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Sep 18, 2019 11:40 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 11:38 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 11:35 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.

 
Sep 11, 2019 12:30 PM

Housing Sector Slow, Commercial Sector Steady: Beige Book

Home sales through the end of August remained slow in most fed districts due to ongoing housing inventory shortages and flat new home construction, the Federal Reserve reported Sept. 4 in its newest Beige Book. On the commercial side, construction and sales activity held steady, and leasing increased slightly.

 
Sep 11, 2019 12:30 PM

Office Sector Shows Weakest CRE Growth Outlook Despite Strong Job Market: Report

The office market shows the weakest growth among commercial real estate sectors — despite strong job reports, according to real estate marketplace Ten-X, MBA NewsLink reported Sept. 5. The number of new office projects in the pipeline is expected to eclipse absorption and push vacancies up to 17.3% by the end of the year.

 
Sep 04, 2019 12:30 PM

Warning Sign for US CRE as Global Investors Selling: RCA

For the first time in seven years, global investors in U.S. office buildings and retail space sold more than they bought, according to a Real Capital Analytics report that identified the trend as a “yellow warning sign,” CNN reported Aug. 29. Acquisitions totaled $21.3 billion during the first half of the year, down more than 40% from a year ago.

 
Sep 04, 2019 12:30 PM

Next Recession Will not Cause Housing "Fire Sale:" Economists

Economists predict that the U.S. will experience a recession within the next two years, but Americans shouldn’t fear a real estate “fire sale” because the next downturn is expected to be short and have limited impact on the market, according to a Realtor.com report released Aug. 26.

 
Sep 04, 2019 12:30 PM

Small Cap Commercial Real Estate Faces Course Adjustment, Analytics Firm Reports

The small-cap commercial real estate sector has flattened and appears vulnerable, according to analytics firm Boxwood Means, MBA NewsLink reported Aug. 29. Small-cap net absorption during the second quarter for the office, industrial and retail sectors was 9.8 million square feet, up from 4.9 million square feet during the first quarter, but down 66.4% year-over-year.

 
Aug 28, 2019 12:30 PM

Economy Thriving, Major Risks Being Monitored: Fed Chair

The U.S. economy is thriving with economic expansion entering its 11th consecutive year — the longest on record, Federal Reserve Chair Jerome Powell said during a symposium at the Federal Reserve’s central banking conference in Jackson Hole, Wyoming, HousingWire reported Aug. 26. Powell noted significant risks, however, including slowing global growth and trade policy uncertainty.

 
Aug 28, 2019 12:30 PM

Commercial Real Estate Executives Report Stable Conditions: Real Estate Roundtable

Commercial real estate executives expressed confidence in the market as reports show balanced and stable economic market conditions, according to The Real Estate Roundtable’s 2019 Q3 Sentiment Index released Aug. 16. Around 60% of respondents said they believe real estate asset values will be the same a year from now.

 
Aug 21, 2019 12:30 PM

AI Opposes Banks' Residential Appraisal Threshold Increase

Federal banking regulators on Aug. 20 approved a final rule to increase the residential appraisal threshold from $250,000 to $400,000, effective after publication in the Federal Register, which should happen within days.

 
Aug 21, 2019 12:30 PM

FHA Passes Condo Approval Rule to Promote Ownership

The Federal Housing Administration on Aug. 14 published a final regulation establishing new condominium approval rules, notably allowing some individual condo units to be eligible for FHA mortgage insurance even if the condo project is not FHA approved. The regulations, which take effect Oct. 15, also permit more mixed-use projects to qualify for FHA insurance.

 
Aug 21, 2019 12:30 PM

US Office Sector Has Momentum; Second Quarter Vacancy Rate Hits 18-year Low: CBRE

The U.S office market experienced significant growth during the second quarter, with vacancy dropping to an 18-year low of 12.2%, according to real estate services firm CBRE, National Real Estate Investor reported Aug. 14. The market absorbed 17.1 million square feet, bringing the year-to-date total to 66.5 million square feet.

 
Aug 14, 2019 12:30 PM

US Farmland Value Increases Average of $60 Per Acre: USDA

The average value of U.S. farm real estate is $3,160 per acre, up from $3,100 per acre in 2018, according to the U.S. Agriculture Department’s 2019 Land Values Summary released Aug. 6, Ag Professional reported. The per-acre average for cropland also increased, while the per-acre average for pastureland reached a record $1,400.

 
Aug 14, 2019 12:30 PM

GSE Reform Mostly Complete, Former Freddie Mac CEO Says

The government-sponsored enterprises have almost been restored to a condition where they can be privatized without legislative input from Congress, according to the paper “GSE Reform: None or Mostly Done?”, authored by Donald Layton and released Aug. 7 by the Joint Center for Housing Studies at Harvard University. Layton resigned as Freddie Mac CEO last month.

 
Aug 14, 2019 12:30 PM

Multifamily Sector Going Strong, Expected to Continue Through 2020: Freddie Mac

The multifamily market has performed above average during the first half of the year, with especially strong performance during the second quarter, which is expected to continue through 2020, Freddie Mac reported Aug. 8 in its Multifamily Midyear Outlook. Low interest rates are expected to increase demand for multifamily investments and drive up origination volume.

 
Aug 07, 2019 12:30 PM

Court Grants Stay of Motion in FTC Case Against LREAB

A Louisiana court on July 29 granted a motion to stay in the Federal Trade Commission’s case against the Louisiana Real Estate Appraisers Board in which it alleged the LREAB illegally determined a floor for appraiser prices. The court ruled that, among other things, continuing the case would hamper the state’s ability to make and enforce policies.

