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Results: 155 Articles found.
Jan 13, 2022 08:30 AM

Single-tenant Net Lease Cap Rates Up: The Boulder Group

Cap rates in the single-tenant net lease sector increased slightly during the fourth quarter to 5.88% for retail and 6.77% for industrial, while net lease office remained unchanged at 6.80%, according to the Q4 2021 Net Lease Market Report released Jan. 6 by The Boulder Group. A limited supply of properties primarily drove the increase.

Jan 13, 2022 08:30 AM

State Attorneys General Target FHA Loan Violations

Attorneys general from 20 states have accused mortgage servicers employed by Federal Housing Administration-approved lenders of failing to properly implement loan modification options, including options to reduce principal and interest, that the agency introduced in July, according to a Dec. 21 letter sent to the Department of Housing and Urban Development, HousingWire reported Jan. 5.

Jan 13, 2022 08:30 AM

Nation’s Large Office Markets Stable and Active, Boston Tops for Leasing: CBRE

The nation’s 12 largest office markets showed stability toward the end of 2021, with normal levels of leasing activity despite uncertainty about COVID-19, according to CBRE’s Pulse of U.S. Office Demand survey, MBA NewsLink reported Jan. 4. The most active markets were Boston; Dallas-Fort Worth; Los Angeles; Manhattan; and Washington, D.C.

Dec 22, 2021 08:30 AM

Residential Sector Sets 10 Records in 2021, Redfin Reports

Housing was hot in 2021, breaking 10 records, including highest median sale price, lowest inventory of for-sale properties and strongest demand for second homes, Redfin reported Dec. 13. The pandemic changed the residential sector, creating a seismic shift in how people live and work and why and where they purchased homes.

Dec 22, 2021 08:30 AM

Residential Appraisals Shouldn’t Reference Neighborhood Demographics: FHFA

The Federal Housing Finance Agency on Dec. 14 reported that its analysis of millions of property valuations found many residential appraisal reports that contained improper references to a neighborhood’s racial demographics. Examples include the percentages of an area's racial and ethnic makeup; the languages spoken in an area; and amenities specifically geared to a race, ethnic, or religious group.​

Dec 22, 2021 08:29 AM

Lenders Expect ‘Normal’ Housing Market in 2022: Fannie Mae

Sixty-five percent of mortgage lenders said they expect profit margins will drop during the next quarter, up from 46% who said so last quarter, Fannie Mae reported Dec. 15 in its Q4 2021 Mortgage Lender Sentiment Survey. The shifting expectations suggest that the housing market may return to a more 'normal' state after a couple of boom years.

Dec 15, 2021 12:30 PM

White House Mulls Restrictions on All-cash Property Sales

The U.S. Department of the Treasury will start to develop regulations that could expand reporting requirements for all-cash real estate purchases, Bloomberg reported Dec. 6. The effort aims to reduce global corruption, and could mandate that title insurance companies turn over information about cash purchases made through shell companies.

Dec 15, 2021 12:30 PM

Drop in Office Space Demand No Cause for Concern: Report

New demand for office space fell in October, the second consecutive monthly drop, according to the VTS Office Demand Index, MBA NewsLink reported Dec.7. However, the report noted that the decline isn’t indicative of labor market softness, and office demand remains nearly 70% above its level from one year ago.

Dec 15, 2021 12:30 PM

Commercial Property Price Growth Rises at Extraordinary Rate: Real Capital Analytics

Commercial real estate prices grew at their fastest annual rate in years this fall amid intense investor demand, according to Real Capital Analytics, MBA NewsLink reported Dec. 7. Investors acquired nearly $525 billion in CRE assets through October, a 70% increase from the year prior.

Dec 08, 2021 12:30 PM

Agencies Raise Appraisal Exemption Threshold

The Consumer Financial Protection Bureau, the Federal Reserve Board and the Office of the Comptroller of the Currency announced Dec. 1 that the 2022 threshold for exempting mortgage loans from special appraisal requirements will be $28,500, up from $27,300 this year. The increase takes effect Jan. 1.​

Dec 08, 2021 12:30 PM

Value of Farm Properties Up Sharply in Q3: Report

The value of non-irrigated cropland jumped by at least 12% during the third quarter, and the increase was consistent across most states, according to the Federal Reserve Survey of Agricultural Credit Conditions released Nov. 23. Interest rates on farm loans remain historically low and agricultural credit conditions saw further improvement.

Dec 08, 2021 12:30 PM

Cap Rates for Medical Sector Squeezed, Overall Net Lease Down: The Boulder Group

Cap rates for the single-tenant, net lease medical sector compressed 55 basis points during the third quarter to 5.95% when compared to the same point a year ago, The Boulder Group reported Dec. 2 in its Q3 Net Lease Medical Report. The overall net lease market, comprised of retail, office and industrial, was down 23 basis points year-to-year.

Dec 01, 2021 08:30 AM

VA Increasing Appraisal Fees, Turnaround Times

The Department of Veterans Affairs announced Nov. 19 that it will raise appraisal fees and extend turnaround times in certain markets in response to “unprecedented demand,” HousingWire reported. The fee increases, which take effect Dec. 1, will vary by state and county; for example, $25 in Minnesota and $400 in select parts of California.

Dec 01, 2021 08:30 AM

FHFA Conforming Loan Limits for 2022 Approach $1M

The Federal Housing Finance Agency on Nov. 30 announced that the conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2022 will be $647,200 for single-family homes and increase to $970,800 for homes in higher-cost areas. Loan limits are adjusted annually to reflect changes in the average U.S. home price.

Dec 01, 2021 08:30 AM

Strong Demand and Plummeting Vacancy Cause Multifamily Rents to Spike: Report

The multifamily sector was strong during the third quarter, with growing demand and low vacancy rates pushing rents 13.9% higher than at the same point a year ago, according to a report from Walker & Dunlop, Benzinga reported Nov. 24. New completions are 20% below the average pace of the past four years, and new construction costs are up 11%.

Nov 17, 2021 08:30 AM

AI Board of Directors Approves Strategic Priorities for 2022

The Appraisal Institute Board of Directors at its Nov. 11-12 meeting in Chicago approved the Strategic Plan strategies that will guide the organization’s efforts in 2022, and beyond.

Nov 17, 2021 08:30 AM

Many Homeowners Plan to Sell Soon, Skip Appraisals: Report

Nearly two thirds of prospective home sellers say they plan to enter the market within the next six months, signaling hope for would-be buyers who have struggled with limited inventory, reported Nov. 11. Most sellers anticipate competitive bidding wars for their homes, including offers above-asking and foregoing contingencies such as appraisals and inspections.

Nov 17, 2021 08:30 AM

Appraisal Institute Receives $500,000 Pathway to Success Grant from TAF

The Appraisal Foundation’s Board of Trustees announced Nov. 16 that it awarded the Pathway to Success Grant to the Appraisal Institute for the development of a Practical Applications of Real Estate Appraisal program. The competitive grant application was reviewed, scored and recommended for approval by a team representing Foundation trustees, sponsoring organizations and the Appraiser Qualifications Board.

