Appraisal Institute News

Sep 10, 2020 08:00 AM

Appraisal Institute Seeks to Expand Diversity, Combat Alleged Bias in Valuation

As our nation continues reflecting on important matters of racial justice, the nation’s largest professional association of real estate appraisers today reiterated its efforts to expand opportunities for aspiring appraisers and help combat alleged bias in valuation.

Sep 09, 2020 12:30 PM

AI Releases New Edition of Leading Appraiser Textbook

The Appraisal Institute on Sept. 2 announced the availability of “The Appraisal of Real Estate," 15th edition, in both hard copy and PDF formats. The comprehensive textbook includes updated content and new chapters on market analysis, highest and best use, identifying property rights and allocating value.

Sep 09, 2020 12:30 PM

California Legislation Clarifies Status of Appraisers as Independent Contractors

California Gov. Gavin Newsom on Sept. 4 signed AB 2257, legislation that clarifies how the state’s employment laws apply to services provided by state-licensed and state-certified real estate appraisers, allowing them to work as independent contractors.

Sep 09, 2020 12:30 PM

AI Project Team to Review VP Election Process, Seeks Input

The Appraisal Institute announced Sept. 10 that President Jefferson L. Sherman, MAI, AI-GRS, has appointed a project team to examine the organization’s vice presidential election process. The project team is chaired by Richard L. Borges II, MAI, SRA, AI-GRS, AI-RRS; and comprised of Ken P. Wilson, MAI, SRA; James L. Murrett, MAI, SRA; Heather M. Placer, MAI, SRA; and Lindel D. Schulze, MAI, AI-GRS.

Sep 02, 2020 12:30 PM

GSEs Maintain Appraisal Flexibilities, Forbearance Purchases

The Federal Housing Finance Agency announced Aug. 26 that government-sponsored enterprises Fannie Mae and Freddie Mac will extend its purchases of qualified loans in forbearance and loan origination flexibilities until Sept. 30. The extended flexibilities include alternative appraisals on purchase and rate-term refinance loans.

Sep 02, 2020 12:30 PM

All US Homes Have Flood Risk Scores; Results Are Alarming

The nonprofit research and technology group First Street Foundation launched an interactive website that offers flood risk data for more than 142 million U.S. properties, and Realtor.com will includes the scores in its listing information, CNBC reported Aug. 26. The forward-looking First Street data shows that 70% more homes are prone to flood risk that what’s reported by FEMA.

Sep 02, 2020 12:30 PM

Nearly 80% of Surveyed Economists Say a Double-dip Recession is Possible

Close to 80% of economists surveyed by the National Association for Business Economics said there’s at least a one-in-four chance of a double-dip recession, according to survey results released Aug. 24, HousingWire reported. Further, nearly 40% of respondents said that the fiscal response from Congress to the COVID-19 pandemic is insufficient.

Aug 26, 2020 12:30 PM

AI Seeks to Work with TAF on Alleged Bias in Valuation

The Appraisal Institute on Aug. 20 sent a letter to The Appraisal Foundation offering its support to reinforce existing requirements to help combat potential bias in the appraisal process, specifically citing a need to make the AQB criteria and USPAP more illustrative on such matters.

Aug 26, 2020 12:30 PM

FHA Unveils Tech Module for Single-family Appraisals

The Federal Housing Administration on Aug. 18 announced the release of its FHA Catalyst: Electronic Appraisal Delivery module, which will allow lenders to electronically submit, track and manage single-family property appraisals. FHA-approved lenders may begin using the module Sept. 4, at which time lenders can submit appraisal reports and updates for FHA Single-Family Title II forward mortgages.

Aug 26, 2020 12:30 PM

Economy Down in Q2, but Q3 Looks Better, and Housing Forecast Upgraded: Fannie Mae

The U.S. economy dropped 32.9% during the second quarter, its largest decline since the aftermath of World War II, but the third quarter should experience a significant rebound, according to commentary released Aug. 17 by Fannie Mae’s Economic and Strategic Research Group. Their expectations for home sales were revised upwards based on overall strength of the sector.

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AI News

Appraisal Institute Seeks to Expand Diversity, Combat Alleged Bias in Valuation

AI Releases New Edition of Leading Appraiser Textbook

California Legislation Clarifies Status of Appraisers as Independent Contractors

AI Project Team to Review VP Election Process, Seeks Input

GSEs Maintain Appraisal Flexibilities, Forbearance Purchases

All US Homes Have Flood Risk Scores; Results Are Alarming

Nearly 80% of Surveyed Economists Say a Double-dip Recession is Possible

AI Seeks to Work with TAF on Alleged Bias in Valuation

FHA Unveils Tech Module for Single-family Appraisals

Economy Down in Q2, but Q3 Looks Better, and Housing Forecast Upgraded: Fannie Mae