 
Aug 07, 2019 12:30 PM

ASB Mulls Evaluations Standards; Paper Expected Soon

The Appraisal Standards Board of The Appraisal Foundation on Aug. 1 announced its intention to explore the creation of uniform standards for evaluations. The ASB said that since no standards exist for conducting evaluations, there is greater risk to the safety and soundness of real estate transactions and diminished protections for consumers. A concept paper is expected near Labor Day.

 
Aug 07, 2019 12:30 PM

FASB Proposes to Delay, Stagger Lease Accounting Standards Dates: Advisory Firm

The Financial Accounting Standards Board voted Aug. 1 to tentatively stagger effective dates for major accounting standards and to defer new standards on lease accounting and credit losses, advisory firm CohnReznick reported. The effective date of the new standard has tentatively been deferred to periods beginning after Dec. 15, 2020, for most entities.

 

HUD Halts Rule Change for FHA Down Payment Assistance

The U.S. Department of Housing and Urban Development on July 23 suspended “until further notice” a rule change made in April that affects its down payment assistance guidelines for Federal Housing Administration loans, HousingWire reported. A federal judge in Utah had ordered the suspension pending confirmation of the program’s legality.

 
Jul 31, 2019 12:30 PM

Jody Bishop Elected 2020 Appraisal Institute Vice President by AI Board of Directors

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, was elected 2020 vice president of the Appraisal Institute July 25 by the AI Board of Directors at its meeting in Denver. Bishop’s one-year term will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

 
Jul 31, 2019 12:30 PM

Court Orders California to Spend $330 Million Settlement Exclusively on Homeowners

The California Supreme Court on July 18 ruled that the state must spend the $330 million it received in 2012 as part of a nationwide settlement with lenders over unfair mortgage practices exclusively on homeowners, the Sacramento Bee reported. Gov. Gavin Newsom’s administration sought to continue using some funds for general purposes, as the previous administration had done.

 
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 17, 2019 12:30 PM

Federal Agencies Exempt Community Banks From Volcker Rule

A final rule exempting community banks (those with consolidated assets less than $10 billion) from the Volcker Rule was adopted July 9 and jointly announced by the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Securities and Exchange Commission.

 
Jul 17, 2019 12:30 PM

'iBuyer' Service Alters Selling Process, Cuts Some Requirements

A new partnership between real estate brokerage Redfin and homebuying service Opendoor will purchase properties directly from homeowners who list with Redfin, MarketWatch reported July 14. Sellers who accept the iBuyer offer avoid having to make pre-sale repairs and can skip some closing procedures — including, potentially, the appraisal — but risk receiving less than market value.

 
Jul 17, 2019 12:30 PM

Single-tenant Net Lease Cap Rates Drop Across Sectors, The Boulder Group Reports

Single-tenant net lease cap rates during the second quarter declined in the retail, office and industrial sectors, according to real estate firm The Boulder Group, MBA NewsLink reported July 11. New construction 7-Eleven properties — considered resistant to both recession and e-commerce challenges — showed the highest cap rate compression, dropping 12 basis points.

 
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.

 
Jul 10, 2019 12:30 PM

ASC OKs North Dakota Request for Temporary Appraisal Waiver

The Appraisal Subcommittee on July 9 approved a request from North Dakota for a temporary waiver from appraisal licensing requirements, declaring a scarcity of appraisers. The ASC granted the one-year waiver from licensing requirements by a 5-2 vote; an additional year is possible if state officials again seek a waiver based on the scarcity argument.

 
Jul 10, 2019 12:30 PM

Economic Expansion Hits 10-year Mark but Slowing Noted: Fed

The continuing American economic expansion has become the longest in history after hitting the 10-year mark on July 1, bringing unemployment to a 50-year low and dropping inflation to negligible levels, according to Federal Reserve policymakers, HousingWire reported July 3. However, the benefits from recent tax cuts are showing signs of wearing off, and GDP is expected to slow.

 
Jun 19, 2019 12:30 PM

FHFA Director to Congress: End Fannie, Freddie Conservatorship

Fannie Mae and Freddie Mac should be returned to private hands, and doing so could reduce taxpayer risk, promote competition and support homeownership, Federal Housing Finance Agency Director Mark Calabria stated June 11 in a letter accompanying his annual report to Congress, Bloomberg reported. Calabria said the housing finance system needs to be more sustainable.

 
Jun 19, 2019 12:30 PM

Freddie Mac Introduces CMBS Program Backed by Green Bonds

Freddie Mac on June 10 unveiled a commercial mortgage-backed security program backed by loans made to apartment building owners who perform sustainable property improvements, Bloomberg reported. The green bond will exclusively securitize loans made through Freddie’s Green Advantage program.

 
Jun 19, 2019 12:30 PM

Properties Located in Opportunity Zones Show Sales Growth: Real Capital Analytics

Interest in properties located within opportunity zones is rising, which is spurring owners of lower-quality assets to finally sell, according to a study released June 10 by Real Capital Analytics, GlobeSt.com reported. The study noted, however, many of the properties have deferred maintenance and are not selling for top dollar.

 
Jun 12, 2019 12:30 PM

Local Governments Have Worst Homebuilding Regulations: FHFA

Local municipalities need to reduce the number of regulations and the costs associated with them in order to spur homebuilding, Mark Calabria, director of the Federal Housing Finance Agency, told attendees June 3 at a conference in Washington, HousingWire reported. Calabria said the supply of homes under construction is not enough to keep up with demand.

 
Jun 12, 2019 12:30 PM

Fannie, Freddie Launch Uniform Mortgage-backed Security

Fannie Mae and Freddie Mac on June 3 launched the Uniform Mortgage-Backed Security, completing the their single-security initiative, MReport reported. The government-sponsored enterprises expect more efficiency and liquidity in the housing market, but critics argue that the UMBS won’t lower mortgage rates as touted.