Nov 10, 2021 08:30 PM

Housing Market at Peak, Correction May be Coming: Analyst

Wall Street analyst, Ivy Zelman, who correctly predicted the 2007 housing crash, views the historic increase in home values during the pandemic as a potential precursor to a correction, not necessarily a crash, reported Nov. 3. Her biggest concern: the investors who drove up prices beyond the reach of many buyers may now start unloading their holdings, overloading the market with supply.

Nov 10, 2021 08:30 AM

High Inflation ‘Transitory,’ Jobs Recovery Expected, MBS Purchases Slowed: Fed

The Federal Reserve believes the current high rate of inflation — about twice the 2% target — is “transitory” and that price pressures will ease and help with jobs recovery, Reuters reported Nov. 3. The Fed also announced a reduction in its monthly purchases of Treasuries and mortgage-backed securities at a pace of $15 billion per month, with a plan to end purchases in mid-2022.

Nov 10, 2021 08:30 AM

Small-cap Commercial Real Estate Booms, Data Shows

The nation’s economic rebound has vastly improved conditions for small businesses, boosting small-cap commercial leasing and investment markets, according to the Boxwood Means Q3 Small-Cap Commercial Real Estate Trends report, MBA NewsLink reported Nov. 3. The demand for space is surging, with net absorption across the industrial, office and retail sectors positive for four consecutive quarters.

Oct 20, 2021 12:30 PM

Report: 20% of Commercial Properties, 25% of Critical Infrastructure Face Flood Risk

About 20% of U.S. commercial properties and 14% of residential properties are at risk of flooding, according to the 3rd National Risk Assessment: Infrastructure on the Brink report published Oct. 11 by nonprofit First Street Foundation. Additionally, 25% of critical infrastructure and 23% of roads are vulnerable. States with the greatest risk are Louisiana, Florida, Kentucky and West Virginia. ​

Oct 20, 2021 12:30 PM

Foreclosures Spike During Q3 as Moratorium is Lifted: Data

Foreclosure activity significantly increased in September as the moratorium was lifted, with 19,609 filings reported for the month, up 24% from August and up 102% from September 2020, ATTOM reported Oct. 14 in its latest Foreclosure Market Report. Lender foreclosures also increased, up 32% quarter-to-quarter. Florida, Illinois and Delaware reported the highest foreclosure rates.

Oct 20, 2021 12:30 PM

Desktop Appraisals Are Here to Stay, FHFA Announces

The option to perform desktop appraisals will become permanent, the Federal Housing Finance Agency announced Oct. 19. Starting early next year, appraisals for purchase loans can be remotely conducted using public records, such as listings and tax appraisals. Desktop appraisals were intended as a temporary response to the coronavirus pandemic, allowing appraisers to safely perform their job amid lockdowns and social distancing.

Oct 13, 2021 12:30 PM

Wyoming, Idaho at Major Risk of Wildfire: CoreLogic Report

Wyoming and Idaho top the list of states with the greatest risk of economic damage due to wildfire, CoreLogic revealed in its latest Wildfire Report released Sept. 29. Rounding out the top five are New Mexico, Utah and Nevada. The report looked at property-related risk and the availability of reconstruction resources, among other factors.

Oct 13, 2021 12:30 PM

Indoor, Outdoor Mall Visits Down in September as Retail Recovery Slows: Index

Indoor and outdoor malls both saw visits drop this fall, a reversal of the steady recovery these properties have experienced this year, according to the Mall Index released Oct. 6. Visits to indoor malls were down 6.5% in September compared with September 2019, while visits to outdoor malls dropped 5.2%. Increasing coronavirus cases and differing return-to-school actions contributed to the decline.

Oct 13, 2021 12:30 PM

Single-tenant Net Lease Cap Rates at Record Lows: Data

Cap rates in the single-tenant net lease sector reached a historic low in all three asset classes during the third quarter, The Boulder Group reported Oct. 1 in its Q3 2021 Net Lease Market Report. Cap rates for retail, office and industrial properties dropped to 5.8%, 6.8% and 6.7%, respectively. ​

Oct 06, 2021 12:30 PM

New California Appraiser Requirements Focus on Bias

California Gov. Gavin Newsom on Sept. 28 signed into law AB 948, legislation that contains multiple provisions related to appraisal bias. Beginning July 1, 2022, all residential sales contracts must include a statement promising that appraisals are unbiased and not influenced by improper or illegal considerations. Refinance transactions must include the same statement in loan documents provided to borrowers.

Oct 06, 2021 12:30 PM

Fannie Mae, Freddie Mac Extend Multifamily Forbearance

The Federal Housing Finance Agency announced Sept. 24 that Fannie Mae and Freddie Mac will extend coronavirus forbearance to owners of qualifying multifamily properties. The previous extension was set to expire Sept. 30 and is subject to existing tenant protections.

Oct 06, 2021 12:30 PM

Consumer Confidence Index Down in September Marking 3rd Consecutive Monthly Drop

The Consumer Confidence Index published Sept. 28 by the Conference Board showed a decline in September, following drops in both July and August. The decline was attributed to the spread of the coronavirus Delta variant, which has dampened optimism and caused concerns about the economy and short-term growth prospects.

Sep 29, 2021 12:30 PM

Federal Reserve Expected to Pull Back on Major Stimulus

If the economic recovery continues to progress, the Federal Reserve is likely to reduce its pace of asset purchases, which include $120 billion in Treasury and mortgage-backed securities each month, according to the Fed’s banking policy updated released Sept. 22, CNN reported. The Fed also could increase interest rates early next year instead of waiting until 2023.

Sep 29, 2021 12:30 PM

FHFA: More Than 200,000 Foreclosures Prevented During Q2

The Federal Housing Finance Agency announced Sept. 23 that Fannie Mae and Freddie Mac completed 217,000 foreclosure prevention actions during the second quarter, bringing the number of consumers who have been assisted during conservatorship to 6.03 million. The report also noted that 47% of loan modifications lowered borrower monthly payments by more than 20%.

Sep 29, 2021 12:30 PM

Nearly Half of US Companies Likely to Downsize Office Footprint, Survey Reveals

Around 44% of U.S. companies said they plan to downsize their office footprint when the pandemic ends, according to a Gensler survey, Bisnow reported Sept. 17. However, companies that were categorized as “high-performing” were nearly as likely to downsize their footprint as they were to expand it. Only 17% of high-performers said they would maintain the same amount of space.

Sep 22, 2021 12:30 PM

HUD Disproportionately Sells Homes in Flood Zones: NPR

Homes sold by the U.S. Department of Housing and Urban Development between January 2017 and August 2020 were 75 times more likely to be located in flood zones than other homes sold during the same period, NPR reported Sept. 13. Buyers of HUD homes received less information about flood risks and the cost of flood insurance than those who bought from private sellers.

Sep 22, 2021 12:30 PM

Freddie Mac Report Reveals Appraisal Valuation Gap

Freddie Mac on Sept. 20 released a report based on data from the Uniform Collateral Data Portal that showed appraisal values are more likely to fall below the contracted sale price of a home in areas with a higher share of minority households. Appraisal Institute President Rodman Schley, MAI, SRA, said that he supports study on this important issue in order to promote equity in homeownership for everyone. ​

Sep 22, 2021 12:30 PM

Fannie Mae and Freddie Mac Capital Requirements Set to Become Less Restrictive

The Federal Housing Finance Agency announced Sept. 15 proposed amendments to rules governing credit risk transfer securities, which involve transferring the risk of mortgage defaults to private investors, Bloomberg reported. Under the proposal, Fannie and Freddie would receive additional capital relief when issuing securities that would allow them to better support the housing market.

