking comment by July 6 on its proposed rule to change who is considered a fiduciary of a qualified plan, IRA or health savings account. A more expansive proposal was released in 2010, but it faced significant pushback and was quickly withdrawn.
The Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Consumer Financial Protection Bureau and the Federal Housing Finance Agency issued a final rule April 30 that implements minimum requirements for state registration and supervision of appraisal management companies.
Fannie Mae and Freddie Mac likely would require a bailout of more than $157 billion if the country were to suffer another recession, according to stress test results released by the Federal Housing Finance Agency, which regulates the government-sponsored enterprises, Bloomberg reported April 30.
The loan servicing firm Ocwen Financial and the insurance company Assurant agreed to pay $140 million to settle a class-action lawsuit filed by homeowners who claimed Ocwen artificially increased forced-place insurance costs in exchange for kickbacks from Assurant, HousingWire reported April 29.
Mortgages backed by the Federal Housing Administration funded 16 percent of all new single-family home loans issued in the first quarter — the greatest proportion in two years, according to U.S. Census Bureau data, MarketWatch reported April 28.
Mixed economic and housing data drove up average fixed mortgage rates during the past week, Freddie Mac reported April 30 in its Primary Mortgage Market Survey.
Falling oil prices leave North Dakota, Oklahoma, Texas and other states with a high percentage of employment dependent on the oil sector vulnerable to dropping home prices, according to the Arch MI Risk Index released April 29 by insurer Arch Capital Group.
A comparison of pre- and post-crisis home prices in the nation’s 100 largest housing markets showed that southern cities bounced back the fastest, with Nashville, Tennessee, showing the greatest increase in home prices, according to a report released April 22 by financial technology firm SmartAsset.
Half of North America’s real estate investors intend to ramp up property acquisitions this year, with nearly one-third saying they plan to increase investment volumes by at least 20 percent, according to the North America Investor Intentions Survey released April 30 by commercial real estate firm CBRE, MBA NewsLink reported.
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