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Results: 1274 Articles found.
Nov 03, 2021 12:30 PM

Historic Low Cap Rates in Drug Store Sector, Data Reveals

Cap rates in the single-tenant drug store sector dropped 59 basis points during the third quarter to 5.8%, reaching a historic low, The Boulder Group reported Nov. 1 in its Q3 2021 Net Lease Drug Store report. Record-low cap rates for CVS (5.15%) and Walgreens (5.4%) primarily caused the decline.

 
Nov 03, 2021 12:30 PM

Living with Ghosts OK if Home Price is Right: Realtor.com

Almost one-third of consumers said they would be willing to live with a “friendly” ghost if that roommate concession enabled them to afford their dream home, an Oct. 26 Realtor.com survey revealed. Twenty percent of consumers said they would live in a home where a murder occurred, and another 17% said they would live in a haunted house.

 
Nov 03, 2021 12:30 PM

Broader Real Estate Sector to Recover, Hotels to Disappoint, ULI Forecast Predicts

Many U.S. real estate sectors are expected to recover to pre-pandemic levels by 2023, but the hotel sector likely will continue struggling, the Urban Land Institute revealed Oct. 27 in its Fall 2021 Real Estate Economic Forecast. The forecast noted that commercial real estate is in a strong position to build its way out of the pandemic and take the economy with it.

 
May 26, 2021 12:30 PM

IRS Rejects Developer-led Attempts to Expand 8,700 Opportunity Zone Boundaries

Despite developer efforts to have boundaries expanded for nearly 8,700 opportunity zones, the IRS said the zones are established and not subject to change, The Real Deal reported May 17. Both developers and investors sought to expand the areas where opportunity zone investments — and tax breaks — could be claimed after Census Bureau maps were updated.

 
Nov 25, 2020 12:30 PM

Federal Housing Finance Agency Finalizes Capital Rule for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency on Nov. 18 released its final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac. Key changes include reduced capital requirements for single-family mortgage exposures subject to COVID-19 forbearance, and an increased exposure level risk floor for single-family and multifamily mortgages to 20%.

 
Nov 25, 2020 12:30 PM

FHFA Raises 2021 Conforming Loan Limits for Fannie, Freddie

The Federal Housing Finance Agency on Nov. 24 announced that the maximum conforming loan limits for single-family mortgages acquired by Fannie Mae and Freddie Mac next year will be $548,250, a 7.5% increase from this year’s limit. In high-cost areas, where 115% of the median home value exceeds the baseline, the maximum loan limit will be $822,375.

 
Nov 25, 2020 12:30 PM

Agencies Maintain Appraisal Threshold for Smaller Loans

The Consumer Financial Protection Bureau, Office of the Comptroller of the Currency and the Federal Reserve Board announced Nov. 18 that the threshold for exempting loans from special appraisal requirements for higher-priced mortgages will remain at $27,200 next year. The threshold is based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. ​

 
Nov 24, 2020 08:05 AM

Winterize Your Home Now, Appraisal Institute Says

The nation’s largest professional association of real estate appraisers today advised homeowners that it’s beneficial to winterize their homes soon, before winter weather takes hold.

 
Nov 18, 2020 12:30 PM

Voters in Multiple States Approve Real Estate Legislation

Voters in several states approved real estate-related measures on Nov. 3, HousingWire reported. In California, eligible homeowners can transfer their tax assessments anywhere within the state, while in Florida, residents can transfer their homestead exemption from one property to another. In Georgia, Habitat for Humanity and similar groups are now exempt from paying taxes on certain properties under development.

 
Nov 18, 2020 12:30 PM

Report Shows Solid Grocery Store Sector, but Questions Long-term Performance

Grocery stores have benefitted from COVID-19 stay-at-home orders, but the sector faces challenges from increased online shopping, according to a report released Nov. 9 by consultant Bain & Company. The report noted that profits through 2030 could grow as little as 1.2%. Additionally, some landlords said they avoid having grocery stores anchor their shopping centers because they can hurt performance.​

 
Nov 17, 2020 12:30 PM

Industrial Sector Shows Some Signs of Weakness: Moodys

While the industrial sector is resilient, it likely won’t remain unscathed as a surge in COVID-19 cases could slow manufacturing, data firm Moody’s Analytics reported Nov. 11. The vacancy rate for industrial properties is expected to rise to 11.8% next year, and the sector is expected to see its biggest drop in effective rents in 10 years.

 
Nov 11, 2020 12:30 PM

Tech Sector Scales Back on Office Space, but Still Leads Leasing Activity: CBRE

The tech sector is driving the nation’s office-leasing activity, but even this sector is scaling back on office space — although only slightly, according to real estate firm CBRE, MBA NewsLink reported Nov 4. Tech markets best positioned for resiliency include Atlanta; Dallas-Fort Worth; Raleigh-Durham in North Carolina; San Diego; Silicon Valley in California; and Washington, D.C.

 
Nov 11, 2020 12:30 PM

CRE Prices Up Overall During Q3: Real Capital Analytics

Commercial real estate prices increased at a 1.4% annualized rate during the third quarter, with gains in the apartment and industrial sectors offsetting declines in the retail and office sectors, according to data firm Real Capital Analytics, MBA NewsLink reported Nov. 4. The industrial sector is the most stable, with price growth in the mid-7% range.

 
Nov 11, 2020 12:30 PM

Real Estate Economists See Short Recession, Strong Recovery

Real estate economists surveyed by the Urban Land Institute for its Real Estate Economic Forecast said they expect a recession to be short-lived and foresee above-average GDP growth in 2021 and 2022, MBA NewsLink reported Nov. 9. Real estate conditions should be better than what was predicted six months ago, with the industrial and single-family residential sectors performing best.

 
Nov 04, 2020 12:30 PM

New Work Patterns Will Shrink Office Footprints, Increase Lease Flexibility: Survey

More than 60% of office workers are expected to work remotely within the next three to five years, which will increase the need for flexible office footprints and lease contracts, and spur the use of satellite offices at the edge of cities, according to the “Future of Work 2020: a Global Real Estate Players Point of View” survey released Oct. 29 by the Urban Land Institute.

 
Nov 04, 2020 12:30 PM

CRE Experts See Poor Conditions for next 12 Months: NAIOP

Commercial real estate professionals expect unfavorable conditions for the sector during the next year, according to the NAIOP Sentiment Index for September released Oct. 26. Respondents were particularly concerned about occupancy rates, face rents, effective rents and employment. They were less concerned about construction costs and the availability of financing.

 
Nov 04, 2020 12:30 PM

Cap Rates Rise for Single-tenant Drug Stores, Data Shows

Cap rates for the single-tenant drug store sector jumped to 6.39% in the third quarter, up 17 basis points from one year ago, according to The Net Lease Drug Store Report released Nov. 1 by real estate services firm The Boulder Group. Cap rates for Rite Aid and Walgreen’s increased 19 and 15 basis points, respectively.

 
Oct 28, 2020 12:30 PM

US Commercial Real Estate Prices Inch Up in Third Quarter: Real Capital Analytics

Commercial real estate prices in the U.S. ticked up 1.4% during the third quarter, but investment volume was down 57% from a year ago, according to data firm Real Capital Analytics, National Real Estate Investor reported Oct. 21. The bright spots: industrial property prices increased 7.4% annually while apartment prices grew 6.7%.

 
Oct 28, 2020 12:30 PM

Young Americans Say Election Could Spur Move: Realtor.com

Forty-eight percent of Americans between the ages of 18 and 34 would consider moving to be surrounded by like-minded individuals if their preferred candidate loses the presidential election, according to a Realtor.com survey released Oct. 21. Across all age groups, only 20% of respondents said they’re considering such a move.

 
Oct 28, 2020 12:30 PM

Election Will Not Change ROI On CRE Investments: Report

Regardless of who wins the presidential election, long-term returns on commercial real estate investments aren’t expected to be affected, according to a report released Oct. 20 by real estate firm Cushman & Wakefield, Commercial Observer reported. The report noted that investment returns have been positive under both Republican and Democratic administrations since the late 1970s.

 
Oct 20, 2020 12:30 PM

Retail Sector Continues to Struggle Even as US Economy Improves: Wells Fargo

The vacancy rate in the retail sector jumped to 4.8% during the second quarter, marking its highest level since 2016, and asking rents fell for the first time since 2013, down 0.3% from the previous quarter, according to the Retail After the Pandemic report released Oct. 13 by Wells Fargo Securities, MBA NewsLink reported.

 
Oct 20, 2020 12:30 PM

Mall Conversions Reduce Property Values: Barclays

Hundreds of the nation’s roughly 1,100 malls are expected to close in the next few years, but converting the properties for other uses, such as fulfillment centers, apartments, schools or medical offices, could reduce their property values anywhere from 60% to 90%, according to a report from financial firm Barclays, CNBC reported Oct. 15.

 
Oct 20, 2020 12:30 PM

Banks Reduce FHA Loans as Delinquencies Skyrocket: Report

A record 15.7% of FHA borrowers were behind on their mortgages as of mid-2020, according to the Mortgage Bankers Association, and that has caused some lenders to tighten credit standards and restrict loan availability, Bankrate.com reported Oct. 14. During the same period, only 6.7% of borrowers with conventional loans were late with their payments.

 
Oct 14, 2020 12:30 PM

Commercial Deals, Rent Relief Requests on the Rise: NAOIP

More deals were struck in the industrial, office and multifamily sectors in September than in August, but building owners and managers also saw an increase in rent relief requests, NAOIP revealed Oct. 2 in its monthly survey on the effects of the coronavirus pandemic on commercial real estate. Only 74.1% of respondents reported on-time rent collections in September, compared with 83.4% in August.

