Appraisal Institute News

Mar 24, 2021 12:30 PM

Fed Says Financial Conditions Remain "Accommodative," No Rate Hikes Expected

The Federal Open Market Committee said that the country’s overall financial conditions remain “accommodative” and noted that they do not expect any increase in the federal funds rate until 2023, MBA NewsLink reported March 17. The FOMC is still concerned about the effects of the coronavirus pandemic on the economy, but acknowledged that activity is improving.

Mar 17, 2021 12:30 PM

FHFA Further Extends Alternative Appraisals Due to COVID-19

The Federal Housing Finance Agency announced March 11 that Fannie Mae and Freddie Mac will extend until April 30 flexibilities for alternative appraisals on purchase and rate term refinance loans. Other flexibilities that are being extended include alternative methods for income and employment verification, and expanded use of power of attorney.

Mar 17, 2021 12:30 PM

MISMO Seeks Comments on Commercial Appraisal Dataset

The Mortgage Industry Standards Maintenance Organization announced March 11 that it will accept comments until March 26 on proposed enhancements to the Commercial Appraisal Dataset. The new dataset aims to make exchange of commercial appraisal information more efficient, and will include new building level data points and additions for non-multifamily properties.

Mar 17, 2021 12:30 PM

Office Values Could Drop Significantly if Employees Continue to Work From Home: Fitch

If employees don’t go back to the office once the pandemic ends, there could be a permanent decline in the demand for space and a significant drop in commercial property values, according to the results of stress tests on how telecommuting might affect space demand, rent and net cash flow that data firm Fitch Ratings conducted and reported on March 10.

Mar 10, 2021 12:30 PM

Mall Values Drop 60% After Reappraisals, Data Shows

Mall values in the U.S. dropped an average of 60% last year after appraisals of 118 retail-anchored properties revealed nearly $4 billion in lost value, Bloomberg reported March 1. The properties all have commercial mortgage-backed securities debt, and the reappraisals were triggered by payment delinquencies, defaults or foreclosures.

Mar 10, 2021 12:30 PM

All Appraisers Must Take Fair Housing and Bias Course: TAF

The Appraisal Foundation will mandate that all appraisers take a 7-hour course addressing fair housing laws and bias, HousingWire reported March 3. The course will be released later this year and will focus on how the Uniform Standards of Professional Appraisal Practice addresses these issues and it will include test exercises and case studies.

Mar 10, 2021 12:30 PM

CRE Sector Sees Price Growth, but Fewer Deals in January: Real Capital Analytics

The prices for commercial properties in the U.S. grew again in January, reaching a level of growth that hasn’t been seen since before the coronavirus pandemic, according to data firm Real Capital Analytics, MBA NewsLink reported March 1. However, as prices grew, deal volume shrank, but the number of destressed sales remains low.

Feb 17, 2021 12:30 PM

FHFA Extends Appraisal Flexibilities Due to COVID-19

The Federal Housing Finance Agency announced Feb. 10 that Fannie Mae and Freddie Mac will extend until March 31 several loan origination flexibilities, including alternative appraisals on purchase and rate term refinance loans. The flexibilities were set to expire Feb. 28, but were extended due to the ongoing coronavirus pandemic.

Feb 17, 2021 12:30 PM

Foreclosure, Eviction Moratorium and Forbearance Extended

Fannie Mae and Freddie Mac are extending their moratoriums on single-family foreclosures and real estate-owned evictions until March 31, the Federal Housing Finance Agency announced Feb. 9. FHFA also noted that borrowers with a mortgage backed by the government-sponsored enterprises may be eligible for an additional three months of forbearance.

Feb 17, 2021 12:30 PM

Student Housing Sector Strengthens as Deals Increase During Q4 2020, Data Shows

Investor interest in off-campus student housing increased during the fourth quarter of 2020, with investors spending $3.9 billion to purchase both large portfolios of buildings and individual properties in strong markets, according to real estate research firm Real Capital Analytics, Wealth Management Real Estate reported Feb. 10. The end-of-year deals brought the student housing sector within range of a normal year of business.

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AI News

Fed Says Financial Conditions Remain "Accommodative," No Rate Hikes Expected

FHFA Further Extends Alternative Appraisals Due to COVID-19

MISMO Seeks Comments on Commercial Appraisal Dataset

Office Values Could Drop Significantly if Employees Continue to Work From Home: Fitch

Mall Values Drop 60% After Reappraisals, Data Shows

All Appraisers Must Take Fair Housing and Bias Course: TAF

CRE Sector Sees Price Growth, but Fewer Deals in January: Real Capital Analytics

FHFA Extends Appraisal Flexibilities Due to COVID-19

Foreclosure, Eviction Moratorium and Forbearance Extended

Student Housing Sector Strengthens as Deals Increase During Q4 2020, Data Shows