Appraisal Institute News

May 24, 2023 08:30 AM

AI PAREA Program Receives Approval from the AQB

The Appraisal Institute announced May 18 that its Practical Applications of Real Estate Appraisal program for the licensed residential path received approval from the Appraiser Qualifications Board. Appraisal Institute President Craig Steinley, MAI, SRA, AI-GRS, AI-RRS, said the program will create many opportunities for aspiring appraisers who might not currently have a pathway into the profession.

May 24, 2023 08:30 AM

FHFA Seeks Input on Single-family Pricing Framework

The Federal Housing Finance Agency on May 15 issued a Request for Input on the single-family pricing network for Fannie Mae and Freddie Mac and on the processes necessary to set single-family upfront guarantee fees for them. Comments are due by Aug. 14.

May 24, 2023 08:30 AM

Inflation Remains High but Shows Signs of Easing, Fannie Mae Reports

Concerns about inflation are easing, with data showing current annual rates trending as expected at around 2% to 5.5%, and small businesses no longer cite inflation as their biggest worry, Fannie Mae reported May 12. However, lenders are still tightening credit standards for both residential and commercial real estate loans.

May 18, 2023 08:00 AM

Appraisal Institute PAREA Program Receives Approval from Appraiser Qualifications Board

The Appraisal Institute announced today that the Appraiser Qualifications Board has provided approval of AI’s Practical Applications of Real Estate Appraisal program for the licensed residential path.

May 17, 2023 08:30 AM

Retail Fundamentals on the Decline Due to Inflation, Banking Issues: JLL

Retail fundamentals have started to pull back as a result of continued inflation and banking troubles, JLL reported May 9. Major retailer bankruptcy announcements have increased, with nine already declared this year compared to 10 total in 2022. Net absorption totaled 9.1 million square feet for the quarter — a notable decline from the 20.1 million square feet in Q4. 

May 17, 2023 08:30 AM

FHFA Rescinds Upfront Fees for Mortgages Based on DTI Ratio

The Federal Housing Finance Agency announced May 10 that it has rescinded the upfront fees based on borrower debt-to-income ratio for loans purchased by Fannie Mae and Freddie Mac. The agency changed its original plan based on stakeholder feedback.

May 17, 2023 08:30 AM

Washington State Drops Single-family Zoning

Washington Gov. Jay Inslee on May 8 signed HB 1110, legislation that lifts zoning restrictions on duplexes and fourplexes — referred to as “middle housing” — in areas zoned for single-family properties. The law is intended to alleviate housing supply issues. The state’s Department of Commerce will provide guidance for implementing the new requirements and developing a model middle housing ordinance.

May 11, 2023 08:00 AM

Potentially Increase Your Home's Value, Appraisal Institute Says

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to focus on easy ways to potentially improve their property’s value.

May 10, 2023 08:30 AM

Appraisal Standards Board Adopts New Edition of USPAP

The Appraisal Standards Board on May 5 voted to adopt the Fifth Exposure Draft of proposed changes to the Uniform Standards of Professional Appraisal Practice. The new edition will be available this fall and take effect Jan. 1, 2024. Unlike previous editions, it will not have an end date.

May 10, 2023 08:30 AM

Agencies Outline Enforcement Efforts Against Discrimination, Bias in Automated Systems

The Equal Employment Opportunity Commission, Federal Trade Commission, Consumer Financial Protection Bureau and the Department of Justice on April 25 issued a joint statement explaining their enforcement efforts to protect against discrimination and bias — including housing and lending — in automated systems, including machine learning, statistical models and artificial intelligence systems.