 
Oct 14, 2020 12:30 PM

US Economic Outlook Depends on Spread of COVID-19: Fed

The U.S. economic outlook is still uncertain and depends on controlling the spread of the coronavirus, Federal Reserve Chair Jerome Powell told attendees at the National Association for Business Economics annual meeting Oct. 6, ABA Banking Journal reported. Powell warned that a long period of slow economic progress could worsen current disparities in the economy.

 
Oct 13, 2020 12:30 PM

Student Housing Deals Stymied by Campus Closings, But Sector Looks Strong: Colliers

Investment in student housing properties has slowed considerably since the coronavirus has affected in-person education, but many properties are fully-leased — if not occupied — and continue to generate income, according to real estate firm Colliers International, National Real Estate Investor reported Oct. 6. Top-tier assets are commanding prices commensurate with what they would receive before the lockdown.

 
Oct 06, 2020 12:30 PM

Life Insurers to Face Loan Losses 50% Higher Than During Financial Crisis: Fitch

Life insurers in the U.S. are expecting their losses on commercial real estate loans to be 50% higher than they were during the 2007-08 financial crisis, according to the U.S. Life Insurers’ Mortgage Update released Oct. 1 by ratings agency Fitch Ratings, Commercial Property Executive reported. The report said losses could extend into 2021 because of regulatory forbearance actions.

 
Oct 06, 2020 12:30 PM

Retail, Office and Industrial Cap Rates at New Lows: Report

Cap rates in the single-tenant, net lease retail, office and industrial sectors reached record lows during the third quarter, down 19, 10 and 11 basis points, respectively, from the second quarter, real estate firm The Boulder Group reported Oct. 2 in its Q3 Net Lease Market Report. The drop is mainly due to the Fed’s announcement that interest rates will remain near zero at least through 2023.

 
Oct 06, 2020 12:30 PM

Hotel, Retail Appraisals Show "Atrocious" Loss in Value: Data

An analysis of appraisals for 116 hospitality and retail properties conducted by lender Wells Fargo showed an “atrocious” loss in values, dropping about 27% since the loans were originated, PhillyNow reported Oct. 1. The appraisals show how some sectors have suffered under COVID-19 restrictions, and even as they ease, the public is reluctant to travel and spend money.

 
Sep 30, 2020 12:30 PM

Homebuyers are Flocking to Affordable Counties Just Outside Major Metros: Redfin

El Dorado Country in California, near Sacramento and the Bay Area, is the nation’s hottest market as homebuyers seek more affordable areas outside of major metros but still within driving distance of them, real estate marketplace Redfin reported Sept. 21. Homebuyer interest is also heating up in Camden County, New Jersey, and Columbia Country, Oregon.

 
Sep 30, 2020 12:30 PM

Sales of Existing Homes at Highest Level Since 2006: NAR

The sales of existing homes climbed for the third consecutive month in August, reaching the highest level since December 2006, the National Association of Realtors reported Sept. 22. Home sales are expected to continue their upward trajectory through the end of the year.

 
Sep 30, 2020 12:30 PM

Home Values, Owner Equity Up in Q2: Federal Reserve

The aggregate value of the nation’s residential mortgages at the end of the second quarter was $10.6 trillion, an $80 billion increase from the first quarter, according to the Q2 Federal Reserve Flow of Funds report released Sept. 21, the National Association of Home Builders reported. The aggregate value of household market values reached $30.8 trillion, an increase of $450 billion.

 
Sep 23, 2020 12:30 PM

GSEs Need Help Recovering Funds From COVID-19 Relief ProgramS

Government-sponsored enterprises Fannie Mae and Freddie Mac may face insolvency if they can’t recover some costs connected to their COVID-19 mortgage relief programs, Federal Housing Finance Agency Director Mark Calabria told lawmakers Sept. 16, ABA Banking Journal reported. Calabria said the GSEs would recover some fees through the controversial adverse market fee, which would apply to certain mortgage refinance transactions.

 
Sep 22, 2020 12:30 PM

Housing Factors into Improved Economic Forecast: Fannie Mae

The full-year 2020 real GDP is forecast to contract by only 2.6%, down from the previous month’s forecast of 3.1%, Fannie Mae’s Economic and Strategic Research Group reported Sept. 15. The pace of existing home sales, which increased in July to a level not seen since 2006, was cited as one of the main reasons for the improved forecast.

 
Sep 22, 2020 12:30 PM

Most Cities Not Seeing "Mass Exodus" Due to COVID-19: Data

Reports about the COVID-19 pandemic causing a mass exodus from major cities are generally unfounded, with most states seeing fewer people moving between March 11 and June 30 this year than last year, according to data from moving company platform Hire A Helper, Bloomberg reported Sept. 16. Those who did leave big cities relocated to other large metros.

 
Sep 16, 2020 12:30 PM

Hotel Firm Works with Facebook to Develop Property, Expects More Business Travel

Banking on the return of business travel, the lodging firm CitizenM signed a deal with Facebook to open a 240-room hotel adjacent to the tech giant’s campus in Menlo Park, California, National Real Estate Investor reported Sept. 4. CitizenM, which targets cities with significant tech and financial firms, is also planning properties in Seattle, Boston and San Francisco.

 
Sep 16, 2020 12:30 PM

HUD Finalizes Revised Rule for "Disparate Impact" Claims

The U.S. Department of Housing and Urban Development on Sept. 4 finalized its revised standard for bringing “disparate impact” claims under the Fair Housing Act, ABA Banking Journal reported. The final HUD rule now is aligned with the Supreme Court’s 2015 decision in Texas Department of Housing and Community Affairs vs. Inclusive Communities Project.

 
Sep 10, 2020 08:00 AM

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

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

 
Sep 09, 2020 12:30 PM

California Legislation Clarifies Status of Appraisers as Independent Contractors

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

 
Sep 09, 2020 12:30 PM

AI Releases New Edition of Leading Appraiser Textbook

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

 
Sep 09, 2020 12:30 PM

AI Project Team to Review VP Election Process, Seeks Input

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

 
Sep 02, 2020 12:30 PM

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

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

 
Sep 02, 2020 12:30 PM

All US Homes Have Flood Risk Scores; Results Are Alarming

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

 
Sep 02, 2020 12:30 PM

GSEs Maintain Appraisal Flexibilities, Forbearance Purchases

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

 
Aug 26, 2020 12:30 PM

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

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

 
Aug 26, 2020 12:30 PM

FHA Unveils Tech Module for Single-family Appraisals

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

 
Aug 26, 2020 12:30 PM

AI Seeks to Work with TAF on Alleged Bias in Valuation

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

 
Aug 19, 2020 12:30 PM

Investors Stay Clear of Commercial Property Deals During Second Quarter: CoStar Group

Transaction volumes for commercial properties remained depressed during the second quarter as investors continued to pull back, according to analytics firm CoStar Group, Mortgage Professional America reported Aug. 10. Deals for the second quarter could be down as much as 70% compared to the same point a year ago.

 
Aug 19, 2020 12:30 PM

Confidence in Survival Doubles Among Small Business Owners

Sixty-four percent of small business owners are confident they can survive under current economic conditions compared with only 34% who felt confident in April, according to the Q3 CNBC/Survey Monkey Small Business Survey, CNBC reported Aug. 11. Government relief efforts, community support and technology were cited as key reasons for the renewed optimism.

 
Aug 19, 2020 12:30 PM

Ability to Repay Commercial Mortgages Often Overstated: Data

Many commercial mortgage borrowers are struggling to make loan payments, but the coronavirus pandemic is only partly to blame; aggressive lending practices may have overstated borrowers’ ability to repay in 28% of the nearly 40,000 commercial mortgage loans originated between 2013-2019 and totaling $650 billion, according to a University of Texas at Austin study, research firm SSRN reported Aug. 10.

 
Aug 12, 2020 12:30 PM

Multifamily Fundamentals to Slow for Remainder of the Year and Into 2021: Freddie Mac

The multifamily sector is expected to slow through the end of the year and possibly into next year, with rents decreasing 1.2% to 1.7% and vacancy rates rising as high as 7.2%, Freddie Mac reported July 31 in its Midyear Outlook Report. Freddie also noted that multifamily origination volume could plummet 20% to 40% by the end of the year.

 
Aug 12, 2020 12:30 PM

Banks Tightened CRE Loan Standards in Q2: Fed Survey

Lenders tightened their standards on commercial and industrial business loans to firms of all sizes amid weaker demand during the second quarter, the Federal Reserve reported Aug. 3 in its newest Senior Loan Officer Opinion Survey. The tightened standards and reduced demand also applied to construction and land development loans, nonfarm residential loans and multifamily loans.

 
Aug 12, 2020 12:30 PM

CRE Recovery on the Horizon, According to CBRE Report

Commercial real estate is expected to recover slower than the overall economy, but most sectors should see gains later this year and through next year, according to the Global Real Estate Market Outlook 2020 Mid-Year Review from real estate firm CBRE, National Real Estate Investor reported Aug 4. The industrial and multifamily sectors are expected to see the fastest recoveries.

 
Aug 05, 2020 12:30 PM

Investors See New Risk in Net-lease Properties, Expect Cap Rates to Rise: Poll

Commercial real estate investors anticipate net-lease properties to become generally riskier and expect cap rates to rise because of the ongoing coronavirus pandemic, according to a poll from brokerage firm The Boulder Group, CoStar reported July 23. Forty-three percent of respondents think cap rates could rise up to 19 basis points, while 37% said they may go even higher.