Sep 15, 2021 12:31 PM

FHFA Announces Equitable Housing Plans for Fannie, Freddie

The Federal Housing Finance Agency announced Sept. 7 that Fannie Mae and Freddie Mac will submit Equitable Housing Finance Plans to the agency by the end of the year. The plans will identify and address barriers to sustainable housing and outline ways to increase equity in housing finance. The public can provide input by Oct. 25.

Sep 15, 2021 12:30 PM

OCC Seeks to Rescind 2020 Community Reinvestment Act Rule

The Office of the Comptroller of the Currency announced Sept. 8 that it’s seeking comments on proposed rules to rescind the Community Reinvestment Act rule issued in 2020 and replace it with rules jointly adopted by the federal banking agencies in 1995, as amended. The rules primarily focus on lending for the nation’s underserved communities. Public comments are due by Oct. 29.

Sep 15, 2021 12:30 PM

Life Insurers Have Ability to Manage Commercial Mortgage Defaults: Fitch Ratings

U.S. life insurance companies with considerable commercial mortgage portfolios should be able to absorb significant stress and prevent ratings from dropping given the industry’s strong capitalization, current loan quality and historical loss experience, according to Fitch Ratings, MBA NewsLink reported Sept. 8. Commercial mortgage loans comprise about 13% of insurers’ total invested assets.

Sep 08, 2021 12:30 PM

Biden Seeks Immediate Increase in the Affordable Housing

The Biden administration announced Sept. 1 efforts to add an additional 100,000 homes to the affordable housing supply, with a focus on the lower and middle segments of the market. Part of the plan involves making more single-family properties available to individuals and nonprofits instead of residential investors.

Sep 08, 2021 12:30 PM

Cap Rates in Quick-service Sector at Historic Low: Report

Cap rates in the net lease quick-service sector reached a historic low of 5.26% during the second quarter, down 39 basis points from last year, according to the Q2 2021 Net Lease QSR Market Report released Sept. 1 by The Boulder Group. Cap rates for corporate-leased QSR properties dropped 20 basis points to 5%, while properties leased to franchisees dropped 43 basis points to 5.4%.

Sep 08, 2021 12:30 PM

FHFA Extends Length of Time Investors are Prevented from Purchasing Foreclosed Homes

The Federal Housing Finance Agency on Sept. 1 extended to 30 days the time that investors are locked out of purchasing foreclosed properties. Investors previously were locked out for 20 days, but the extension should give potential owner-occupants, public entities and nonprofits a greater chance at buying a property and aiding neighborhood preservation.

Sep 01, 2021 12:30 PM

3D-printed Homes Appeal to Two-thirds of Consumers: Report

Sixty-six percent of all consumers, and 75% of millennials, said they would consider living in a 3D-printed home, according to a survey released Aug. 20 by Results also revealed that 30% of all consumers and 43% of millennials think 3D properties will eventually replace traditional ones.​


People Moving to Areas with High Disaster Risk: Redfin

More residents are moving into the nation’s most disaster-prone areas, boosting population in counties with the greatest risk of high heat, drought, fire, flood and storm damage, Redfin reported Aug. 25. These disaster-prone areas are generally more affordable and offer lower property taxes, making them more desirable despite the risks.

Sep 01, 2021 12:30 PM

Manufacturing Hits Pre-pandemic Levels, Housing and Retail Slip: Fed Minutes Show

Industrial production, a gauge of the manufacturing sector’s performance, increased 0.9% in July, the largest jump since March, according to the Federal Open Market Committee meeting minutes, Fannie Mae reported Aug. 20. Meanwhile, housing starts dipped 7% and retail fell 1.1%. The Fed also announced plans to start reducing asset purchases this year.

Aug 25, 2021 12:30 PM

New FHFA Housing Goals Focus on Affordable Housing

The Federal Housing Finance Agency on Aug. 18 released proposed 2022-24 housing goals for Fannie Mae and Freddie Mac that are primarily designed to promote equitable access to affordable housing with a specific focus on low- and moderate-income borrowers, minority communities and rural areas. FHFA also is proposing new single-family subgoals.

Aug 25, 2021 12:30 PM

Global CRE Investment at Pre-pandemic Levels in Q2: JLL

Global investment in commercial real estate totaled nearly $250 billion during the second quarter, more than double the amount invested at the same point last year, according to commercial real estate firm JLL, MBA NewsLink reported Aug. 17. Total global CRE investment activity is now back at 2019 levels. ​

Aug 25, 2021 12:30 PM

Hotel Forecast Shows Improvement, but Lower Growth is Projected in 2022: Analysis

The forecast for U.S. hotels this year has been upgraded, but projections for next year call for reduced growth, according to analytics firms STR and Tourism Economics, MBA NewsLink reported Aug. 17. Room demand is expected to fully recover in 2023, but revenue per available room likely won’t reach pre-pandemic levels until 2024.

Aug 18, 2021 12:30 PM

AI Board of Directors Adopts Strategic Plan

The Appraisal Institute Board of Directors adopted a Strategic Plan at its Aug. 12-13 meeting in Orlando, Florida.

Aug 18, 2021 12:30 PM

Sandra Adomatis Elected 2022 AI Vice President

Sandra K. Adomatis, SRA, of Punta Gorda, Florida, was elected 2022 vice president of the Appraisal Institute Aug. 12 by the AI Board of Directors during its meeting in Orlando, Florida. Adomatis’ one-year term as vice president will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

Aug 18, 2021 12:30 PM

AI Board of Directors Adopts 45-Day Notice Items During August Meeting

The Appraisal Institute Board of Directors voted to adopt three 45-Day Notice items during its Aug. 12-13 meeting in Orlando, Florida. The 45-Day Notice items address Audit Committee powers and duties, the Candidate for Designation program, and Life Status and Designated Member readmission.

Aug 04, 2021 12:30 PM

Record Low Cap Rates for Single-tenant Dollar Stores: Data

Cap rates in the single-tenant net-lease dollar store sector reached a historic low during the second quarter, according to the Net Lease Dollar Store report released Aug. 1 by commercial real estate firm The Boulder Group. Dollar General’s cap rate was 5.75%, while Dollar Tree reached 6.50%.

Aug 04, 2021 12:30 PM

Fannie Mae: Appraisers Should Avoid "Problematic Phrases"

Fannie Mae in its July Appraiser Update newsletter has requested that appraisers avoid using phrases in their reports that can be viewed as problematic because they represent subjective judgments and not objective facts. Examples of phases that should be avoided are “desirable neighborhood,” “crime-ridden area,” “affordable neighborhood” and “Integrated community.”