 
Jun 12, 2019 12:30 PM

40% of Surveyed Economists Said They Expect a Fed Rate Drop Within the Next Year

Forty percent of economists who responded to Bankrate’s Second-Quarter Economic Indicator survey released June 6 said they believe that the Federal Reserve will lower interest rates in the next year. Respondents cited escalating U.S. tensions with China, slowing international growth and depleting fiscal stimulus as key factors.

 
Jun 05, 2019 12:30 PM

Licensed Alabama Appraisers Now Can Begin Performing Evaluations

Alabama enacted legislation, effective May 29, allowing state-licensed appraisers to perform evaluations for federally regulated financial institutions.

 
Jun 05, 2019 12:30 PM

Louisiana Appraisers May Start Performing Evaluations Aug. 1

Louisiana Gov. John Bel Edwards on May 30 signed HB 340, legislation that allows appraisers in the state to provide evaluations for federally insured depository institutions. The law takes effect Aug. 1.

 
Jun 05, 2019 12:30 PM

PACE Financing, HMDA Act Among Top Rulemaking Priorities for CFPB for the Year

The Consumer Financial Protection Bureau published its rulemaking agenda May 22, revealing that two of the biggest regulatory matters it will focus on over the next year will be financing for property assessed clean energy loans and new rules related to the Home Mortgage Disclosure Act. The agenda covers rulemaking through April 30, 2020.

 
May 29, 2019 05:05 PM

Government Agencies to Improve Relationship with Lenders: FHA

Regulatory compliance standards are discouraging lenders from working with various government housing agencies, Brian Montgomery, Federal Housing Administration commissioner, told attendees May 23 at a Mortgage Bankers Association conference, MBA NewsLink reported. Montgomery said the agencies are seeking to create a friendlier environment to encourage more lending.

 
May 29, 2019 05:03 PM

Survey Shows 47% of Homebuyers Affected by Tax Changes

Tax changes affected the house hunt of 47% of potential homebuyers this year, down from 56% last year when the effects of tax reform were mostly still speculative and not yet realized in paychecks, the online real estate marketplace Redfin reported in a survey released May 16.

 
May 29, 2019 04:59 PM

Mortgage Industry May Struggle with 'Zombie' LIBOR After Phaseout, Reuters Reports

The nation's mortgage industry probably will still have to deal with a "zombie" version of the London Interbank Offered Rate even after the benchmark is phased out in 2021, Reuters reported May 21. The trade group Alternative Reference Rates Committee has introduced guidelines, backed by the Federal Reserve, for participants to use another reference rate.

 
May 15, 2019 12:30 PM

GSEs Can End Oversight Without Congress Approval: FHFA

Fannie Mae and Freddie Mac can be freed from government oversight even if Congress doesn’t pass a housing-financial overhaul involving the government-sponsored enterprises, the Federal Housing Finance Agency Director, Mark Calabria, told Bloomberg May 8. He noted that Congress will get at least an entire session to act.

 
May 15, 2019 12:30 PM

Rural Communities Likely to Continue Declining, Data Shows

Rural areas, which comprise 42 percent of the nation’s counties, suffered significant population and job losses due to the Great Recession and likely won’t recover, leaving their housing and commercial bases to struggle, according to Commerce Department data, CityLab reported May 7. Communities in the Northeast and the Midwest were hardest hit.

 
May 15, 2019 12:30 PM

US Office Sector Steady During First Quarter, Bodes Well for New Construction: JLL

The U.S. office sector proved resilient during the first quarter, absorbing around 14 million square feet — even after the delivery of 6.8 million square feet of newly constructed space, according to real estate firm JLL, National Real Estate Investor reported May 9. An additional 110.4 million square feet of office space is under construction.

 
May 08, 2019 12:30 PM

Generation Z May Revive Shopping Malls, ICSC Study Says

Generation Z may save the mall, according to a study from the International Council of Shopping Centers, Bloomberg reported April 25. Gen Z (those aged 7 to 22) prefer shopping in-store rather than online, and about 95% visited a mall during a three-month period in 2018 as opposed to 75% of millennials and only 58% of Generation X.

 
May 08, 2019 12:30 PM

Rockefeller Center to Add 200 Guest Rooms in Airbnb Deal

Airbnb and real estate firm RXR Realty announced on April 29 a deal to convert 10 stories in New York City’s iconic Rockefeller Plaza to short-term rental units, Bloomberg reported. The project will create 200 suites inside the art deco high-rise, as well as meeting and events spaces, collaborative working spaces, a restaurant and a lobby bar.

 
May 08, 2019 12:30 PM

Hospitality Properties in the South, West Show Strong Fundamentals: Marcus & Millichap

Hospitality properties in the south and west are outperforming those in other U.S. markets, and attracting investment dollars thanks to growth in revenue per room and occupancy rates, according to real estate firm Marcus & Millichap, National Real Estate Investor reported April 29. Texas is expected to add the most hotel rooms this year.

 
May 01, 2019 12:30 PM

Retail, Office Net Lease Cap Rates Rise: Boulder Group

Cap rates on net lease retail properties increased 2 basis points in the first quarter to 6.37 percent while cap rates on net lease office assets jumped 8 basis points to 7.1 percent, according to The Boulder Group investment firm, National Real Estate Investor reported April 22.

 
May 01, 2019 12:30 PM

Outlet Centers Bring Stability to Otherwise Shaky Retail Sector, Consulting Firm Reports

Outlet centers remain a bright spot in the retail sector, according to consulting company Outlet Resource Group, National Real Estate Investor reported April 25. There are roughly 200 outlet centers in the U.S., with an average vacancy rate of 3.6%, compared to 1,100 regional and superregional malls with an average vacancy rate of 9%.

