Appraisal Institute News | Appraisal Institute

Aug 29, 2018 12:30 PM

Oregon Allows Timber High-Rises

Oregon passed an addendum to its building code that allows timber structures to be built higher than six stories without having to apply for special permission — the first state to OK this type of construction, Curbed reported Aug. 21.

Aug 22, 2018 12:30 PM

Royal Bank of Scotland to Pay Nearly $5B Over Mortgage Securities Misconduct

The U.S. Justice Department announced Aug. 14 that Royal Bank of Scotland will pay $4.9 billion to settle claims that it misled investors when underwriting and issuing residential mortgage-backed securities leading up to the housing crisis, HousingWire reported. The penalty is the largest ever imposed by DOJ related to the financial crisis.

Aug 22, 2018 12:30 PM

High Demand for Warehouse Facilities in Coastal Markets, Report Shows

Coastal markets are reporting significant demand for warehouses between 25,000 and 40,000 square feet, with vacancy rates for such properties hovering around 1 percent for four consecutive quarters, according to real estate services firm Colliers International, National Real Estate Investor reported Aug 13.

Aug 22, 2018 12:30 PM

Commercial Real Estate Executives See Balanced, Stable Market: Survey

Commercial real estate is expected to remain “balanced and stable” despite concerns that the market is nearing the end of its current cycle, according to CRE executives who responded to a survey from nonprofit public policy organization the Real Estate Roundtable, MBA NewsLink reported Aug. 15.

Aug 15, 2018 12:30 PM

North Dakota Seeks Appraisal Waivers for Some Residential Loans: Report

Officials in North Dakota are seeking a temporary appraisal waiver for residential loans up to $500,000, citing a shortage of qualified appraisers, Mortgage Daily reported Aug. 6. The joint request came from Gov. Doug Burgum, the Department of Financial Institutions and the North Dakota Bankers Association.

Aug 15, 2018 12:30 PM

Fannie Mae No Longer Requires Form 1004MC in Updated Selling Guide

Appraisers are no longer required to use form 1004MC, effective immediately, Fannie Mae announced Aug. 7 when releasing its updated Selling Guide. The change was anticipated and is expected to simplify reporting for appraisers and review for lenders. Appraisers still are responsible for analyzing and accurately reporting market conditions.

Aug 15, 2018 12:30 PM

Report Shows Possible Multifamily Downturn, Reveals Market Opportunities

While the multifamily market currently is strong, a downturn is expected over the next three years, making this a good time for both investors and sellers — depending on the city, according to online marketplace Ten-X, HousingWire reported Aug. 6. Houston is the top city for investors, while Miami is the top city for sellers.

Aug 08, 2018 12:30 PM

President Signs Bill Authorizing 4-month Flood Insurance Extension

President Trump on July 31 signed legislation that extends the National Flood Insurance Program by four months — until Nov. 30, the White House reported. The extension gives lawmakers a small window to craft a longer-term extension for the program, which is underfunded by about $20 billion.

Aug 08, 2018 12:30 PM

Fed Maintains Interest Rates Amid Strong Growth, Increased Spending

The Federal Reserve on Aug. 1 said that interest rates would remain unchanged due to strong growth — although a September hike is anticipated, Bloomberg reported. The Fed noted that unemployment is low, and household and business spending is on the rise.

Aug 08, 2018 12:30 PM

FHFA Extends Comment Period for Proposed GSE Capital Requirements Rule

The Federal Housing Finance Agency extended for an additional 60 days the public comment period for its proposed rule on capital requirements for the government-sponsored enterprises, MBA NewsLink reported Aug. 1. The FHFA cited numerous requests for more time from multiple stakeholders as reasons for the extension to Nov. 16.

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