 
Aug 05, 2020 12:30 PM

Federal Reserve Extends Lending Facilities Until Year-end

The Federal Reserve will extend several of its lending facilities through the end of the year due to concerns about how quickly the U.S. economy will recover from the coronavirus pandemic, Reuters reported July 28. The extensions were set to expire Sept. 30, but the Fed wants to maintain credit availability for businesses and consumers.

 
Aug 05, 2020 12:30 PM

Fannie Mae, Freddie Mac Update Appraisal Guidance FAQ

Fannie Mae and Freddie Mac on July 29 released an updated FAQ document that provides temporary guidance to appraisers on several policy areas in response to the COVID-19 national emergency. The document updates guidance on the use of photos in reports for exterior-only appraisals and provides new guidance on UCC-1 financing statements and waivers for exterior-only or desktop appraisals.

 
Jul 29, 2020 12:30 PM

Office Net Absorption in Q2 Sees Largest Decline in 11 Years: Cushman & Wakefield

Office net absorption during the second quarter turned negative, falling from 5.2 million square feet during the first quarter to negative 22.8 million square feet during the second quarter, real estate firm Cushman & Wakefield reported July 23 in its U.S. Office MarketBeat report. The report noted that it was the largest quarterly decline since the Great Recession.

 
Jul 29, 2020 12:30 PM

Economic Recovery Ending, Another Slowdown Expected: JLL

The U.S. economy expanded in May and June, but by some measures it already is slowing down, according to data released July 20 by real estate firm JLL. Advance retail sales rose 7.5% between May and June, and industrial production jumped 5.4% during the same period, but consumer sentiment declined in July over fears of increasing COVID-19 cases.

 
Jul 29, 2020 12:30 PM

Commercial Appraisal Data Standards Released for Comment

The Mortgage Industry Standards Maintenance Organization, known as MISMO, on July 24 released for comment its proposed commercial appraisal data standards. The standards are intended to facilitate the exchange of commercial appraisal information, which is critical for underwriting and loss mitigation, between multiple industry participants. Comments are due Sept. 21.

 
Jul 21, 2020 12:30 PM

Big Banks Have Set Aside $28 Billion to Cover Pandemic-related Losses, Data Shows

JPMorgan Chase, Citigroup and Wells Fargo have so far collectively set aside $28 billion to cover an expected wave of consumer and business loan defaults, Morningstar reported July 15. The banks increased the amount they had previously set aside due to growing concerns about the length and severity of the coronavirus pandemic.

 
Jul 21, 2020 12:30 PM

Federal Reserve Expects Recession Despite Initial Optimism

Following initial optimism that the COVID-19 slump would be over after the second quarter, Fed policymakers are now preparing for a longer recession due to high unemployment and increased risk of corporate bankruptcies, Forbes reported July 14. A greater chance for a second wave of infections also is contributing to the Fed’s new stance.

 
Jul 21, 2020 12:30 PM

AI Urges Swift Passage of Appraisal Portal Legislation

The Appraisal Institute on July 9 sent a letter to Reps. David Kustoff, R-Tenn., and Ed Perlmutter, D-Colo., urging swift passage of HR 7688, the Portal for Appraisal Licensing Act of 2020. The legislation would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and appraisal management company registration information.

 
Jul 14, 2020 12:30 PM

Expert Says "Exodus" of Central Business Districts to Continue, But Rebound Expected

The residential “exodus” from city centers, led by millennials, is expected to last 18-24 months, the president and CEO of real estate advisory firm Marcus & Millichap told CNBC July 7. The demand for commercial space in the suburbs has also increased, but central business districts appear to be on a three-year recovery track.

 
Jul 14, 2020 12:30 PM

Legislation Extends Paycheck Protection Program Deadline

President Trump on July 4 signed legislation extending the deadline to Aug. 8 for small businesses to apply for assistance from the Paycheck Protection Program, National Public Radio reported. The fund has $130 billion remaining after $520 billion in loans was provided to nearly five million businesses.​

 
Jul 14, 2020 12:30 PM

Net Lease Cap Rates Vary During Q2: The Boulder Group

Net lease cap rates increased for the retail sector during the second quarter, but held steady for the office sector and dropped for the industrial sector, according to commercial real estate firm The Boulder Group, MBA NewsLink reported July 2. The firm reported that higher cap rates are anticipated in most sectors by the end of the year.

 
Jul 08, 2020 12:30 PM

Millions of Properties at Greater Flood Risk Than Previously Estimated, Data Reveals

The number of U.S. properties in danger of flooding this year is 70% higher than government data suggests, according to a study released June 29 by the nonprofit research group First Street Foundation. The data shows around 14.6 million properties are at risk of flooding, compared with Federal Emergency Management Agency data showing 8.7 million properties at risk.

 

COVID-19, Economy Top Real Estate Concerns: Report

The COVID-19 pandemic, economic renewal and capital market risk are among the biggest concerns affecting the real estate industry through next year, according to the Counselors of Real Estate, which released its list of the top 10 issues on June 25. Also on the list: public and private debt and affordable housing.

 
Jul 08, 2020 12:30 PM

Data Confirms Q2 CRE Downturn Due to Coronavirus

Commercial real estate executives confirmed a downturn in market conditions during the second quarter because of COVID-19-related job losses and business shutdowns, according to The Real Estate Roundtable’s 2020 Q2 Economic Sentiment Index released June 30. The index showed an expectation that the market will improve by next year, dependent on jobs and business data.

 
Jun 24, 2020 12:30 PM

CFOs Target More Real Estate Cuts This Year: Survey

Real estate expenses likely will be further reduced during the second half of the year because remote working appears to be here to stay, according to a survey of chief financial officers conducted by research firm Gartner, Forbes reported June 15. Real estate budgets already have been cut about 8% this year, and an additional 8% is anticipated.

 
Jun 24, 2020 12:30 PM

Economy and Housing are Recovering: Freddie Mac

An increase in homebuyer demand and a decrease in mortgage rates is expected to propel the housing sector forward this year, but the overall outlook is still uncertain due to concerns about the coronavirus and the nation’s fiscal policies, Freddie Mac reported June 16 in its Quarterly Forecast. Improvements in home price growth, sales and loan originations are expected next year.

 
Jun 24, 2020 12:30 AM

SBA Releases 2 New PPP Loan Forgiveness Applications for Qualified Borrowers

The U.S. Small Business Administration and the Department of the Treasury on June 17 issued two new Paycheck Protection Program loan forgiveness applications, a full version and an EZ version that requires less documentation for borrowers who meet certain conditions. Both versions give borrowers the option of using the original eight-week covered period or the extended 24-week period.

 

FHFA Extends Appraisal Loan Processing Flexibilities

The Federal Housing Finance Agency announced June 11 that it is extending until at least July 31 several loan origination flexibilities offered by Fannie Mae and Freddie Mac to assist borrowers during the ongoing COVID-19 pandemic. Alternative appraisals on purchase and rate term refinance loans are among the extended items.

 
Jun 17, 2020 12:30 PM

States Could See Double-digit Property Value Drops: Report

Alaska, Nevada, New Mexico, Oklahoma and Wyoming likely will be hardest-hit due to the coronavirus pandemic and could see double-digit drops in commercial property valuations, according to a report from data firm Reonomy, National Real Estate Investor reported June 8. The economies in those states are heavily dependent on the struggling travel, entertainment or energy sectors.

 
Jun 17, 2020 12:30 PM

Federal Reserve Plans to Keep Buying Assets and Hold Benchmark Rate Steady Until 2023

The Federal Reserve said it plans to continue purchasing Treasuries and mortgage-backed securities at its current weekly pace of around $22 billion in order to stimulate the economy, MarketWatch reported June 10. The Fed also said that it expects to maintain its benchmark interest rate until 2023.

 
Jun 10, 2020 12:30 PM

Industrial Sector Demand Grows Due to COVID-19-related E-commerce Boost: Report

The transition from bricks-and-mortar retail to online shopping has accelerated due to the coronavirus pandemic, with e-commerce growing at an annual rate of 20% and driving demand for as much as 400 million-square-feet of new industrial space, according to real estate firm Confluent Development, National Real Estate Investor reported June 1.

 
Jun 10, 2020 12:30 PM

US Economy Expected to Begin Recovery in Q3: ABA Forecast

The U.S. economy is expected to drop about 6% this year, but will start to recover in the third quarter, according to a forecast released by the American Bankers Association on May 29. Predicting a recovery is difficult, however, because consumers typically account for 70% of the U.S. economy, and it’s unknown when their normal activity will resume.

 
Jun 10, 2020 12:30 PM

7.4M Properties at Risk to Summer Storm Surge: CoreLogic

More than 7 million single-family homes and 250,000 multifamily residences along the Atlantic Seaboard and the Gulf Coast are at risk for storm damage this year, according to the Storm Surge Report from analytics firm CoreLogic, MBA NewsLink reported June 3. The reconstruction cost value could top $1.7 trillion for single-family homes and $95 billion for multifamily properties.

 
Jun 03, 2020 12:30 PM

Some CRE Sectors Were Suffering Before Coronavirus Made Things Worse: Moodys

A new report revealed that retail, office and apartment construction was down before the coronavirus pandemic made conditions even worse, according to data firm Moody’s Analytics, GlobeSt.com reported May 27. Retail construction in the first quarter was at a 20-year low, while office construction was down 85% and apartment construction was down 38%.