Aug 04, 2021 12:30 PM

Smaller Cities Poised to Become Top Tech Markets, Led by Dayton, Ohio, CBRE Reports

Dayton, Ohio, could be the next top tech market, according to a report from real estate firm CBRE, reported July 26. Market determinations are based on labor fundamentals and costs, growth opportunities for companies and high concentrations of tech workers. The list contains mostly smaller markets, and also includes Huntsville, Alabama, and Colorado Springs, Colorado.

Jul 14, 2021 12:30 PM

CFPB Issued $124M in Remediation over Mortgage Servicing

The Consumer Financial Protection Bureau in 2020 assessed more than $124 million in consumer remediation and civil penalties related to mortgage foreclosures, credit “redlining” and unreliable use of consumer data, MBA NewsLink reported July 1. Examiners discovered several violations of mortgage servicing rules in Regulation X.

Jul 14, 2021 12:30 PM

REIT Merger and Acquisitions May Set Annual Record: JLL

Merger and acquisition activity in real estate investment trusts has already reached $70 billion this year, and could reach an all-time high by year-end, according to commercial real estate firm JLL, MBA NewsLink reported July 6. The previous annual record for REIT activity was set in 2006 and totaled $103 billion.

Jul 14, 2021 12:30 PM

Strong Industrial Sector to Get Stronger as Demand Increases: Cushman & Wakefield

The industrial sector saw robust leasing activity last year, and that growth continues this year with net absorption of 2.3 million square feet through the first quarter, according to commercial real estate firm Cushman & Wakefield, reported July 6. The national average vacancy rate is 4.9% and the annual rent growth rate is 7.8%.

Jul 07, 2021 12:30 PM

Single-tenant Net Lease Cap Rates Rise: The Boulder Group

Single-tenant retail cap rates increased by 11 basis points to 6.02% during the second quarter, while industrial cap rates rose 18 basis points to 6.89% after reaching historic lows the previous quarter, commercial real estate firm The Boulder Group reported July 1 in its Q2 Net Lease Market Report. ​

Jul 07, 2021 12:30 PM

FHFA Makes Significant Updates to Mortgage Database

The Federal Housing Finance Agency on June 30 released new and expanded statistical products from the National Mortgage Database for new residential mortgage originations. New offerings include a monthly, quarterly and annual series focused on home purchase and refinance mortgages and national mortgage performance and a series of national- and state-level statistics for outstanding residential mortgages. ​

Jul 07, 2021 12:30 PM

Federal and Local Eviction Moratoria Prevented Foreclosures: Freddie Mac

Federal and local moratoria on foreclosures during the coronavirus pandemic prevented an eviction crisis among renters, but back rent is still a looming issue, Freddie Mac said in its Transitioning to Post-Pandemic Normal white paper published June 30. Freddie noted that a sufficient amount of rental assistance is still available.

Jun 30, 2021 12:30 PM

Supreme Court Rules FHFA Structure Unconstitutional

The Supreme Court on June 23 ruled that the Federal Housing Finance Agency’s structure violates the Constitution’s separation of powers principles and unlawfully limits a president’s ability to remove the head of an agency with a single top officer, the Associated Press reported. The justices sent the case back to a lower court for additional proceedings.

Jun 30, 2021 12:30 PM

Biden Appoints Sandra Thompson as Acting FHFA Director

The White House on June 23 announced Sandra L. Thompson as acting director of the Federal Housing Finance Agency. Thompson, formerly the FHFA’s deputy director of the Division of Housing Mission and Goals, said she will focus on affordable housing, especially in communities of color. President Biden removed Mark Calabria as FHFA director following the Supreme Court ruling allowing him to do so.

Jun 30, 2021 12:30 PM

Supreme Court Decision on Private Property "Takings" Seen as a Victory for Owners

The Supreme Court on June 23 ruled on a Fifth Amendment “takings” decision, upholding a provision requiring the government to compensate landowners when private property is taken, even if the taking is short-term, the National Association of Home Builders reported. The ruling noted that a “central importance” of property ownership is the “right to exclude” others.

Jun 23, 2021 12:30 PM

MISMO Approves Updated Commercial Appraisal Dataset

Real estate finance industry standards group MISMO announced June 17 the availability of its updated Commercial Appraisal Dataset standard and accompanying package of resources to help facilitate an exchange of appraisal information across the CRE finance industry. The dataset achieved “Candidate Recommendation” status, meaning a thorough review by industry participants.

Jun 23, 2021 12:30 PM

Housing Supply Crisis Requires Immediate Action: NAR

Decades of reduced investment in the housing sector and significant underbuilding have caused a dire shortage of homes that urgently needs to be addressed, the National Association of Realtors stated in its June 16 report Housing is Critical Infrastructure: Social and Economic Benefits of Building More Housing. The report revealed an “underbuilding gap” of 5.5 to 6.8 million housing units since 2001.​

Jun 23, 2021 12:30 PM

Firms Rethink Plans to Shrink Office Portfolios as Employees Return to Work: CBRE

Many U.S. firms are rethinking plans to scale back their real estate portfolios and instead expect workers to return to a “relatively normal” office environment, according to the Spring 2021 Occupier Survey from real estate firm CBRE, MBA NewsLink reported June 16. Only 9% of firms said they anticipate shrinking their office footprint, down from 39% in September.

Jun 16, 2021 12:30 PM

EPA, Army Plan to Revise Definition of the National Waters

The Environmental Protection Agency and the Department of the Army announced June 9 that they intend to revise the definition of “waters of the United States” to better protect the nation’s resources. The regulatory effort will be guided by multiple stakeholders, including landowners, the agricultural community and local governments.

Jun 16, 2021 12:30 PM

Investment in Net-lease Properties Inches Closer to Pre-pandemic Levels: CBRE

Investment in net-lease properties, which comprise office, industrial and retail, jumped 10% during the first quarter compared with the same point a year ago, according to the U.S. Net Lease Investment Report from commercial real estate firm CBRE, MBA NewsLink reported June 8. The report cited increased interested in office properties and “robust” institutional acquisition activity as key drivers.​

Jun 16, 2021 12:30 PM

LREAB, FTC Settle Appraisal Services Price Fixing Charges

The Federal Trade Commission announced June 11 that the Louisiana Real Estate Appraisers Board will stop setting compensation levels for residential real estate appraisal services within the state, which the FTC alleged is a violation of federal antitrust law. The proposed settlement prevents the LREAB from adopting a fee schedule for appraisal services or taking any action to raise, stabilize or fix compensation levels for appraisal services.

Jun 09, 2021 12:30 PM

Biden Administration Looks at Appraisals as Part of Effort to Reduce Wealth Gap

The Biden administration announced June 1 that as part of its efforts to increase Black wealth, Department of Housing and Urban Development Secretary Marcia Fudge will lead an interagency taskforce to address inequity in home appraisals. The Appraisal Institute supports the task force, which is consistent with congressional legislation backed by the organization (H.R. 2553 the Real Estate Valuation Fairness and Improvement Act).

Jun 09, 2021 12:30 PM

Home Builders Cannot Keep Up with Homebuyer Demand, Fed Beige Book Says

Demand for new homes outpaced homebuilders’ capacity to construct in many fed districts, according to the latest Beige Book released June 2 by the Federal Reserve. Non-residential construction advanced at a moderate pace in many districts, while some reported that supply chain disruptions pushed costs higher and delayed some projects.