 
May 01, 2019 12:30 AM

Housing Could Be Hurt by "Underbuilding," Data Shows

The housing market — especially the entry-level segment — could stumble this year due to “underbuilding,” a situation exacerbated by rising materials costs, tariffs on imported materials and labor shortages, according to consulting firm Grant Thornton, HousingWire reported April 19. Housing starts and household formation analytics suggest the worst underbuilding since the 1970s.

 
Apr 24, 2019 12:30 PM

Homebuyers Will Pay Extra for Energy Efficiency: NAHB

Homebuyers are willing to pay an average of $8,728 extra for a property in order to save $1,000 a year in utility bills, according to a report released April 12 by the National Association of Home Builders. Buyers who expect to pay more than $500,000 for a property are willing to pay an average of $10,560 for energy efficient features.

 
Apr 24, 2019 12:30 PM

New FHFA Director to Focus on Fannie, Freddie Overhaul

Federal Housing Finance Agency Director Mark Calabria said April 15 that he assumes the job with a “great sense of urgency” to address government control of Fannie Mae and Freddie Mac, Bloomberg reported. The government-sponsored enterprises have returned to profitability, but remain in conservatorship. ​

 
Apr 24, 2019 12:30 PM

Commercial Real Estate Investment to Perform Worse in 2019, Research Predicts

Investors believe that the private equity real estate investment sector will perform worse in 2019 than it did in 2018, and portfolio/asset pricing will increase over the next 12 months, which could result in a slowdown period, according to research firm Prequin, National Real Estate Investor reported April 17.

 
Apr 17, 2019 12:30 PM

Fed Says More Rate Hikes Possible If Economy Improves

The Federal Reserve’s Federal Open Market Committee voted against a rate increase at its April 10 meeting, but minutes indicate that they would consider such a move if the economy steadily improves, CNBC reported. Any future rate hike isn’t expected until at least 2020.

 
Apr 17, 2019 12:30 PM

Proposed Rules for Foreign Banks Favorable, Fed Indicates

The Federal Reserve on April 8 proposed new rules for foreign banks that would categorize the institutions based on risk to the financial system, MarketWatch reported. The new requirements would separate liquidity rules from capitalized subsidiaries for the institutions, boosting liquidity thresholds by as much as 4%.

 
Apr 17, 2019 12:30 PM

Industrial Sector Still Favorable to Investors, Despite Global Uncertainty: Colliers

Investors still view the industrial sector favorably, despite labor shortages and global trade tensions — ongoing trade talks between the U.S. and China could greatly reduce demand for industrial real estate if no deal is reached, according to real estate services firm Colliers International, National Real Estate Investor reported April 8.

 
Apr 10, 2019 12:30 PM

Mortgage Environment "Desperately" Needs Reform: Chase CEO

JPMorgan Chase CEO Jamie Dimon stated in his annual shareholder letter that the U.S. housing market “desperately” needs reform and believes that at least $1 trillion in mortgages could have been made — but were not, HousingWire reported April 4. Dimon said the lending environment is too conservative, and reforms could help economic growth.

 
Apr 10, 2019 12:30 PM

BofA to Boost Homeownership, Offer up to $10K to Close Loans

Bank of America has pledged up to $5 billion to boost affordable housing, including offering up to $10,000 to help borrowers close loans, HousingWire reported April 2. The lender further committed another $5 billion over the next five years for its Neighborhood Solutions program to boost homeownership rates.

 
Apr 10, 2019 12:30 PM

Fitch Sees Problems as Small Banks Increase CRE Lending and Big Banks Pull Back

Small banks are gaining market share in commercial real estate lending as big banks pull back, which could be problematic during a downturn because smaller banks (those with assets of $10 billion to $100 billion) may be unable to absorb real estate losses, according to ratings agency Fitch, MBA NewsLink reported April 4.

 
Apr 03, 2019 12:30 PM

SBA Releases Updated Appraisal Policy, Adds Evaluations

The Small Business Administration issued revised guidance March 26 stating an appraisal may still be needed to evaluate the creditworthiness of commercial real estate loans below $500,000. New legislation aligns SBA regulations with those of the federal bank regulatory agencies, which eliminated the appraisal requirement for commercial loans below the half-million-dollar threshold.

 
Apr 03, 2019 12:30 PM

Trump: End Fannie Mae and Freddie Mac Conservatorship

President Trump has officially called for an end to the conservatorship of Fannie Mae and Freddie Mac, seeking “overdue reform of the housing finance system,” according to a March 27 White House statement, HousingWire reported. Instead, Trump wants greater regulatory oversight of the government-sponsored enterprises and more private-sector competition.

 
Apr 03, 2019 10:27 AM

FHFA Reports Almost 4.3 Million Foreclosure Preventions Resulted from Conservatorship

Fannie Mae and Freddie Mac have completed nearly 4.3 million foreclosure prevention actions since they were put into conservatorship in September 2008, the Federal Housing Finance Agency announced March 21 in its 2018 Foreclosure Prevention Report.

 
Mar 27, 2019 12:30 PM

Cap Rates to Remain Steady Through June, Experts Predict

The commercial real estate market should experience generally steady cap rates through June — although a few segments (office, high-end multifamily) could experience some volatility, according to experts from several real estate firms, National Real Estate Investor reported March 15.

 
Mar 27, 2019 12:30 PM

CRE Sector Expected to Stay Strong: Cushman & Wakefield

The commercial real estate sector was “very robust” last year due to significant merger and acquisition activity, and things are expected to continue apace this year because of positive investment interest, favorable monetary policy and cycle maturity, according to real estate firm Cushman & Wakefield, MBA NewsLink reported March 21.