 
Jun 03, 2020 12:30 PM

San Jose, California, to Fare Best During Pandemic: Data

San Jose, California, tops the list of U.S. cities expected to best withstand the effects of the coronavirus, according to real estate investment firm Nuveen, GlobeSt.com reported May 27. Nashville, Tennessee, and Raleigh, North Carolina, also topped the list. However, Detroit and Louisville, Kentucky, were among cities expected to fare the worst.

 
Jun 03, 2020 12:30 PM

COVID-19 Less Damaging to CRE than Great Recession: ULI

Commercial real estate markets and property values are expected to be less affected by a COVID-19-related recession than they were by the Great Recession, with the exceptions being hospitality and retail, according an Urban Land Institute survey, GlobeSt.com reported May 26. The survey noted an expected $275 billion drop in real estate transaction volume this year.

 
May 27, 2020 12:30 PM

Mnuchin Says US Economy to "Bottom Out" in Q2, See "Gigantic Increase" in Q4

U.S. Treasury Secretary Steven Mnuchin told attendees of an online conference May 21 that he expects the nation’s economy to “bottom out” during the second quarter, but then experience a “gigantic increase” during the fourth quarter, Reuters reported. Mnuchin noted that a lower level of activity in one quarter increases the chances for activity in other quarters.

 
May 27, 2020 12:30 PM

FHFA Rereleases Proposed Capital Rule for Fannie, Freddie

The Federal Housing Finance Agency on May 20 announced that it is seeking comments on a notice of proposed rulemaking that sets a new regulatory capital framework for Fannie Mae and Freddie Mac. The proposed rule is a re-proposal of the rulemaking previously published in July 2018, and comments are due 60 days after the rule’s publication in the Federal Register.

 
May 27, 2020 12:30 PM

Fed Warns of "Substantial Repricing" for CRE Properties

Elevated valuation pressures on commercial real estate assets and a bleak outlook for the sector could cause “substantial repricing,” according to the Federal Reserve’s Financial Stability Report released May 18, GlobeSt.com reported. CRE prices were high before the pandemic, and disruptions in the hospitality and retail sectors, in particular, have been severe.

 
May 20, 2020 08:15 PM

FHFA Gives Homeowners in Forbearance Payment Options

The Federal Housing Finance Agency announced May 13 that homeowners who are in forbearance due to the coronavirus pandemic can defer repayment of their missed monthly mortgage payments until their home is sold or refinanced or at loan maturity. Servicers will begin extending the payment deferral option July 1.

 
May 20, 2020 12:15 PM

HUD Extends Appraisal Inspection Options Until June 30

The U.S. Department of Housing and Urban Development announced May 14 that it has extended the Federal Housing Administration’s single-family exterior-only or desktop-only appraisal inspection options until June 30, enabling appraisers to limit face-to-face contact during the coronavirus pandemic. The guidance is included in Mortgagee Letter 2020-14.

 
May 20, 2020 12:15 PM

CoStar to Acquire Ten-X Digital Commercial Real Estate Platform for $190 Million

Commercial real estate analytics firm CoStar Group announced May 13 that it will acquire digital commercial real estate transaction platform Ten-X for $190 million in cash, Business Wire reported. The Ten-X platform has transacted about $7 billion in retail properties, $6 billion in office properties, $4 billion in multifamily properties and $3 billion in hotel properties.

 
May 13, 2020 12:30 PM

Hospitality Sector Might Not Recover Until End of the Year - or Later, STR Reports

The hospitality sector is not expected to rebound until at least the fourth quarter as the coronavirus has basically halted all travel, according to hospitality analytics firm STR, Commercial Property Executive reported May 4. Through April, hotel occupancy was down 62.2% year-to-date, while the average daily room rate was down 42.9% and revenue per available room was down 78.4%.

 
May 12, 2020 12:30 PM

Fannie Allows Collateral Underwriter Instead of Field Reviews

Fannie Mae on May 5 issued a Lender Letter addressing updated appraisal policies, stating that Collateral Underwriter and other third-party tools can be used in lieu of field reviews on 10% of a random sample of loans. Further, remote online notarization was made effective for all loans, depending on the state, and will remain in effect until further notice.

 
May 06, 2020 12:30 PM

Removing 1 Million Homes from Flood Zones Could Save $1 Trillion: Government Report

The U.S. could save more than $1 trillion by removing a million homes from flood-prone locales and relocating residents to higher ground, according to a report from the Federal Emergency Management Agency and the U.S. Department of Housing and Urban Development, Scientific American reported April 27. The cost to buy and raze the properties is estimated at $180 billion.

 
May 06, 2020 12:30 PM

CFPB Issues Rule to Ease Access to Mortgage Financing

The Consumer Financial Protection Bureau on April 29 announced steps to make it easier for consumers who are facing financial emergencies due to COVID-19 to obtain mortgage financing. The bureau issued an interpretive rule to allow consumers the right to modify or waive certain required waiting periods under the TILA-RESPA Integrated Disclosure Rule and Regulation Z rescission rules.

 
May 06, 2020 12:30 PM

ECOA Valuations Rule Updated to Address Coronavirus

Creditors have flexibility regarding when they must provide appraisals to mortgage applicants, according to an updated Q&A on the Equal Credit Opportunity Act Valuations Rule released April 29 by the Consumer Financial Protection Bureau. Under ordinary circumstance, creditors are required to provide appraisals promptly upon completion or three business days prior to consummation of a transaction.

 
Apr 29, 2020 12:30 PM

SEC Proposes Rule for the Valuation of Fund Assets, Including Real Estate Holdings

The Securities and Exchange Commission on April 21 proposed a new rule that would establish a framework for the valuation of investment fund assets, including real estate, MarketScreener reported. The Commission last comprehensively addressed valuation practices in 1970. The comment period on the proposed rule closes July 21.

 
Apr 29, 2020 12:30 PM

Second Round of Small Business Funding Approved

President Trump on April 24 signed the Paycheck Protection Program and Health Care Enhancement Act, bipartisan legislation that provides $320 billion in additional funding for small businesses affected by the coronavirus pandemic. The Small Business Administration started accepting applications April 27, and already has approved more than 100,000 loans.

 
Apr 29, 2020 12:30 PM

Credit Unions Allow Appraisals to be Delayed 4 Months

The National Credit Union Administration will allow credit unions to postpone obtaining an appraisal for up to four months after a mortgage loan closes, HousingWire reported April 23. Federal banking regulators last week established a short-term policy that allows banks to defer completed appraisals for up to 120 days.

 
Apr 22, 2020 12:30 PM

CRE Developers, Investors Face Trouble Closing Deals During Pandemic: Financial Firm

An increasing number of commercial real estate deals and new construction projects are delayed due to rising borrowing costs and higher loan credit standards, according to real estate financial firm NorthMarq, Bisnow reported April 12. Most deals that had financing in place before the pandemic have closed, but many transactions without financing in place are being postponed.

 
Apr 22, 2020 12:30 PM

Small Business Loan Program Out of Money, Impasse is Preventing New Funds: Report

The Small Business Administration and the Treasury Department have exhausted the initial $349 billion earmarked for business loans as part of the Paycheck Protection Program — and political conflict has prevented allocation of further funding, The Hill reported April 16. The SBA further said that the $10 billion appropriated for Economic Injury Disaster Loans also is out of money.

 
Apr 22, 2020 12:30 PM

Longest Economic Expansion in US History Probably Over Due to COVID-19: Fannie Mae

The coronavirus has likely ended the longest economic expansion in U.S. history, according to an April 15 report from Fannie Mae’s Economic and Strategic Research Group. As consumers shelter in place and businesses indefinitely close, two consecutive quarters of negative growth in gross domestic product are expected, which is the common definition of a recession.

 
Apr 15, 2020 12:30 PM

GSEs Publish FAQs on Temporary Policies for Mortgage Originations, Appraisals

Fannie Mae and Freddie Mac on April 8 released frequently asked questions that provide additional guidance to lenders on temporary policies that support mortgage originations, appraisals and quality control during the coronavirus pandemic. The government-sponsored enterprises will update the document as new information is available.

 
Apr 15, 2020 12:30 PM

Appraisal Institute to Host Coronavirus Webinar with CRE Panel

The Appraisal Institute announced that its April 17 webinar will include a panel of leading commercial real estate appraisers who will address changing market conditions under coronavirus. The webinar can help investors, developers, financiers and other stakeholders understand buyer and seller reactions to the market and will address appraisers' short/long term considerations when evaluating property at this time.

 
Apr 15, 2020 12:30 PM

AI Guide Shows Appraisal Actions Allowed Under Coronavirus

The Appraisal Institute on April 9 released “Flexibilities Guide: Permissible Appraisal Requirements During COVID-19,” which helps residential appraisers navigate a multitude of reporting format allowances and requirements issued by Fannie Mae, Freddie Mac, the Federal Housing Administration, the Department of Veterans Affairs and the Rural Housing Service. It also suggests addenda language when appraisers are reporting third-party information.

 
Apr 08, 2020 12:30 PM

Appraisal Institute Addresses “Flawed” and “Inaccurate” White Paper on Fee Simple

“Conceptually flawed and factually inaccurate” is how the Appraisal Institute described the International Association of Assessing Officers’ white paper, “Setting the Record Straight on Fee Simple,” in its March 31 letter to the IAAO. AI cited inaccuracies and inconsistencies involving intended use/user, fee simple definition, body of knowledge guidance and in certain terms and conclusions.