Jun 09, 2021 12:30 PM

Pent-up Demand for Leisure, Healthcare Properties to Drive Recovery: Forecast

Pent-up demand for leisure, healthcare, hospitality and recreation will lead to greater consumption and help drive an economic recovery according to the June 2021 forecast released June 2 by the UCLA Anderson School of Management. Employment levels also are expected to recover to previous peaks. ​

Jun 02, 2021 12:30 PM

White House Executive Order Reinstates Flood Risk Standards

President Biden on May 20 signed the Executive Order on Climate-Related Financial Risk, which reinstates the 2015 Federal Flood Risk Management Standard that was revoked under the Trump administration, the National Association of Home Builders reported. The FFRMS significantly expands floodplain areas without congressional oversight and mandates that climate-related financial risk be factored into underwriting standards.

Jun 02, 2021 12:30 PM

Biden Seeks $318 Billion for Housing in Infrastructure Plan

The Biden Administration announced May 26 that the American Jobs Plan will include $318 billion to produce or preserve more than two million affordable housing units around the country, Bloomberg CityLab reported. The proposal includes $105 billion in new tax credits, which should boost the number of affordable homes built and maintained every year.

Jun 02, 2021 12:30 PM

US Office Lease Growth Stalls Year-over-year While Vacancies Rise, Data Reveals

The average U.S. office lease rate was up just 0.2% year-over-year in April while the vacancy rate in the top 50 office markets hit 16%, according to data released May 24 by commercial research firm CommercialEdge. The data also showed that more than two-thirds of office space under construction is in urban submarkets.

May 26, 2021 12:30 PM

House Passes Legislation Addressing FHA Appraisals

The House on May 18 passed HR 3008, the Homebuyer Assistance Act, legislation reintroduced by Reps. Brad Sherman, D-Calif., and Van Taylor, R-Texas, that would amend the National Housing Act and allow state-licensed appraisers to perform appraisals for mortgages insured by the Federal Housing Administration. The legislation would require compliance with existing appraiser education requirements.

May 26, 2021 12:30 PM

FHFA Submits Proposed Plan for Underserved Markets

The Federal Housing Finance Agency on May 19 published its proposed 2022-24 Underserved Markets Plan that outlines how Fannie Mae and Freddie Mac will serve the manufactured housing, affordable housing preservation and rural housing markets through increased liquidity of mortgage investments, MReport reported. The Duty to Serve also aims to facilitate a secondary market for low-income financing.

May 19, 2021 12:30 PM

IRS to Resolve "Significant Number" of Easement Claims

The IRS is expected to resolve a “significant number” of court challenges regarding tax deductions for conservation easements, with settlement offers involving the payment of taxes, interest and penalties, Bloomberg reported May 11. The IRS is cracking down on allegedly exaggerated easement deductions, investigating 28,000 taxpayers and challenging $21 billion in deductions from 2016 through 2018.

May 19, 2021 12:30 PM

OCC Launches Review of its own Regulations

The Office of the Comptroller of the Currency, which regulates the nation’s banks, is launching a review of its own regulatory standards, Michael J. Hsu, acting Comptroller of the Currency, announced May 10. As part of the review, the OCC is looking into capital, leverage, and liquidity regulations; the “disproportionate impact” of the pandemic on rural and minority communities; and risks associated with climate change.

May 19, 2021 12:30 PM

Senators Push CFPB to Reconsider Delaying Implementation of Qualified Mortgage Rule

Sens. Mark Warner (D-Va.) and Tim Scott (R-S.C.) sent a letter to the Consumer Financial Protection Bureau urging it to reconsider a plan to delay implementation of the General Qualified Mortgage Final Rule, HousingWire reported May 12. The senators noted that the Finale Rule is important because it provides an “appropriate balance” between providing consumer protection and making mortgage credit available.​

May 12, 2021 12:30 PM

Proposed Real Estate Tax Could Hit Smaller Investors: Report

President Biden is seeking higher taxes on real estate transactions with gains of more than $500,000 — so-called 1031 exchanges where investors defer paying taxes on real estate by rolling profits into their next property — but experts worry about the effect on smaller investors, in particular, CNBC reported May 3. The taxes would help fund the $1.8 trillion American Families Plan.

May 12, 2021 12:30 PM

Judge Tosses CDC Eviction Moratorium, Puts Ruling on Hold

A federal judge on May 5 threw out the Center for Disease Control and Prevention’s national moratorium on residential evictions, but agreed to hold the ruling while the government works to reverse the decision on appeal, Reuters reported. The judge said that a moratorium on evictions was not part of Congress’ intent to allow the CDC to help individuals during the coronavirus.

May 12, 2021 12:30 PM

Hospitality Sector Expected to Improve Over Summer as Part of Slow Recovery: Data

The occupancy rate for hotel properties remains flat, but the sector is expected to pick up once consumers start traveling this summer, according to analytics firms STR and Trepp, MBA NewsLink reported May 4. The number of hospitality properties delinquent on their loans or in some form of forbearance has declined, although the sector is expected to face a slow recovery.

May 05, 2021 12:30 PM

FHFA Low-income Refi Option Includes Appraisal Credit

The Federal Housing Finance Agency announced April 28 that Fannie Mae and Freddie Mac will implement a new refinance option for eligible low-income borrowers that is expected to save them $100-$250 per month. An appraisal credit of up to $500 from the lender will be included if a borrower doesn’t qualify for an appraisal waiver.

May 05, 2021 12:30 PM

CFPB Delays Required QM Rule Compliance Until Fall 2022

The Consumer Financial Protection Bureau announced April 27 that it will delay mandatory compliance of the General Qualified Mortgage final rule to Oct. 1, 2022. Compliance was set to begin this July, but the agency extended the deadline to help consumers who have been affected by the coronavirus pandemic.​

May 05, 2021 12:30 PM

Fed Keeps Interest Rates Near Zero, Bond Buying Steady as Growth and Inflation Rise

The Federal Open Market Committee announced April 28 that it will keep short-term interest rates close to zero and continue buying at least $120 billion per month in bonds, CNBC reported. The move comes as the economy stays strong and the Fed remains unconcerned about a slight rise in inflation.

Apr 28, 2021 12:30 PM

Homes in Black Neighborhoods Undervalued By $46,000: Data

The average property in a predominantly Black neighborhood in the U.S. is worth $46,000 less than a similar home in a primarily white neighborhood, according to a report published April 21 by online real estate marketplace Redfin. The research looked at value estimates for more than seven million properties sold between 2013 and February 2021.

Apr 28, 2021 12:30 PM

FHFA Extends Appraisal Loan Flexibilities Due to COVID-19

The Federal Housing Finance Agency announced April 21 that Fannie Mae and Freddie Mac will extend alternative appraisals on purchase and rate-term refinance loans until May 31. Importantly, the FHFA said that due to lack of use, this would be the final extension for alternative appraisals as well as for those pertaining to power of attorney, employment verification and condo review.

Apr 28, 2021 12:30 PM

Silicon Valley Has Lowest Office Vacancy Rate; Other Cities Face Surplus Space: JLL

The office vacancy rate for Silicon Valley was 11% during the first quarter, the lowest in the U.S., according to commercial real estate firm JLL, reported April 20. For comparison, the first-quarter office vacancy rate was 13% for New York City (the highest in 30 years) and 16% for both San Francisco and Seattle.