 
Mar 27, 2019 12:30 PM

JLL to Acquire HFF, Become Largest US Commercial Real Estate Debt Practice: Report

Commercial real estate firm JLL announced March 19 that it will acquire fellow commercial real estate firm HFF for approximately $2 billion, a deal that likely will close in the third quarter and create the nation’s largest commercial real estate debt practice, the Commercial Observer reported.

 
Mar 20, 2019 12:30 PM

Enhanced Appraisal Review Drops Refinance Risk: Data Shows

An enhanced appraisal review process has reduced default risk in mortgage refinancing, making these loans less risky to lenders than before the financial crisis — but still riskier than purchase mortgage loans, the Urban Institute reported March 7 after performing an analysis of data from Fannie Mae and Freddie Mac.

 
Mar 20, 2019 12:30 PM

Multifamily Market Expected to Stay Strong, Research Reveals

The multifamily market is expected to remain strong as consumers continue to show a preference for renting for various financial and socioeconomic reasons, including student debt that puts homebuying out of reach of many young consumers, according to investment research group Clarion Partners, National Real Estate Investor reported March 12.

 
Mar 20, 2019 12:30 PM

Hotel Investment to Remain Steady and Strong in the US and Abroad, JLL Projects

https://www.mba.org/cmf-newslinks/2019/march/mba-cmf-newslink-3-14-19/news-and-trends/cautious-yet-c​onfident-hotel-sector​

 
Mar 13, 2019 12:30 PM

AI Professionals Asked to Comment on Big Box Guide Note

The Appraisal Institute’s Professional Standards and Guidance Committee is seeking comments from AI professionals on its proposed Guide Note related to methodology for valuing the fee simple estate, including “big box” retail properties. Comments are due April 15.

 
Mar 13, 2019 12:30 PM

Housing Groups Ask the FHFA to Go Easy on GSE Reforms

Twenty-four housing industry organizations on March 6 sent a letter to the Federal Housing Finance Agency encouraging it to end conservatorship of Fannie Mae and Freddie Mac in order to protect the safety and soundness of the market, but to proceed slowly and to prioritize affordable housing, HousingWire reported.

 
Mar 13, 2019 12:30 PM

Consumer Financial Protection Bureau Issues Rulemaking Notice on PACE Financing

The Consumer Financial Protection Bureau is seeking comments on its residential Property Assessed Clean Energy financing regulations and released on March 4 an Advance Notice of Proposed Rulemaking. Comments are due May 3. PACE allows homeowners to obtain financing to make improvements that increase energy efficiency.

 
Mar 06, 2019 12:30 PM

AI, Freddie Mac to Teach Valuation of Manufactured Homes

The Appraisal Institute and Freddie Mac on March 5 announced a partnership targeted to help real estate appraisers when valuing manufactured housing. The partnership will provide practical appraisal training to all appraisers, as well as specifically targeted training and case studies to address manufactured housing valuation assignments for Freddie Mac’s CHOICEHome.

 
Mar 06, 2019 12:30 PM

Economists Predict Recession by 2021: National Association for Business Economics

Three-quarters of economists responding to a survey from the National Association for Business Economics believe that a recession will take place by the end of 2021, HousingWire reported Feb. 26. The economists said they generally favor current economic policy, but expect diminishing returns on existing deregulation and tax initiatives.

 

Court Denies Louisiana Appraisers Board Petition for Review

The United States Court of Appeals for the 5th Circuit dismissed on Feb. 28 the Louisiana Real Estate Appraisers Board’s petition for review of a Federal Trade Commission decision that disallowed the LREAB from asserting its state-action immunity defense in ongoing administrative proceedings. The court ruled that it did not have jurisdiction to consider the petition.

 
Feb 27, 2019 12:30 PM

No Hearing on Residential Appraisal Threshold Increase

The Appraisal Institute on Feb. 19 received notice from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency that a request for a hearing on the proposal to raise the residential appraisal threshold from $250,000 to $400,000 was denied.

 
Feb 27, 2019 12:30 PM

California Solar Rule Could Add $10K to New Home Prices

California will require solar panels on all new homes starting next year, and the mandate could increase property prices by $8,000 to $10,000 and hurt affordable housing, according to the California Energy Commission, CNBC reported Feb. 17. However, homeowners are expected to recoup costs through lower utility bills.

 
Feb 27, 2019 12:30 PM

Co-living Units Average Higher Rents, Net Incomes Than Regular Apartments: Report

Demand for co-living properties is high, with rental income averaging 44 percent more per square foot than conventional apartments in the same building, and average net operating incomes about 30 percent higher per square foot, even after accounting for the costs of amenities like Wi-Fi and housekeeping, National Real Estate Investor reported Feb. 19.

 
Feb 20, 2019 12:30 PM

CFPB Releases List of Rural and Underserved Counties

The Consumer Financial Protection Bureau on Feb. 12 released its 2019 list of rural and underserved counties, which those entities can use to determine if they are exempt from certain appraisal and ability-to-pay rules.

 
Feb 20, 2019 12:30 PM

Court Sides With Zillow, Affirms Zestimate not an Appraisal

The U.S. 7th Circuit Court of Appeals ruled Feb. 12 that Zillow is correctly marketing its Zestimate as an estimate and not an appraisal, GeekWire reported. A group of Illinois homeowners sued Zillow claiming that the Zestimate tool was marketed as being equivalent to an appraisal and was undervaluing their homes.

 
Feb 20, 2019 12:30 PM

Amazon Drops Plans for New Campus in New York City Following Local Criticism

Amazon announced Feb. 14 that it was scrapping plans for a headquarters campus in New York City following backlash from union leaders, activists and lawmakers, Reuters reported. Amazon would have received $3 billion in incentives for opening a site in Long Island City. The e-commerce giant had not made any land acquisitions.