 
Apr 08, 2020 12:30 PM

SBA Promotes Programs, Initiatives to Aid Business Owners

The Small Business Administration is promoting several programs and initiatives that were included in the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act, and are intended to assist businesses, including appraisal firms, the Appraisal Institute announced April 6. Among the programs are those for paycheck protection, EIDL loan advance, express bridge loans and debt relief.​

 
Apr 08, 2020 12:30 PM

AI Asks FHFA to Rethink Non-GSE Appraisal Requirements

The Appraisal Institute was one of four valuation organizations that urged the Federal Housing Finance Agency on April 6 to re-evaluate its current policies on interior and exterior inspection appraisals for refinance transactions not currently held by the government-sponsored enterprises.

 
Apr 01, 2020 12:30 PM

Coronavirus Like "Major Snowstorm," Not Economic Depression, Bernanke Believes

Former Federal Reserve Chairman Ben Bernanke thinks the effect of the economic slowdown caused by the coronavirus is akin to that of a “major snowstorm” rather than a depression, CNBC reported March 25. Bernanke cited the Great Depression lasting 12 years and being caused by monetary and financial problems, as opposed to a health crisis that should be short-lived.

 
Apr 01, 2020 12:30 PM

AI Asks Governors, Mayors for "Stay-at-Home" Exemptions

The Appraisal Institute joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavirus pandemic.

 
Apr 01, 2020 12:30 PM

GSEs, Agencies Issue Coronavirus Guidance for Appraisers

The government-sponsored enterprises, agencies and other policymakers have all issued valuation guidance since March 23 to help clarify how appraisers can perform their work during the coronavirus pandemic, and all new guidance is available on the Appraisal Institute’s coronavirus page.

 
Mar 25, 2020 12:30 PM

FHFA Says Proposed GSE Capital Rules Delayed Until Late May Due to Coronavirus

Federal Housing Finance Agency Director Mark Calabria announced March 18 that the release of the capital proposal for Fannie Mae and Freddie Mac will be delayed until the second half of May due to the coronavirus, HousingWire reported. Calabria said the efforts to combat the spread of the virus will complicate the feedback process.

 
Mar 25, 2020 12:30 PM

AI Webinar Helps Appraisers Face Coronavirus Challenges

The Appraisal Institute announced March 24 that its free 90-minute webinar covering the latest appraisal developments on the coronavirus (COVID-19) pandemic is now available on AI’s website and on its YouTube channel.

 
Mar 25, 2020 12:30 PM

GSEs Ease Appraisal, Employment Verification Standards

The Federal Housing Finance Agency announced March 23 that Fannie Mae and Freddie Mac will ease standards for both property appraisals and employment verification in an effort to facilitate liquidity in the mortgage marketplace during the coronavirus outbreak, HousingWire reported. Specifically, the FHFA said appraisal alternatives will be used to prevent appraisers from having to inspect a home’s interior.

 
Mar 18, 2020 12:30 PM

Commercial Real Estate Lenders Worried About Impact of FASB Rules on Borrowers

New rules from the Financial Accounting Standards Board that took effect in January have some commercial real estate lenders concerned about operational burdens and their possible impact on borrowers, National Real Estate Investor reported March 10. The new methodology requires lenders to calculate and recognize the lifetime expected loss of the loan at origination.

 
Mar 18, 2020 12:30 PM

AI Issues Coronavirus-related Direction for Appraisers

The Appraisal Institute issued guidance cultivated from its Professional Practice staff on March 16 to help AI professionals and other real estate valuers serve their clients during the rapidly evolving global coronavirus pandemic.

 
Mar 18, 2020 12:30 PM

Appraisal Institute Seeks Guidance from Policy Makers

The Appraisal Institute announced March 18 that it is aggressively engaging all primary appraisal policy makers to help guide appraisers during the coronavirus pandemic. AI expects some guidance to be released as early as this week about exterior-only and/or desktop appraisals for loans sold to Fannie Mae and Freddie Mac.

 
Mar 11, 2020 12:30 PM

Coronavirus Expected to Have Limited Impact on Most Commercial Real Estate: CBRE

Coronavirus isn’t expected to have a significant long-term effect on the commercial real estate sector, but the short-term impact likely will be focused on hospitality and retail in major cities, according to real estate firm CBRE, MBA NewsLink reported March 4. CBRE noted that effect on the office and multifamily sectors likely will be minimal.

 
Mar 11, 2020 12:30 PM

Supreme Court Expected to Weaken CFPB, Not Shutter It

The Supreme Court signaled its plans to weaken the Consumer Financial Protection Bureau, but not shutter the agency created in the wake of the financial crisis, CNBC reported March 3. The court heard oral arguments in a case questioning the agency’s constitutionality and the powers of its director.

 
Mar 11, 2020 12:30 PM

Buyers Overpaid $34B for Homes in Flood Plains: Research

At least 3.8 million homes in the U.S. are in flood plains and may be overvalued by $34 billion, according to research released March 2 by the National Bureau of Economic Research, Bloomberg reported. The research revealed that markets don’t incorporate risks from flooding and climate-related disasters.​

 
Mar 04, 2020 12:49 PM

Strong Investor Demand, Steady Economic Expansion to Stabilize Cap Rates: CBRE

Strong demand for commercial real estate from domestic and foreign investors as well as moderate economic growth should keep cap rates mostly stable, according to the North America Cap Rate Survey from real estate firm CBRE, MBA NewsLink reported Feb. 26. The survey predicted cap rate stability during the first half of the year across most property types.

 
Mar 04, 2020 12:30 PM

AI Opposes Call for More Appraisal Standards by Biden

Responding to presidential candidate Joe Biden’s call to “establish a national standard for housing appraisals,” the Appraisal Institute said March 2 that a new standard is “unnecessary … because one already exists.”

 
Mar 04, 2020 12:30 PM

HUD Seeks Feedback on Foreclosure, Appraisal Policies

The U.S. Department of Housing and Urban Development is seeking feedback by March 9 from mortgage servicers and others regarding a proposed set of foreclosure-sale policy improvements — including one that addresses a concern about appraisal policies used to set pricing parameters utilized in foreclosure sales, National Mortgage News reported Feb. 25.

 
Feb 26, 2020 12:30 PM

Commercial Real Estate Lending Environment Remains Favorable, According to CBRE

While the lending environment for commercial real estate was virtually unchanged between the third and fourth quarters, it was up 4.2% from the same point a year ago, according to commercial real estate firm CBRE, MBA NewsLink reported Feb. 19. Favorable capital markets are expected to support strong lending activity throughout the year.

 
Feb 26, 2020 12:30 PM

"Transformative" Demand for Life Science Properties: Report

The demand for lab space, diagnostic centers and healthcare facilities is expected to significantly increase within the next few years, and could reach “transformative” levels, according to the “Life Sciences 2020: The Future is Here” report from real estate firm Cushman & Wakefield, MBA NewsLink reported Feb. 19.

 
Feb 26, 2020 12:30 PM

Opportunity Zones Boost Median Home Prices, Data Shows

The median home price increased more than the national average in almost half of all opportunity zones between the fourth quarter 2018 and fourth quarter 2019, analytics firm ATTOM Data Solutions reported Feb. 20. Arizona, New Jersey, North Carolina, Ohio and Pennsylvania had the most zones with prices higher than the national average.

 
Feb 19, 2020 12:30 PM

Industrial and Logistics Sector is Expected to Stay Healthy: Cushman & Wakefield

The market for industrial and logistics real estate is forecast to be strong through 2021, according to commercial real estate firm Cushman & Wakefield, Material Handling & Logistics reported Feb. 10. Nearly 460 million square feet is expected to be absorbed, but new supply should surpass demand this year. Vacancy rates should stay around 5%.

 
Feb 19, 2020 12:30 PM

Fed Says Economy is Healthy as it Eyes Effect of Coronavirus

Federal Reserve Chair Jerome Powell addressed Congress Feb. 11 stating that the nation’s economy is healthy and in its 11th year of expansion — the longest in history, Reuters reported. Powell also defended the Fed’s plan to ease strains in the banking system and warned of a possible economic hit due to the coronavirus.

 
Feb 18, 2020 12:30 PM

AI Supports GAO Study of Valuation Safety and Soundness

The Appraisal Institute on Feb. 14 submitted a letter to the chairs of the House Financial Services Committee and the Subcommittee on Housing, Community Development and Insurance, thanking them for requesting that the Government Accountability Office study the implementation of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to protect homeowners from appraisal loopholes.

 
Feb 12, 2020 12:30 PM

White House May Require All Federal Architecture to be Classical Style: Report

The White House is considering rewriting the Guiding Principles for Federal Architecture, established in 1962, to require new federal government buildings and those undergoing renovation to adhere to a classical architectural style, Architectural Record reported Feb. 4. The White House said recent projects completed by the General Service Administration’s Design Excellence Program have “little aesthetic appeal.”

 
Feb 12, 2020 12:30 PM

Election Could Halt CRE Investor Activity, Report Predicts

The presidential election could cause the U.S. commercial real estate market to pause or drop after the second quarter, according to the National Investor Sentiment Report from analytics firm RCM/Lightbox, GlobeSt.com reported Feb. 6. Top threats to CRE investment activity include a wait-and-see approach until after the election and a significant change in economic conditions.