Apr 21, 2021 12:30 PM

House Approves Real Estate Valuation Fairness Legislation

The House Financial Services Committee on April 20 approved HR 2553, the Real Estate Valuation Fairness and Improvement Act, legislation that would establish an interagency task force to analyze federal collateral underwriting standards and guidance, and provide resources for promoting diversity within the valuation profession. The bill now moves to a full House vote, but no date has been set.

Apr 21, 2021 12:30 PM

Minority Households Face Affordability Issues: NAHB Analysis

Only 24% of Black households can afford the nation’s median new home price of $346,577, the National Association of Home Builders reported April 13. For comparison, 32% of Hispanic households can afford a median price home as can 44% of non-Hispanic white households and 56% of Asian households. The affordability gap is an issue across all states.

Apr 21, 2021 12:30 PM

Lack of Supply Drives Up Home Prices; Commercial Sector Still Stalled: Fed Beige Book

Strong demand for single-family homes continues to drive up prices, but builders are struggling to meet demand and reporting numerous production challenges and rising construction costs, the Federal Reserve reported April 14 in its newest Beige Book. On the commercial side, the hotel, retail and office sectors generally remain weak.

Apr 14, 2021 12:30 PM

Biden Seeks More Affordable Housing with $5B in Incentives

President Biden is seeking to increase affordable housing in the U.S. by providing $5 billion in financial incentives to local governments to allow apartment buildings in neighborhoods that are restricted to single-family homes, Reuters reported April 8. The incentives to change zoning laws are part of the president’s overall $2 trillion infrastructure proposal.

Apr 14, 2021 12:30 PM

CFPB Seeks to Ban Foreclosure Starts Until 2022

The Consumer Financial Protection Bureau on April 5 released a notice of proposed rulemaking that would prohibit servicers from initiating foreclosure proceedings until after Dec. 31, 2021. Current rules state that borrowers have to be delinquent for 120 days before the foreclosure process can start. Comments on the proposal are due May 11.

Apr 14, 2021 12:30 PM

Homebuyer, Seller Sentiment Up, Mortgage Outlook Down, Fannie Mae Index Shows

The Fannie Mae Home Purchase Sentiment Index released April 7 showed a month-over-month increase in the number of consumers who think it’s a good time to buy or sell a home, and the majority think home prices will increase this year. The mortgage rate outlook was the sole declining index, with just 6% of consumers believing that rates will drop during the year.

Apr 07, 2021 12:30 PM

$2.3T Infrastructure Plan Includes Billions for Real Estate

President Biden on March 31 announced a $2.3 trillion, eight-year plan focused on infrastructure and clean energy, and the plan would directly affect commercial and residential real estate with $213 billion allocated to building, preserving and upgrading two million homes and commercial buildings, the Real Estate Round Table reported.

Apr 07, 2021 12:30 PM

CFPB Rescinds Temporary Appraisal Flexibilities​e-industry-complies-with-consumer-protection-laws/​

Apr 07, 2021 12:30 PM

Cap Rates In Single-tenant Net Lease Sector Reach Historic Lows: The Boulder Group

Cap rates in the single-tenant net lease sector reached historic lows for the retail and industrial sectors during the first quarter, commercial real estate firm The Boulder Group reported April 1 in its Net Lease Market report. Retail rates compressed by 9 basis points to 5.91%, and industrial rates compressed by 4 basis points to 6.71%.

Mar 31, 2021 12:30 PM

Developers Turning Golf Courses into Logistics Hubs: Report

The demand for warehouse space continues to grow, and developers looking for large tracts of land on which to build logistics hubs are buying languishing golf courses, Bloomberg reported March 24. Interest in golf surged in the early 2000s, which led to overbuilding, and now that the sport is in decline, the vast acreage is being redeveloped to meet growing e-commerce needs.

Mar 31, 2021 12:30 PM

Industrial Property Values Up as Supply Hinders Market: Data

Industrial property values have increased 8.8% during the past year while warehouse property values rose 10%, according to a report from real estate data firm Real Capital Analytics, reported Mach 22. Values are expected to continue rising due to increased demand and constrained supply; facilities in large population centers should see the greatest increases.

Mar 31, 2021 12:30 PM

Demand For Office Space Improves a Year into Pandemic, Recovery Likely, Index Shows

Demand for office space remains 38% lower than just before the pandemic lockdown — but that’s an improvement from last May when demand was 85% lower than pre-pandemic levels, commercial real estate leasing firm VTS reported March 24 in its Office Demand Index. Significant gains in January and February indicate that a recovery is coming.

Mar 24, 2021 12:30 PM

Nearly 50% of Americans Missed Housing Payments: Data

Forty-six percent of Americans missed at least one mortgage or rent payment since the beginning of the coronavirus pandemic, and 25% missed more than one payment, according to survey results released March 11 by personal finance website GOBankingRates. The data showed that the missed payments likely were the result of layoffs and reduced work hours.

Mar 24, 2021 12:30 PM

Economy Likely to Grow, Housing to Remain Stable: Report

Gross domestic product and employment should expand during the coming months, and interest rates are expected to rise but have a nominal effect on home sales, Fannie Mae reported March 17 it its Economic & Housing Outlook report. Fannie expects single-family home sales to be slightly lower this year than last, and anticipates an uneven year for multifamily properties.

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.

Feb 10, 2021 12:30 PM

COVID-19 Could Close 10,000 Retail Stores This Year: Study

The coronavirus pandemic continues to ravage the retail sector, with estimates showing 10,000 stores could close this year, up from the 8,741 stores that closed in 2020, according to Coresight Research, Bisnow reported Jan. 28. Closures this year could foist 138.5 million square feet of retail space onto the market. However, 3,500 to 4,000 new stores are expected to open this year.

Feb 10, 2021 12:30 PM

33 Attorneys General Oppose Class Action Suit Against Ocwen

A group of 33 state attorneys general filed a motion Feb. 2 against PHH Mortgage and its predecessor Ocwen Loan Servicing opposing the proposed settlement for a class action lawsuit that alleged the firm charged nearly 1 million borrowers unlawful servicing fees, HousingWire reported. The attorneys general claim the proposed settlement was carried out too quickly in light of the coronavirus pandemic.

Feb 10, 2021 12:30 PM

Cap Rates in Net-lease Big-box Sector Drop Year-over-Year: The Boulder Group

Cap rates in the single-tenant net-lease big-box sector dropped 25 basis points to 6.75% between fourth quarter 2019 and fourth quarter 2020, commercial real estate firm The Boulder Group reported Feb. 1 in its Net Lease Big Box report. The decrease was mainly the result of greater interest among investors in grocery and home improvement businesses.

Feb 03, 2021 12:30 PM

Biden: Government Had Role in Undervaluation of Property

The Biden administration on Jan. 26 released a memorandum to the Department of Housing and Urban Development acknowledging that federal, state and local governments systematically implemented racially discriminatory housing policies during the 20th century, and noted a persistent undervaluation of properties owned by families of color. The administration directed HUD to examine the effects of such policies.