 
Feb 13, 2019 12:30 PM

Tech Companies May Steal Business from Banks: Fannie Mae

More consumers are willing to trust their financial needs — including mortgage applications — to tech firms than to banks, Fannie Mae reported Feb. 5. Research showed that tech companies overall weren’t more trustworthy, just the ones consumers cited as their favorites, such as Amazon, Apple and Google. ​

 
Feb 13, 2019 12:30 PM

IRS Proposes "Safe Harbors" for Pass-through Deductions

The IRS on Feb. 4 released proposed safe harbor rules that clarify the types of rental real estate that qualify for an income deduction of up to 20 percent from pass-through entities, National Real Estate Investor reported. While the 2017 Tax Cuts and Jobs Act allows the deduction, confusion exists around eligibility and limitations.

 
Feb 13, 2019 12:30 PM

HUD Cites Mortgage Backing and New Finance Options Among 2018 Achievements

Nearly 669,000 single-family homebuyers found mortgage backing through the Federal Housing Administration last year, a highlight noted in the U.S. Department of Housing and Urban Development’s Year in Review report released Feb. 1. HUD also cited the introduction of new financing options for victims of natural disasters to rebuild or buy another home.

 
Feb 06, 2019 12:30 PM

AI Among Groups Opposing Actions by Federal Banking Agencies

The Appraisal Institute on Feb. 4 was one of six organizations signing a comment letter that “strongly opposed” a proposal from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency to raise the residential appraisal threshold from $250,000 to $400,000. ​

 
Feb 06, 2019 12:30 PM

Fed Promises Patience on Future Interest Rate Increases Due to Economic Outlook

Federal Reserve Chair Jerome Powell on Jan. 30 said the Fed would be patient before making any future interest rate increases because of uncertainty over the nation’s economy, Reuters reported. The Fed also dropped promises of further gradual rate hikes.

 
Jan 30, 2019 12:30 PM

FHFA Will Not Defend Its Structure, Constitutionality in Court

1/30/2019The Federal Housing Finance Agency determined its structure is unconstitutional and will no longer defend it in court, HousingWire reported Jan. 21. The FHFA asked the Court of Appeals for the Fifth Circuit to dismiss the case; the agency previously challenged the court’s ruling that the FHFA violates the Constitution’s separation of powers.

 
Jan 30, 2019 12:30 PM

Economic Growth Expected to Slow, Fannie Mae Reports

Economic growth this year is expected to slow to 2.2 percent, down from 3.1 percent last year, Fannie Mae reported Jan. 22 in its latest Economic and Housing Outlook. The housing market reportedly will stabilize as mortgage rates hold steady, allowing potential homebuyers to readjust after last year’s erratic interest rate environment.

 
Jan 30, 2019 12:30 PM

MBA Primer Addresses LIBOR Transition for Commercial and Multifamily Industries

The Mortgage Bankers Association on Jan. 24 published a primer on how the expiration of the London Interbank Offered Rate — known as LIBOR — at the end of 2021 will impact the commercial and multifamily finance industries. The primer identifies emerging issues and offers action items for those affected. ​

 
Jan 23, 2019 12:30 PM

AI Opposes Residential Appraisal Threshold Increase

The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers participated in bipartisan meetings with members of Congress Jan. 15, urging them to review a proposed increase to the residential appraisal threshold.

 
Jan 23, 2019 12:30 PM

Fed Beige Book Shows Steady Activity in Most Districts

Economic activity increased in most of the U.S., with eight of 12 Fed districts reporting modest to moderate growth, the Federal Reserve reported Jan. 16 in its newest Beige Book. Home sales and construction remained relatively steady, with high prices and low inventory limiting sales. Commercial activity also was largely steady.

 
Jan 23, 2019 12:30 PM

Multifamily Market is Expected to Have Another Favorable Year, Freddie Mac Reports

The multifamily market is expected to remain healthy this year, with rent growth and vacancies outperforming historical averages, Freddie Mac reported Jan. 14 in its Multifamily 2019 Outlook. Multifamily origination volume is projected to be a record $317 billion, which exceeds last year’s $305 billion in originations.

 
Jan 16, 2019 12:30 PM

Economic Growth Expected to Moderate Through 2020: ABA

The pace of economic growth is expected to moderate through 2020, the American Bankers Association reported Jan. 9, citing data from its Economic Advisory Committee. The forecast shows economic growth at 2.1 percent this year and 1.7 percent in 2020, which would make the current expansion the longest in U.S. history.

 
Jan 16, 2019 12:30 PM

New York City's Iconic Chrysler Building On the Market

Investors interested in New York City commercial real estate can purchase the 1.26-million-square-foot Chrysler Building, Reuters reported Jan. 9. The current owners purchased the Art Deco icon in 2008 for $800 million, and hope to recoup their costs. The building’s occupancy rate is around 80 percent, below the city average.

 
Jan 16, 2019 12:30 PM

Reis Office Market Report Shows Steady Sector, Higher Rents and Strong Absorption

Vacancy rates in the office sector held steady during the fourth quarter while asking rents increased and absorption was strong, according to analytics firm Reis, MBA NewsLink reported Jan. 10. Construction also was strong, with inventory growing by 10.4 million square feet, up from 8.9 million square feet during the third quarter.

 
Jan 09, 2019 12:30 PM

AI Seeks Public Hearing on Appraisal Threshold Increase

The Appraisal Institute and 15 other organizations submitted a letter Dec. 21 to the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency requesting that they hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000.

 
Jan 09, 2019 12:30 PM

Senate Passes SBA Bills Increasing Appraisal Threshold

The Senate passed two pieces of legislation Dec. 19 that link the Small Business Administration's appraisal threshold to the threshold for commercial real estate as established by the federal bank regulatory agencies. Identical legislation passed the House in September.