 
Feb 12, 2020 12:30 PM

WeWork Downfall Reportedly Most Threatens 3 Office Markets

The office markets in New York City, Los Angeles and San Francisco are at the biggest risk of being negatively impacted by the downfall of office sharing company WeWork, according to multiple real estate services firms, National Real Estate Investor reported Feb. 4. Between 2010 and 2019, WeWork became the nation’s fastest-growing office tenant.

 
Feb 06, 2020 12:30 PM

FHA Delays Launch of Electronic Appraisal Delivery System

The Federal Housing Administration announced Jan. 28 it is postponing changes to its Electronic Appraisal Delivery system Appraisal Logging Screen due to a lapse in appropriations. FHA also is delaying the Appraisal Case Transfer screen in FHA Connection and the start date for business-to-government appraisal logging and transfer connections to an undetermined future date.

 
Feb 05, 2020 12:30 PM

Retail Real Estate in Certain US Cities Gives Investors Incentive to Buy, Data Shows

Not all retail markets are experiencing doom and gloom, with experts citing limited new construction as a means for keeping vacancies in check and significant opportunity for investors in cities like Seattle; Houston; Denver; and Nashville, Tennessee, according to research firms Costar Group, Reis and Real Capital Analytics, National Real Estate Investor reported Jan. 29.

 
Feb 05, 2020 12:30 PM

Atari Launces Hotel Chain Offering Immersive Experiences

Video game developer Atari on Jan. 27 announced plans to launch a hotel chain, with construction on its first property expected to break ground this year in Phoenix, followed by additional hotels in Austin, Texas; Chicago; Denver; Las Vegas; San Jose, California; San Francisco; and Seattle. The Atari Hotels will offer immersive gaming experiences for all age groups.

 
Feb 04, 2020 12:30 PM

Rethinking Quantitative Easing is a Priority for the Fed

The Federal Reserve is rethinking its quantitative easing program because its bond portfolio is growing at a pace unseen since the early 2010s, when it acquired vast amounts of mortgage-back securities, Reuters reported Jan. 27. Prices for stocks and other risky assets also are rising, causing concern among former Fed officials, economists and investors.

 
Jan 29, 2020 12:30 PM

Brokers and Mortgage Bankers See Favorable CRE Capital Conditions, Survey Reveals

More than 90% of surveyed brokers and mortgage bankers said they expect the amount of capital available for commercial real estate deals to remain at or higher than last year, according to a survey conducted by CRE services firm Berkadia, MBA NewsLink reported Jan. 20. Additionally, 83% expect transaction volume at or higher than 2019 levels.

 
Jan 29, 2020 12:30 PM

CFPB Wants to Cut Debt-to-income Requirement from QM Rule

The Consumer Financial Protection Bureau plans to do away with its debt-to-income ratio requirement in the Ability to Pay/Qualified Mortgage rule, HousingWire reported Jan. 21. However, Fannie Mae and Freddie Mac are not required to abide by this change, and loans sold to the government-sponsored enterprises are allowed to exceed 43% DTI.

 
Jan 29, 2020 12:30 PM

Housing, Consumer Spending to Propel Economy: Fannie Mae

Housing, consumer spending and business investment are expected to lead the U.S. economy to its 11th consecutive year of growth, Fannie Mae’s Economic and Strategic Research Group reported Jan. 21. The group noted that housing will be an economic growth driver, but that problems of affordability and inventory are likely to persist.

 
Jan 22, 2020 12:30 PM

Federal Reserve May Cut Interest Rates 3 Times This Year, Starting in March: UBS

The Federal Reserve could cut interest rates three times this year, despite such a move being uncommon during an election year, according to investment banking firm UBS, HousingWire reported Jan. 15. Damage from tariffs not covered under the Phase One trade deal could force the Fed to ease monetary policy as soon as March.

 
Jan 22, 2020 12:30 PM

FHFA Seeks Comments on Residential PACE Loan Programs

The Federal Housing Finance Agency on Jan. 16 issued a Request for Input regarding proposed changes to the Property Assessed Clean Energy program, which covers energy retrofitting for residential and commercial properties. This RFI focuses primarily on the residential sector.

 
Jan 22, 2020 12:30 PM

Fed Beige Book Shows Mixed Residential, Commercial Sectors

Low inventories of for-sale homes continue to strain markets in some Fed districts despite moderate expansion of new residential construction, according to the latest Beige Book released Jan. 15 by the Federal Reserve. Commercial activity was mixed, with districts reporting widely varying results. ​

 
Jan 15, 2020 12:30 PM

Buying a Home is More Affordable than Renting in 53% of Housing Markets: Report

Owning a median-priced, three-bedroom home is more affordable than renting a similar property in 53% of the nation’s markets, according to the 2020 Rental Affordability Report released Jan. 9 by analytics firm ATTOM Data Solutions. The report showed that owning is generally more affordable in rural markets while renting is better in urban and suburban markets.

 
Jan 15, 2020 12:30 PM

Home Values Reached a Record $29 Trillion In Q3: Report

The value of owner-occupied homes in the U.S. hit a record $29.2 trillion in the third quarter 2019, up 4.2% from the previous quarter, according to the Federal Reserve’s Flow of Funds report released Jan. 8, HousingWire reported. The overall value of U.S. homes is now 21% higher than the bubble peak in 2006.

 
Jan 15, 2020 12:30 PM

Past Decade Produced Fewest Houses in 60 Years: NAHB

During the 10-year period from 2010-19, single-family housing production in the U.S. totaled just 6.8 million units compared to 12.3 million units the previous decade, the National Association of Home Builders reported Jan. 6. That level of production was the lowest in 60 years, and is primarily attributed to supply-side headwinds and reduced affordability.

 

Office Market Looks Positive for 2020 as Economy Poised for Growth, CBRE Reports

The nation’s office market is expected to perform well this year in both primary and secondary markets, and demand could potentially outstrip supply thanks to an economic outlook that shows continued growth and consistent job creation, according to the Real Estate Market Outlook 2020 released Dec. 23 by real estate firm CBRE, National Real Estate Investor reported.

 
Jan 08, 2020 12:30 PM

IRS, Treasury Release Final Opportunity Zone Regulations

The IRS and the Treasury Department on Dec. 19 issued final regulations that provide guidance for investments in qualified opportunity zones. The regulations address taxpayer eligibility and requirements and explain how an entity becomes a qualified opportunity zone or a qualified opportunity business property.

 
Jan 08, 2020 12:30 PM

GSEs, CFPB, Pot Banking Among House Priorities in 2020

House Financial Services Committee Chair Maxine Waters, D-Calif., said that reforming the government-sponsored enterprises, closely monitoring the “undermined” Consumer Financial Protection Bureau and removing obstacles to banks serving marijuana businesses are among the committee’s top priorities in 2020, American Banker reported Jan. 1.

 
Dec 19, 2019 08:00 AM

Jefferson Sherman to Become President of Appraisal Institute on Jan. 1

Jefferson L. Sherman, MAI, AI-GRS, of Highland Heights, Ohio, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 18,000 professionals in almost 50 countries.

 
Dec 18, 2019 12:30 PM

CRE Space to Face Challenges, Opportunities in Coming Years: MBA White Paper

The office market should stay strong for several years due to strong job gains and stable market conditions, according to the white paper, “Where From Here?,” released Dec. 10 by the Mortgage Bankers Association. However, the paper noted that any change in consumer sentiment could influence the economy and demand for commercial space.

 
Dec 18, 2019 12:30 PM

VA Loans More Than 40% of Ginnie Mae Mortgage Portfolio

Ginnie Mae reported Dec. 10 that VA loans make up 42% of its single-family mortgage bond issuance, and the agency now insures more than $2.1 trillion in total mortgages, HousingWire reported. A decade ago, VA loans only comprised 16.2% of Ginnie’s portfolio.

 
Dec 18, 2019 12:30 PM

Fed to Maintain Rates in 2020, Barring Major Economic Change

The Federal Reserve on Dec. 11 voted to keep interest rates at their current levels and to maintain its path through 2020 — unless there’s a significant economic event, HousingWire reported. Fallout from the U.S.-China trade talks was cited as the primary reason for keeping rates in check.

 
Dec 04, 2019 12:30 PM

Cap Rate Compression Expected to Stop as the 2020 Election Draws Closer: Experts

Cap rate compression in the current market likely will stop as the 2020 presidential election nears and investors re-evaluate their exposure to domestic and geopolitical risks, according to investment advisory firm National Net Lease Group, GlobeSt.com reported Nov. 27.

 
Dec 04, 2019 12:30 PM

Fed Beige Book Reveals Increased Construction Activity

Both residential and commercial construction activity was steady to moderately higher in most Fed districts during the past six weeks, but home sales remained mostly flat or showed only slight increases, the Federal Reserve reported Nov. 27 in its latest Beige Book. Overall economic activity showed modest expansion.

 
Dec 04, 2019 12:30 PM

FHFA Raises Conforming Loan Limits for Fannie, Freddie

The Federal Housing Finance Agency announced Nov. 26 that it will raise the conforming loan limit for Fannie Mae and Freddie Mac to $510,000, up from $484,350, Housing Wire reported. This will be the fourth consecutive annual increase, during which time the limit has increased by more than $93,000.

 
Nov 27, 2019 12:30 PM

Industrial Real Estate Sector Starting to Exhibit Signs of Slowdown, Reis Data Shows

The industrial sector may be cooling off, according to real estate research firm Reis, National Real Estate Investor reported Nov. 21. Industrial tenants are expected to absorb about 50% less space over the next two years than was absorbed during the past two, and 18 markets saw negative net absorption during the third quarter.