Feb 03, 2021 12:30 PM

AI Offers White House Help on Fair Housing Issues

The Appraisal Institute on Jan. 27 sent a letter to President Biden expressing support for the administration’s actions to address the federal government’s history of housing discrimination. AI pledged assistance in addressing fair housing issues and outlined how it’s seeking solutions to appraisal equity, diversity and inclusion.

Feb 03, 2021 12:30 PM

Silicon Valley Office Market Bucks the Trend with Favorable Conditions, JLL Reports

As other major office markets contract, Silicon Valley thrives, with positive net absorption, stable rents and ongoing investor activity, according to real estate services firm JLL, WealthManagement reported Jan. 25. Buildings are selling for an average of $630 per square foot, led by newly built class-A products and older assets occupied by tenants with long-term leases.

Jan 27, 2021 12:30 PM

FHFA Extends Moratorium on Single-family Foreclosures

The Federal Housing Finance Agency announced Jan. 19 that it will extend until Feb. 28 the moratorium on single-family foreclosures and real estate-owned evictions; the current moratorium was set to expire at the end of this month. FHFA cited the need to keep families safe and in their homes during the ongoing coronavirus pandemic.

Jan 27, 2021 12:30 PM

Input Sought on Natural Disaster Risks to Housing Finance

The Federal Housing Finance Agency on Jan. 19 issued a Request for Input on current and future natural disaster risks that could affect the housing finance system, Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Feedback is due to the agency by April 19.

Jan 27, 2021 12:30 PM

Colliers Survey Shows "Surge" in Commercial Property Investment Expected This Year

A 50% surge in global investment activity is expected in the second half of the year, indicating a renewed confidence in real estate as a result of vaccine developments and continued government stimulus, investment management firm Colliers reported Jan.18. Offices in top-tier cities, logistics properties and residential buildings are expected to be top targets among investors.

Jan 20, 2021 12:30 PM

GSEs Extend Flexibilities for Appraisals, Employment Verification

The Federal Housing Finance Agency announced Jan. 14 that Fannie Mae and Freddie Mac will extend their flexibilities pertaining to both property appraisals and employment verification through Feb 28. The flexibilities were initially put in place in March 2020 and extended throughout last year in an effort to facilitate liquidity in the mortgage marketplace during the coronavirus outbreak.

Jan 20, 2021 12:30 PM

Essential Worker Status May Help Appraisers Get Early Vaccination

The Appraisal Institute on Jan. 20 advised its professionals to check with state and local government agencies where they reside to see if the real estate appraiser profession falls into an essential workforce category that will give them early access to a COVID-19 vaccine.

Jan 20, 2021 12:30 PM

SBA Re-opens Paycheck Protection Program for New and Some Current Borrowers

The Small Business Administration, in consultation with the Department of the Treasury, on Jan. 11 re-opened the Paycheck Protection Program for new borrowers and select current ones. The latest round of funding authorizes up to $284 billion for small business owners to aid in job retention for their employees and to assist with other expenses.

Dec 11, 2019 12:50 PM

FHA Raises Loan Limits Following Fannie, Freddie Action

The Federal Housing Administration on Dec. 5 announced that its loan limit for much of the U.S. will increase about $17,000 to $331,760 for 2020, HousingWire reported. The FHA loan limit is calculated as a percentage of the conforming limit established by Fannie Mae and Freddie Mac, which will increase to $510,400 next year.

Dec 11, 2019 12:50 PM

Treasury Council Report Covers Market, Regulatory Progress

The Treasury Department’s Financial Stability Oversight Council released its annual report Dec. 4, which showed significant financial market and regulatory developments and revealed potential threats to U.S. financial security. The report also noted that federal and state regulators are collecting data, identifying risks and strengthening oversight of nonbank financial companies that originate and service residential mortgages.

Dec 11, 2019 12:50 PM

Odds of US Recession Decrease, But Slowdown is Likely, Bankrate Survey Reveals

The chances of an economic recession in the U.S. next year are decreasing, but experts said there’s a 35% chance of a downturn before the presidential election and they expect job growth to slow and unemployment to increase, according to Bankrate’s Fourth Quarter Economic Indicator survey released Dec. 4.

Oct 16, 2019 01:56 PM

FEMA May Buy Millions of Properties in Flood-prone Areas

Only 43,000 properties at high risk of flooding have been sold to the government since 1989, but data released Oct. 9 by the Federal Emergency Management Agency showed that millions more may need to be purchased due to climate change, Bloomberg reported. The data also revealed that FEMA is unprepared for a massive, government-subsidized real estate buyout.

Oct 16, 2019 01:54 PM

CoStar to Acquire Hospitality Analytics Firm STR for $450M

CoStar Group announced Oct. 1 that it will acquire global hospitality and benchmarking firm STR for $450 million in cash, allowing CoStar to provide data and analytics on the $3 trillion hotel asset class. The deal is expected to close during the fourth quarter.

Oct 16, 2019 01:53 PM

Cap Rates for Commercial Properties Drop in the Second Quarter: The Boulder Group

Cap rates for retail, industrial and office properties in the single-tenant net lease investment sector fell for the second consecutive quarter, according to the Net Lease Market Report released Oct. 8 by investment services firm The Boulder Group, reported. The Federal Reserve's interest rate reduction was cited as a key factor for the second-quarter drop.

Oct 09, 2019 12:30 PM

Residential Appraisal Threshold Increase Becomes Official

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency on Sept. 27 announced the official adoption of a final rule that increases the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000. Transactions exempt from the appraisal requirement must instead obtain an evaluation.

Oct 09, 2019 12:30 PM

FHFA, Treasury to Allow Fannie, Freddie to Retain Capital

The Federal Housing Finance Agency and the Treasury Department announced Sept. 30 that Fannie Mae and Freddie Mac will be allowed to retain up to $45 billion in capital as they prepare to exit conservatorship, HousingWire reported. The Trump administration previously indicated that it opposed a profit sweep of the government-sponsored enterprises.

Oct 09, 2019 12:30 PM

CRE Performs Inconsistently, But Should Thrive Through Year-end, Report Shows

A review of mid-year commercial real estate showed spreads and divergence in property sectors, but performance for the rest of the year should thrive, according to the U.S. Real Estate Summary report released Oct. 1 by UBS Asset Management, Commercial Property Executive reported. The report showed minimal movement in cap rates and a drop in 10-year Treasury rates.

Oct 02, 2019 02:39 PM

Banking Committee Leaders Seek Answers on Appraisal Waiver

Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, on Sept. 24 submitted a letter to the Appraisal Subcommittee seeking answers about its July decision to grant a waiver of appraiser certification and licensing to the state of North Dakota. The letter expressed “surprise and concern” about the “unprecedented” waiver.

Oct 02, 2019 02:38 PM

Investors Push Down Industrial Cap Rates, CBRE Survey Shows

Investors in search of yield are putting money into industrial properties in secondary and tertiary markets, which is causing cap rate compression there, according to the first half 2019 cap rate survey released Sept. 24 by real estate firm CBRE, National Real Estate Investor reported.