 
Jan 09, 2019 12:30 PM

FEMA Brings Back Flood Insurance Policies During Lingering Government Shutdown

The Federal Emergency Management Agency announced Jan. 4 that it will resume selling and renewing flood insurance policies, reversing its previous ruling that the National Flood Insurance Program couldn’t be renewed due to the government shutdown, HousingWire reported. Congress sought a three-month extension of the program, which FEMA initially rejected.

 
Dec 19, 2018 12:30 PM

Fannie Mae Issues Special Newsletter Focused on Rural Appraiser Concerns

Fannie Mae on Dec. 10 released a special Appraiser Update e-newsletter focused on rural appraising. The issue provides guidance on numerous issues affecting rural appraisers, including highest and best use, standards for comparable selection, data sources, adjustments and reconciliation.

 
Dec 19, 2018 12:30 PM

FHA Increases Loan Limits for 2019

The Federal Housing Administration on Dec. 14 announced new loan limits for 2019, with most of the country seeing increases. Effective Jan. 1, the new loan limit will increase to $314,827, up from $294,515 this year. In high-cost areas, the new loan limit will increase to $726,525, up from $679,650. ​

 
Dec 12, 2018 12:30 PM

Agencies Seek Comment on Residential Appraisal Threshold Proposal

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency announced Dec. 4 that they are seeking comment on a proposal to raise the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000.

 
Dec 12, 2018 12:30 PM

Some Economists See Looming Recession, but Goldman Sachs Says No

Goldman Sachs sees only a 30 percent chance of a recession by 2020, the opposite of what other economists have been predicting, HousingWire reported Dec. 4. Goldman Sachs noted the biggest concerns focus on tariffs, labor inflation and pressure on margins and higher rates.

 
Dec 12, 2018 12:30 PM

CRE in Urban Areas Benefits from Incentive Programs, State Agencies Say

Multifamily housing and commercial real estate in large urban areas are the primary beneficiaries of capital raised through Opportunity Zone incentive programs aimed at boosting investment in needy areas, according to the National Council of State Housing Agencies, MarketWatch reported Dec. 3.

 
Dec 05, 2018 12:30 PM

AI Joins 17 Groups Opposing Proposed Credit Union Administration Action

The Appraisal Institute on Dec. 4 joined 17 other organizations in strongly opposing the National Credit Union Administration’s proposal to quadruple – from $250,000 to $1 million – the appraisal threshold for non-residential loans. AI said the threshold increase would drastically increase the number of non-residential real estate loans that would not require an appraisal.

 
Dec 05, 2018 12:30 PM

AI and Land Trust Alliance Support Conservation Easement Legislation

The Appraisal Institute and the Land Trust Alliance co-signed a letter Nov. 29 urging congressional leaders to advance the Charitable Conservation Easement Program Integrity Act, which would help maintain the integrity of conservation easement donations by closing an apparent loophole related to abusive syndicated tax shelters.

 
Dec 05, 2018 12:30 PM

Massachusetts Supreme Court Rules on Applicability of Appraiser Bias

The Massachusetts Supreme Judicial Court on Nov. 26 ruled that the prohibition on appraiser bias contained in the Uniform Standards of Professional Appraisal Practice and the Appraisal Institute’s Code of Ethics and Certification Standard, or the appearance of bias, applies only to individuals and not to an appraiser’s employer.

 
Nov 28, 2018 12:30 PM

US Economy to Show Significant Drop Next Year, Goldman Sachs Predicts

Goldman Sachs expects the U.S. economy to slow in 2019, CNBC reported Nov. 19. The investment firm anticipates first quarter growth at 2.5 percent, but slowing to just 1.6 percent by the fourth quarter. However, the firm noted that the signs of a pending recession — overheating market and financial imbalances — haven’t materialized.

 
Nov 28, 2018 12:30 PM

FDIC Proposes 9 Percent Leverage Ratio for Basel III Exemption Limit

The Federal Deposit Insurance Corporation voted Nov. 20 to propose that community banks with a minimum leverage capital ratio of 9 percent automatically be deemed in compliance with mandated Basel III capital requirements of between 8 and 10 percent, ABA Banking Journal reported. FDIC also proposed exempting those institutions from complicated Basel III calculations.

 
Nov 28, 2018 12:30 PM

Multifamily Originations Down: MBA

Commercial and multifamily originations during the third quarter decreased 3 percent from the second quarter, with the greatest declines in the health care and retail sectors, according to the Mortgage Bankers Association, Mortgage Professional America reported Nov 20. Originations increased for multifamily and industrial properties.

 
Nov 21, 2018 12:30 PM

Appraisal Institute Encourages FHA to Strengthen HECM Appraisal Program

The Appraisal Institute on Nov. 20 submitted a letter to Federal Housing Administration Commissioner Brian Montgomery in response to the FHA’s requirement in certain situations of a second appraisal for its Home Equity Conversion Mortgage program, asking that the FHA reevaluate eligibility requirements for placement on the FHA Appraiser Roster.

 
Nov 21, 2018 12:30 PM

AI Strongly Rejects Proposed Residential Appraisal Threshold Increase

The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve on Nov. 20 released a proposal to increase the threshold at which residential home sales require an appraisal to $400,000 from $250,000.

 
Nov 21, 2018 12:30 PM

Banks Continue to Ease Lending Standards, But Fed Says Its Not Enough

Banks continued to ease lending standards on both residential and commercial real estate loans in the third quarter but overall demand for those products was weak, according to the Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices released Nov. 15, HousingWire reported. ​

 
Nov 14, 2018 12:30 PM

Divided US Government Not Expected to Generate Major CRE Legislation

With a Republican-controlled Senate and a Democrat-controlled House of Representatives, no significant commercial real estate-related legislation is expected to pass, according to a GlobeSt.com analysis reported Nov. 7. Among the issues expected to stall: additional deregulation, further loosening of Dodd-Frank and more tax changes.