 
Nov 27, 2019 12:30 PM

CFPB Reconsiders TRID Rule, Reviews Mortgage Disclosures

The Consumer Financial Protection Bureau announced Nov. 20 it will review the TILA-RESPA Integrated Disclosure Rule and may eliminate it. The bureau will consider public comments as it also evaluates modifying or expanding TRID, which has caused significant concern among mortgage and title companies.​

 
Nov 27, 2019 12:30 PM

FHFA to Again Propose Enterprise Capital Rule for GSEs

The Federal Housing Finance Agency announced Nov. 19 that it will once again propose capital requirements for Fannie Mae and Freddie Mac involving the “entire regulation,” a plan first proposed in 2018. The proposal is expected in 2020, and will coincide with the end of conservatorship for the government-sponsored enterprises.

 
Nov 20, 2019 12:30 PM

Public Offering of Shares in Fannie and Freddie May Be Available By 2021: FHFA

A large public offering of shares in Fannie Mae and Freddie Mac will probably be ready by 2021 or 2022, according to Federal Housing Finance Agency Director Mark Calabria, National Real Estate Investor reported Nov. 13. Calabria said he expects the FHFA to have a rule dictating capital requirements in place before the enterprises go to market.

 
Nov 20, 2019 12:30 PM

IRS Boosts Enforcement of Syndicated Conservation Easements

The IRS announced Nov. 12 that it’s ramping up enforcement actions for syndicated conservation easement transactions, looking for overstated values from more than a billion dollars in easements donated to charity. The IRS says it intends to end “abusive” transactions that defraud the government of revenue and undermine efforts at private land conservation.

 
Nov 20, 2019 12:30 PM

AQB Clarifies Sanctions Criteria, Reviews PAREA Guidelines

The Appraiser Qualifications Board at its Nov. 1 public meeting adopted the second exposure draft of proposed changes to the Real Property Appraiser Qualification Criteria pertaining to supervisor qualifications. The changes clarify that sanctions levied against an appraiser over administrative matters do not prevent that individual from acting as a supervisory appraiser. The changes take effect Jan. 1.

 
Nov 14, 2019 08:00 AM

Appraisal Institute Premieres Solar Photovoltaic Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a four-hour classroom seminar on developing the value of solar photovoltaic systems today in Chicago.

 
Nov 13, 2019 12:30 PM

FHFA Seeks Public Feedback on Fannie Mae, Freddie Mac UMBS Pooling Practices

The Federal Housing Finance Agency on Nov. 4 issued a Request For Input on pooling practices for Fannie Mae and Freddie Mac in preparation for new uniform mortgage-backed securities. The agency also is seeking input by Dec. 19 about other policies that might impact UMBS fungibility, including oversight of UMBS prepayment speeds and alignment.

 
Nov 13, 2019 12:30 PM

WeWork May Leave Landlords with Empty Space, Bills: Report

Some landlords who signed leases with beleaguered co-working operator WeWork may be left with both vacant space and the bills for tenant improvements because the We Company structured its leases through LLCs that are not guaranteed by its holding company, according to real estate advisory firm George Smith Partners, National Real Estate Investor reported Nov. 12.

 
Nov 13, 2019 12:30 PM

Widespread Acceptance of Digital Mortgages Years Off: Fitch

Concerns over enforceability, technology and security could delay broad acceptance of digital mortgages for several years, according to ratings agency Fitch Ratings, HousingWire reported Nov. 5. While some government and mortgage industry entities have made progress, the use and acceptance of electronic promissory notes remains a big hurdle.

 
Nov 06, 2019 12:30 PM

Fed Cuts Interest Rates, But Says No More Reductions Coming Unless Economy Worsens

The Federal Reserve on Oct. 30 cut interest rates for the third time this year, but Fed Chair Jerome Powell said that monetary policy is in a good place and no further rate reductions would occur unless the economy gets worse, Reuters reported. In contrast, President Trump is advocating further rate cutting.

 
Nov 06, 2019 12:30 PM

FHFA Scorecard for GSEs Sets Stage to Exit Conservatorship

The Federal Housing Finance Agency on Oct. 28 released its annual scorecard outlining goals for Fannie Mae and Freddie Mac for the coming year, and this one emphasized the removal of the government-sponsored enterprises from conservatorship, HousingWire reported. The scorecard also addressed national housing finance matters and safe and sound business practices.

 
Nov 06, 2019 12:30 PM

DOJ, HUD Ease Off False Claims Act, Eye More FHA Lending

The government will limit use of the False Claims Act against mortgage providers in pursuit of settlements related to Federal Housing Administration loans, Housing and Urban Development Secretary Ben Carson told attendees at the Mortgage Bankers Association Annual Conference Oct. 28 in Austin, Texas, HousingWire reported. HUD wants to coax big banks back to FHA lending.

 
Nov 05, 2019 08:00 AM

Appraisal Institute Seeks Speakers for 2020 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, is accepting proposals for presentations at its 2020 Annual Conference, Aug. 3-5, at the JW Marriott in Orlando, Florida. The deadline is 5 p.m. CST Nov. 25.

 
Oct 30, 2019 12:30 PM

Global Banking Outlook Dims; Reinvention Required to Survive Downturn: Report

Approximately 60% of global banks are not generating returns on equity and need to reinvent themselves to survive the next downtown, according to a report released Oct. 21 by consulting firm McKinsey. The firm suggests such tactics as ramping up risk-management systems, identifying new customer bases and building out digital talent bases and data analytics.

 
Oct 30, 2019 12:30 PM

Supreme Court Will Hear Case on Constitutionality of CFPB

The Supreme Court announced Oct. 18 it will hear a case challenging the constitutionality of the Consumer Financial Protection Bureau, and a decision is expected by June, CNBC reported. The case alleges that the structure of the CFPB gives its director too much power, in violation of the Constitution’s separation of powers clause.

 
Oct 30, 2019 12:30 PM

Fannie, Freddie Shareholders Could Be "Wiped Out:" FHFA

Mark Calabria, director of the Federal Housing Finance Agency, told the House Financial Services Committee Oct. 22 that he’s willing to “wipe out” Fannie Mae and Freddie Mac shareholders if necessary to protect taxpayers from another bailout, HousingWire reported. The government-sponsored enterprises have been in conservatorship since 2008.

 
Oct 24, 2019 08:00 AM

Appraisers Provide a Wide Variety of Services, Appraisal Institute Says

Hiring a Designated Member of the Appraisal Institute can provide a broad range of benefits to commercial and residential clients, the president of the nation’s largest professional association of real estate appraisers said today.

 
Oct 23, 2019 12:30 PM

Commercial Real Estate Executives Mostly Positive About Sector: Deloitte Survey

Commercial real estate executives from around the world who participated in a survey conducted by consulting firm Deloitte said they were mostly optimistic about sector performance during the next 18 months, MBA NewsLink reported Oct. 16. Nearly 75% of respondents said they anticipate increased transaction activity, but also increased borrowing costs.

 
Oct 23, 2019 12:30 PM

OCC Fines Citibank $30M Over Delayed Foreclosure Sales

The Office of the Comptroller of the Currency fined Citibank $30 million over the lender’s failure to sell hundreds of foreclosed properties within the allotted 5-year timeframe, HousingWire reported Oct. 11. Federal regulations require banks to sell foreclosed properties within two to five years in order to expand housing inventory.

 
Oct 23, 2019 12:30 PM

Fed to Expand Balance Sheet, but No Quantitative Easing

Federal Reserve Chair Jerome Powell on Oct. 11 announced a plan for the Fed to expand its balance sheet by purchasing government-backed securities, but said the effort is not quantitative easing, The New York Times reported. The Fed’s previous quantitative easing policy ended in 2014 after accumulating $4.5 trillion in assets, including mortgage-backed securities.

 
Oct 22, 2019 11:05 AM

Distribution Facilities Drive Growth in Industrial Market: Valuation Magazine

Demand for distribution facilities is primarily driving growth in the healthy industrial real estate market, according to an article in Valuation magazine’s third quarter 2019 issue.

 
Oct 15, 2019 08:00 AM

Wide Range of Big-Box Values Raises Concerns: The Appraisal Journal

Courts, market participants and valuation professionals have expressed widespread concern about the broad range in real estate values presented by opposing litigation experts regarding single-tenant, big-box properties, according to an article published this week in The Appraisal Journal.

 
Sep 20, 2019 08:00 AM

Appraisal Institute Praises House for Passing Valuation-Related Bills

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today applauded the U.S. House for passing consumer-friendly legislation that will address long-standing concerns surrounding residential appraisals.

 
Sep 17, 2019 08:00 AM

Don’t Like Your Home’s Appraisal? Here’s What You Can Do

Buyers and sellers who are concerned about a home’s appraisal have options available to them, the president of the nation’s largest professional association of real estate appraisers said today.

 
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 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

White House Unveils Plan to End Fannie, Freddie Control

The Trump administration on Sept. 5 shared its plan for releasing Fannie Mae and Freddie Mac from more than 10 years of government control, including the creation of new competitors, Bloomberg reported. The plan involves cooperation from multiple federal agencies and calls for reforms that protect the government-sponsored enterprises from another housing crash.

 
Sep 09, 2019 08:00 AM

Appraisers Can Help Clients Navigate Natural Disasters, Appraisal Institute Says

In the aftermath of a natural disaster, such as a hurricane, appraisers can help their clients by providing expert market analysis, according to the nation’s largest professional association of real estate appraisers.

 
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....

 
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...

 
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...