Oct 02, 2019 02:35 PM

Rise in Co-working Spaces May Make Next Recession Worse, Boston Fed Reports

The increase in co-working space could be a source of financial instability and make the next recession worse by sparking a run on commercial real estate, Eric Rosengren, president of the Boston Federal Reserve, told an audience at New York University Sept. 20, Reuters reported. Rosengren expressed concern that the financial strength of the co-working model hasn’t been tested.

Sep 25, 2019 12:30 PM

Trump Asks Supreme Court for More Authority Over CFPB

The Trump administration on Sept. 17 asked the Supreme Court to take up a pending appeal and rule that the president has constitutional authority to fire the director of the Consumer Financial Protection Bureau, Bloomberg reported. The 2010 law that established the CFPB states the director can only be removed for “inefficiency, neglect of duty, or malfeasance in office.”

Sep 25, 2019 12:30 PM

Multifamily Cap Rates Rise in Cities with Rent Control: RCA

More than 80% of markets with rent-control regulation saw an increase in cap rates on multifamily properties during the past year as investors pay less for properties, according to analytics firm Real Capital Analytics, National Real Estate Investor reported Sept. 17. In many markets, investors are spooked by the potential for additional regulation.

Sep 25, 2019 12:30 PM

Life Insurance Companies Want to Increase Multifamily Lending, Holdings, MBA Reports

Life insurance companies said they want to increase their multifamily lending volume by approximately $10 billion next year, and ultimately hold between $50 billion and $120 billion in loans backed by multifamily properties over the next five years, the Mortgage Bankers Association reported Sept. 16.​

Sep 18, 2019 11:45 AM

NCREIF Issues Agricultural Appraisal Guidelines

The National Council of Real Estate Investment Fiduciaries released its Agricultural Appraisal Guidelines Sept. 11. Developed by members of the NCREIF Farmland Committee with input from organizations such as the Appraisal Institute, the guidelines are intended to provide clearly defined standards for appraisers, but are not intended to replace any current valuation requirements.

Sep 18, 2019 11:44 AM

Flex Office Space to Claim Bigger Market Slice: CBRE

The U.S. market for flexible office space is expected to boom during the next 10-plus years, according to a report released Sept. 12 by real estate firm CBRE. By 2030, flex space is expected to account for 13% of overall office space, up from 1.8% today, and total 600 million square feet, up from 71 million square feet.

Sep 18, 2019 11:42 AM

New York, Indiana Boast Top Office Construction Markets, According to Yardi Matrix

South Bend, Indiana, and the New York City boroughs of Brooklyn and Queens are top metros for office construction in terms of supply as a percentage of existing stock, according to analytics firm Yardi Matrix, Commercial Property Executive reported Sept. 11. Brooklyn and Queens benefit from proximity to Manhattan while South Bend benefits from an expanding downtown.

Jul 24, 2019 11:53 AM

AI Condemns NCUA Action Quadrupling Appraisal Threshold

The Appraisal Institute on July 18 condemned as irresponsible and dangerous the National Credit Union Administration’s decision to increase the appraisal threshold for nonresidential real estate loans from $250,000 to $1 million, effectively reducing the number of appraisals required for commercial loans and challenging the safety and soundness of the system.

Jul 24, 2019 11:51 AM

FHA Delays Digital Signature Requirement for EAD System

The Federal Housing Administration is delaying its requirement for XML Digital Signatures on all appraisals uploaded to the Electronic Appraisal Delivery System, the agency announced July 11. The requirement was to have taken effect Aug. 5; no new date has been set, and XML Digital Signature Hard Stops remain eligible for automatic overrides.

Jul 24, 2019 11:47 AM

White House Plans September Release for Proposed Reforms for Fannie, Freddie

The Trump administration’s plan to overhaul Fannie Mae and Freddie Mac likely will wait until September due to other priorities within the Treasury Department, Reuters reported July 17. The Federal Housing Finance Agency hasn’t set a timeline for releasing the government-sponsored enterprises from conservatorship, which means the issue may not be resolved before the 2020 election.

Jul 10, 2019 12:30 PM

Energy Sector Caused Office Market Downturn; Houston Showing Improvement: JLL Report

The 2019 energy outlook report released July 1 by commercial real estate firm JLL indicated that the office sector in North American energy markets like Houston are still feeling the effects of the 2014-17 oil downturn, but the situation is improving, Commercial Property Executive reported. In Houston, the vacancy rate marks a 140 basis-point decline from its mid-2018 peak figure.

Mar 23, 2018 11:16 AM

North Carolina Supreme Court Allows Brokers’ Fair Market Value Testimony

The North Carolina Supreme Court in an opinion filed March 2 held that real estate brokers may legally testify regarding the fair market value of real property in condemnation cases. The case involved the state's condemnation of approximately two acres of commercial property for a highway construction project.

Mar 23, 2018 11:14 AM

AI Backs Revisions as Senate OKs Banking Reform Bill

The Appraisal Institute led nearly three dozen valuation organizations in supporting revisions to a bipartisan Senate bill that passed March 14. The measure, which now goes to the House, rolled back many post-financial-crisis banking rules found in the Dodd-Frank Act.

Mar 23, 2018 11:12 AM

Appraisal Institute Partners with RESNET to Create Appraisal Portal

The Appraisal Institute on March 13 announced its partnership with the Residential Energy Services Network to launch an appraiser portal that allows AI professionals to access data for properties with Home Energy Rating System Index scores.


FHFA to Increase Conforming Loan Limits for 2018

The Federal Housing Finance Agency announced Nov. 28 that the maximum conforming loans limits for mortgages purchased by Fannie Mae and Freddie Mac next year will be $453,100 for most single-unit properties, up from $424,100 this year. The limit is based on the average U.S. home price.

Aug 10, 2016 12:30 PM

CFPB Publishes 900-page Mortgage Lending Final Rule

The Consumer Financial Protection Bureau on Aug. 4 finalized mortgage servicing regulations to ensure borrowers are treated fairly, HousingWire reported. Included in the 900-page final rule are mandates that certain borrowers receive foreclosure protections more than once during the life of the loan and that foreclosure protections cover those inheriting property.

Jul 27, 2016 02:42 PM

Court Revives Freddie Mac Subprime Suit

A federal appeals court on July 20 revived a lawsuit filed by the Ohio attorney general that accuses Freddie Mac of defrauding the state’s $87.3 billion pension fund by failing to disclose risk to subprime mortgages, Reuters reported. A lower court had ruled that disclosure shortfalls didn’t prove monetary loss.

Jul 27, 2016 02:39 PM

‘Down-and-Out’ Neighborhoods Make a Rebound

Many so called “rough-and-tumble” neighborhoods have bounced back in recent years, as tight inventory and new construction has helped convince homebuyers to consider such neighborhoods, analytics firm RealtyTrac reported July 20 in its best of the “bad” neighborhoods report.

Jul 27, 2016 02:32 PM

White House Unveils Clean Energy Initiative

The White House on July 19 announced the Clean Energy Savings for All Initiative, a joint effort from the Environmental Protection Agency and the departments of Energy, Agriculture, Veteran’s Affairs, Housing and Urban Development and Health and Human Services to increase access to solar energy, promote energy efficiency and ensure homeowner access to solar options.

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