 
Nov 14, 2018 12:30 PM

FHFA Sets 2019 Multifamily Lending Caps for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency announced Nov. 6 that the 2019 multifamily lending caps for Fannie Mae and Freddie Mac will remain virtually unchanged at $35 billion each. The caps are based on the FHFA’s estimates of next year’s multifamily originations market, which the agency anticipates will be relatively flat.

 
Nov 14, 2018 12:30 PM

Experts Say Co-working Space Wont Upend Office Sector or Threaten REITs

Shared workspace provider WeWork has 12.5 million square feet in its portfolio, but experts don’t see it and similar co-working firms as threats to real estate investment trusts because the firms don’t occupy enough space to replace traditional office landlords or long-term tenants, National Real Estate Investor reported Nov. 6.

 
Nov 07, 2018 12:30 PM

Weakening Housing Market Resembles 2006, Says Economist Robert Shiller

The S&P/Case-Shiller 20-city index released Oct. 31 showed that home price gains have moderated, with Robert Shiller saying the weakening market reminds him of 2006 before the bubble burst, MarketWatch reported. However, Shiller noted that he doesn’t expect a crisis as severe this time.

 
Nov 07, 2018 12:30 PM

Fed Proposes Varied Risk-based Supervisory Standards for Large Banks

The Federal Reserve on Oct. 31 unveiled its proposed plan for applying standards to banks with at least $100 billion in assets, ABA Banking Journal reported. The plan involves assessing institutional risk and then grouping banks into one of four newly created categories based on that risk.

 
Nov 07, 2018 12:30 PM

Institutional-quality CRE Returns, Cap Rates Drop, NCREIF Index Shows

Institutional-quality commercial real estate returned 1.67 percent in the third quarter, down from 1.81 percent the previous quarter, and cap rates fell to their lowest level in the index’s history, according to the National Council of Real Estate Investment Fiduciaries Property Index released Nov. 1, MBA NewsLink reported.

 
Oct 31, 2018 12:30 PM

Millennials Most Likely to Purchase a Haunted Home, Realtor.com Reveals

Millennials are most likely to purchase a haunted home — provided there are incentives, such as a good price, a desirable neighborhood or a large kitchen, Realtor.com reported Oct. 23. Eighteen percent of people said they would purchase a haunted home without any incentives, while 49 percent said no way, no how.

 
Oct 31, 2018 12:30 PM

Banks Say New FHA Appraisal Rule on HECMs Has Had Minor Impact

Lenders say the new Federal Housing Administration rule requiring a second appraisal for HECM loans have had minimal impact, with only about 15 percent of loans being flagged as possibly having an inflated property valuation, HousingWire reported Oct. 23. Lenders noted that they typically receive an answer within 24 hours.

 
Oct 31, 2018 12:30 PM

MBA Data Shows Multifamily Lending Reached New Record High Last Year

Multifamily lending last year reached a record $285 billion for buildings with five or more units — a 6 percent increase from the previous year, the Mortgage Bankers Association reported Oct. 25 in its annual multifamily lending market report. The top multifamily lenders were Wells Fargo, CBRE Capital Markets and JPMorgan Chase.

 
Oct 24, 2018 12:30 PM

Federal Agencies Release FAQs Clarifying Appraisal, Evaluation Rules

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation on Oct. 16 published answers to frequently asked questions about appraisals and evaluations for real estate transactions that are covered by the interagency appraisal rules.

 
Oct 24, 2018 12:30 PM

FHA Cites Appraisal Concerns Because of 'Technological Shortcomings'

“Technological shortcomings” are preventing the Federal Housing Administration from checking for mortgage defects on a number of loans, potentially leading to a rise in appraisal-related issues, the FHA commissioner told Mortgage Bankers Association conference attendees Oct. 15, HousingWire reported. The FHA previously identified “appraisal bias” issues with reverse mortgages.

 
Oct 24, 2018 12:30 PM

Report Shows Net Lease Cap Rates Increase, Expected to Remain Strong

Single-tenant net lease cap rates continued their upward trajectory, increasing 8 basis points during the third quarter, according real estate firm Calkain Companies, MBA NewsLink reported Oct. 18. The upward trajectory shows no sign of abating, with equilibrium between buyer and seller maintaining a robust net-lease market.

 
Oct 17, 2018 12:30 PM

US Commercial Real Estate Likely to Benefit from Revised NAFTA: CBRE

The likely replacement for the North American Free Trade Agreement is expected to increase the demand for U.S. commercial property, according to a special report from commercial real estate firm CBRE, MBA NewsLink reported Oct. 11. Industrial real estate should most benefit from the new trade agreement. ​

 
Oct 17, 2018 12:30 PM

Freddie Mac Offers Hurricane Michael Victims a Year of Mortgage Relief

Freddie Mac announced Oct. 10 that it will allow up to 12 months of mortgage forbearance for homeowners impacted by Hurricane Michael. The Category 4 storm was the third-most intense Atlantic hurricane ever to make landfall in the United States. Some analysts estimate property damage could cost the insurance industry up to $5 billion.

 
Oct 17, 2018 12:30 PM

A Recession is Possible, but Experts Say Housing Will Not Be the Cause

While the stock market remains volatile and another recession is possible, experts say that real estate likely won’t be the cause this time around, MarketWatch reported Oct. 10. Home prices have seen large gains in the last year, more renters are becoming buyers and builder confidence continues to increase. ​

 
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 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.”

 
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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