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Sep 09, 2015 04:13 PM

HUD Proposes Rule Changes for FHA Loans

The U.S. Department of Housing and Urban Development on Sept. 1 unveiled proposed changes to its rules for lenders that remit loans to the Federal Housing Administration, HousingWire reported. The new proposal revises rules first proposed in July that reportedly irked key members of the Senate Banking and House Financial Services committees.

Sep 09, 2015 12:30 PM

Fitch: Mortgage Origination, Appraisal Changes Combat Fraud

Ratings agency Fitch Ratings said that post-recession modifications made to residential mortgage origination practices, including reduced communication between originators and appraisers during the loan production process, have helped to lower the risk of fraud and misrepresentation, MBA NewsLink reported Sept. 2.

Sep 02, 2015 12:30 PM

Austin Sues Texas over Unfair Appraisal System

A lawsuit filed Aug. 24 against the state of Texas by the city of Austin alleges the state’s property appraisal system unfairly enforces an imbalance in the tax burdens between residential and commercial property owners, and that the appraised values of commercial property don’t match market prices, the Texas Tribune reported.

Sep 02, 2015 12:30 PM

BofA Settles Appraiser Overtime Lawsuit

Bank of America’s appraisal subsidiary, LandSafe Appraisal Services, agreed to pay $36 million to settle a lawsuit alleging the misclassification of 365 current and former appraisers as exempt from overtime when they actually were eligible, the San Francisco Chronicle reported Aug. 27. The employees will each receive $60,000 to $65,000.

Sep 02, 2015 12:30 PM

Fannie: Economic Growth Slows in Second Quarter

Economic growth was slower than expected in the second quarter, as a strong dollar, reduced oil prices and a drop in nonresidential investment stymied growth, Fannie Mae's Economic & Strategic Research Group reported Aug. 24. The group sees some improvement in the housing sector, with lean inventories and home sales trending up.

Aug 26, 2015 04:16 PM

Report: Too Late for FHFA to Offer Principal Reduction

The Federal Housing Finance Agency is reconsidering its ban on principal reductions for Fannie Mae and Freddie Mac loans, but the move now would have little impact because the housing market has recovered enough to eliminate most negative equity, according to an Aug. 18 report from think tank Urban Institute.​

Aug 26, 2015 04:16 PM

FHFA Sets Low-income Housing Goals for Fannie, Freddie

The Federal Housing Finance Agency on Aug. 19 set new two-year goals for Fannie Mae and Freddie Mac to increase the number of mortgages issued to low-income consumers and to landlords who rent to those individuals, The New York Times reported.

Aug 19, 2015 12:30 PM

Mandatory Registration Begins for FHA Appraisal Portal

The mandatory registration period for the Federal Housing Administration's Electronic Appraisal Delivery portal began Aug. 17, and all FHA-approved mortgagees must register for and participate in a 60-day onboarding phase to familiarize themselves with the portal, HousingWire reported. Onboarding begins Oct. 15 and all users must be registered by June 26, 2016.

Aug 19, 2015 12:30 PM

Gap Widens between Homeowner, Appraiser Opinions

The gap between homeowner and appraiser opinions of home values has nearly doubled since May, mortgage lender Quicken Loans reported Aug. 11 in its Home Price Perception Index. The discrepancy was attributed to homeowners seeing national headlines about increased home values.

Aug 19, 2015 12:30 PM

Bank of America Sells Appraisal Business

Bank of America announced Aug. 8 that it's selling its real estate appraisal business to analytics firm CoreLogic for an undisclosed sum, the Charlotte Observer reported. The bank acquired the business in 2008 through its acuisition of mortgage company Countrywide Financial Corp.

Results: 465 Articles found.

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