Appraisal Institute News | Appraisal Institute

Oct 10, 2018 12:30 PM

FHA Reports Appraisal Issues on 37 Percent of Reverse Mortgage Loans

The Federal Housing Administration announced Oct. 1 that its investigation into potential appraisal inflations on reverse mortgage loans found that 37 percent were off by at least 3 percent, HousingWire reported. From Oct. 1, 2018, to Sept. 30, 2019, FHA will require a second appraisal on loans the agency deems to possibly have elevated valuations.

Oct 10, 2018 12:30 PM

Multifamily Investors Expect Demand to Drop due to Construction Supply

Multifamily investor demand is currently high, but investors could see a change because rent growth went flat in August for the first time in six years due to large amounts of supply under construction, HousingWire reported Oct. 3.

Oct 10, 2018 12:30 PM

Mall, Lifestyle Center Sectors Unfavorable, CoStar Report Finds

Second quarter space absorption for mall and lifestyle centers is negative with an annual supply growth of 0.6 percent and demand at 0.2 percent, according to analytics firm CoStar, National Real Estate Investor reported Oct. 3.

Oct 04, 2018 08:00 AM

‘Green’ Home Improvements Can Pay Off: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged home sellers to consider making energy-efficient improvements to their properties and urged potential buyers to seek homes with those features.

Oct 03, 2018 12:30 PM

FHA to Require Second Appraisal for Some Reverse Mortgage Applications

The Federal Housing Administration on Sept. 28 said it will require lenders that originate new Home Equity Conversion Mortgages, known as reverse mortgages, to provide a second property appraisal under certain circumstances. The requirement takes effect Oct. 1 and ends Sept. 30, 2019, unless extended.

Oct 03, 2018 12:30 PM

California Law Eases Intended User Restrictions for Some Appraisals

California Gov. Jerry Brown on Sept. 29 signed SB 70, legislation that allows the state’s appraisers to name intended users other than a client in a restricted appraisal report.

Oct 03, 2018 12:29 PM

Legislators Demand Fed Maintain Capital Requirements for Big Banks

Nineteen congressional members submitted a letter Sept. 20 to Federal Reserve Chair Jerome Powell demanding that the Fed maintain strict capital requirements for large banks, HousingWire reported. The letter is in response to a Fed official who expressed interest in weakening rules due to “unwarranted capital burdens.”

Sep 25, 2018 08:00 AM

Appraisal Institute Opposes Bills Raising Thresholds for SBA Loans

Citing significant risks to taxpayers, the Appraisal Institute on Monday urged the U.S. House of Representatives to turn back legislation that would virtually eliminate appraisal requirements for the Small Business Administration’s two largest loan programs. Votes on two related bills are expected today in the full House.

Sep 19, 2018 12:30 PM

Mortgage Fraud Rose Sharply During the Second Quarter: CoreLogic

The risk for mortgage fraud jumped 12.4 percent year-over-year in the second quarter, according to the Mortgage Application Fraud Index released Sept. 13 by analytics firm CoreLogic, HousingWire reported. The index includes data for such fraud indicators as identity, income, occupancy, property, transaction and undisclosed real estate debt.

Sep 19, 2018 12:30 PM

Beige Books Shows Housing Activity Slowing, Commercial Activity Growing

Home sales through the end of August slowed in some Fed districts due to lower demand and reduced inventories, but commercial sales and leasing showed modest increases, as did lending activity, the Federal Reserve reported Sept. 12 in its latest Beige Book.