 
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 28, 2019 12:30 PM

LIBOR Replacement Remains Elusive for US Lenders: Fitch

The London Interbank Offered Rate is set to expire at the end of 2021, but a replacement for the short-term interest rate benchmark hasn’t been determined, HousingWire reported Aug. 20. Investor consent has been a problem for the phase-out of LIBOR, according to a group of trustees from Fitch Ratings’ U.S. RMBS Trustee Roundtable.

 
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 27, 2019 08:00 AM

Appraisal Institute, Fannie Mae Join Forces to Foster Diversity in Valuation Profession

The Appraisal Institute is partnering with Fannie Mae to promote appraisal careers and to foster diversity in the valuation profession, the nation’s largest professional association of real estate appraisers announced today.

 
Aug 23, 2019 08:00 AM

Appraisal Institute Debuts Artificial Intelligence Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, debuted a four-hour classroom seminar on artificial intelligence, automated valuation models and blockchain today in Denver.

 
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 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

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 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 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

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 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.

 
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

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.

 
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.

 

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 29, 2019 08:00 AM

Jody Bishop Elected 2020 Appraisal Institute Vice President

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, was elected 2020 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Denver.

 
Jul 25, 2019 08:00 AM

Appraisal Institute Honors 11 National Award Winners

Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego, was honored Wednesday with the Appraisal Institute’s Lifetime Achievement Award during the Appraisal Institute Annual Conference in Denver.

 
Jul 22, 2019 11:34 AM

Appraisal Institute Opens Valuation Profession’s Premier Event

More than 525 real estate professionals from around the world today attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

 
Jul 18, 2019 10:56 AM

Appraisal Institute Condemns NCUA’s Action, Calls for Congressional Oversight

The nation’s largest professional association of real estate appraisers vigorously condemned today’s action by the National Credit Union Administration, calling the NCUA’s decision to effectively reduce the number of appraisals required for commercial real estate loans irresponsible, radical and dangerous.​

 
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 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

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 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.

 
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 09, 2019 08:00 AM

Valuing Timeshares Requires Special Care: The Appraisal Journal

Special care must be taken to understand the timeshare interest and the competitive market in which that interest would sell, according to an article published this week in The Appraisal Journal that explores key issues facing appraisers when valuing timeshares.

 
Jul 02, 2019 08:00 AM

Appraisers Expect Shift in Hospitality Market: Valuation Magazine

The nation’s hospitality sector has enjoyed a decade-long hot streak, but is a correction on the way? Appraisers discuss what’s happening in this challenging market in Valuation magazine’s second quarter 2019 issue.

 
Jun 20, 2019 01:09 PM

Appraisal Institute Urges Congress to Address Valuation Issues

The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during today’s hearing on Capitol Hill.​

 
Jun 20, 2019 08:00 AM

Appraisal Institute Urges Congress to Address Valuation Issues

The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during today’s hearing on Capitol Hill. ​

 
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 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

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 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 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

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 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.

 
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

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.

 
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 29, 2019 08:00 AM

Low-cost Landscaping Can Be a Wise Investment: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to consider basic landscaping improvements that can generate a major return on investment when reselling the property.

 
May 23, 2019 08:00 AM

Valuation Career Opportunities Abound, Appraisal Institute Tells Graduates

As the number of real estate appraisers has decreased in recent years, rewarding career opportunities have opened for recent graduates, according to the nation’s largest professional association of real estate appraisers.

 
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 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

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 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 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

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 10:04 AM

Complex Residential Properties Offer Challenges to Appraisers, New Book Finds

Only by properly identifying and investigating the unique characteristics of condos, co-ops and planned unit developments can appraisers properly value these common but complicated residential properties, according to a new book published by the Appraisal Institute.

 
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 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 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

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 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

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 08:00 AM

Exterior Home Renovations Offer Greatest Value: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advised homeowners to focus on outdoor improvement projects when seeking to improve their home’s value.

 
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 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

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 16, 2019 08:00 AM

Appraisal Institute, Freddie Mac Unveil New Valuation Course on Manufactured Homes

As part of their recently announced collaboration, the Appraisal Institute and Freddie Mac unveiled a new educational offering today in Dallas that is designed to teach appraisers the latest skills on how to value manufactured homes.

 
Apr 11, 2019 08:00 AM

In-Depth Scrutiny of Published Data Improves Property Market Understanding: The Appraisal Journal

A detailed analysis of population and employment data, along with the use of fair share comparisons, increases the accuracy of assumptions made by appraisers when completing commercial valuation assignments, according to a study published this week in The Appraisal Journal.

 
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 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

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 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 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 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.

 
Apr 02, 2019 08:00 AM

Appraisers Adapt to Evolving Residential Market: Valuation Magazine

Appraisers working in the residential real estate sector say national trends broadly apply to their markets, but they note that since each region essentially is local, they need to adapt to ever-changing area dynamics, according to an article in Valuation magazine’s first quarter 2019 issue.

 
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 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

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 25, 2019 08:00 AM

Appraisal Institute Opens Registration for 2019 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced it has opened registration for its 2019 Annual Conference, July 22-24, in Denver.

 
Mar 22, 2019 08:00 AM

Appraisal Institute Debuts Rural Valuation Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, debuted a seven-hour classroom seminar on rural valuation issues today in Nashville, Tennessee.

 
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 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

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 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 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

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.

 

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.

 
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.

 
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 11:00 AM

Appraisal Institute and Freddie Mac to Teach Valuation of Manufactured Homes

The Appraisal Institute and Freddie Mac today announced a partnership targeted to help real estate appraisers when valuing manufactured housing, meeting an important need for homebuyers, lenders, appraisers and homebuilders.

 
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 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

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 08:00 AM

New Appraisal Institute Book Addresses Corridor Valuation

Appraising energy and transportation corridors presents special challenges for real property valuation professionals, according to a new book published by the Appraisal Institute, the Appraisal Institute of Canada and the International Right of Way Association.

 
Feb 22, 2019 08:00 AM

Appraisal Institute Premieres Leasehold Valuation Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a seven-hour classroom seminar on leasehold valuation issues today in Emeryville, California.​

 
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 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

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 14, 2019 08:00 AM

Qualified Appraisers Key to Property Tax Appeals, Appraisal Institute Says

Working with an Appraisal Institute Designated Member can benefit homeowners who choose to appeal their property tax assessments, the nation’s largest professional association of real estate appraisers said today.

 
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 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

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 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

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 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

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 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 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

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 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 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

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 10, 2019 08:00 AM

Appraisal Institute to Enhance Focus on Residential Appraisers in 2019: Valuation Magazine

As residential appraisers face new concerns, the Appraisal Institute continues spending significant time and resources on the issues and challenges impacting valuation professionals, according to an article in Valuation magazine’s fourth quarter 2018 issue.

 
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.

 
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

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.

 
Dec 27, 2018 08:13 AM

Stephen Wagner to Become President of Appraisal Institute on Jan. 1

Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with more than 18,000 professionals in nearly 50 countries.

 
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 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

Department of Veterans Affairs Drops Fannie Mae Form 1004MC Requirement

The U.S. Department of Veterans Affairs announced Dec. 11 that, effective immediately, it will no longer require appraisers to include Fannie Mae Form 1004MC in VA appraisal reports. However, appraisers still are responsible for analyzing and accurately reporting market conditions.

 
Dec 13, 2018 08:00 AM

Current Use is Key Factor for Retail Valuation in the Age of Amazon: The Appraisal Journal

Financial statements should be used when appraising retail properties to determine the “durability of the current use” as Amazon and e-commerce threaten brick and mortar retail sales, according to a study published this week in The Appraisal Journal.

 
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 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

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 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.

 
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

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 04, 2018 10:09 AM

Appraisal Institute Joins 17 Groups Opposing Credit Union Administration’s Proposed Action

The nation’s largest professional association of real estate appraisers joined 17 other organizations Monday in saying it “strongly opposed” the National Credit Union Administration’s plan to reduce the number of non-residential real estate loans requiring appraisals.

 
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 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

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 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 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

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 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 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

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 13, 2018 08:00 AM

Appraisal Institute Seeks Speakers for 2019 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, is accepting proposals for presentations at its 2019 Annual Conference, July 22-24, at the Hyatt Regency Denver. The deadline is 5 p.m. CST Dec. 3.

 
Nov 08, 2018 08:00 AM

Now Is the Time to Winterize Homes, Appraisal Institute Says

How should you prepare your home for winter? When should you begin? To increase the chances of improving your home’s value, ask a real estate appraiser before starting.

 
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.

 
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

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.

 
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 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

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 30, 2018 08:00 AM

New Appraisal Institute Book Examines Condemned Properties

Appraisers who value properties subject to eminent domain are likely to find themselves in court, explaining and defending their analysis and opinions, according to a new book published by the Appraisal Institute.

 
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 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

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 08:00 AM

Coastal Appraisers Soon to Face Rising Sea Levels: Valuation Magazine

The effects of rising sea levels are becoming increasingly real to coastal communities and property owners, with homes and commercial properties valued at more than $1 trillion potentially at risk from rising waters by 2100, according to an article in Valuation magazine’s third quarter 2018 issue. ​

 
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 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

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 16, 2018 08:00 AM

Highest and Best Use Analysis Key to Retail Valuation: The Appraisal Journal

The highest and best use analysis should dictate the methods and approaches applied in valuation analysis, according to a study published this week in The Appraisal Journal.

 
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 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

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 04, 2018 08:00 AM

‘Green’ Home Improvements Can Pay Off: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged home sellers to consider making energy-efficient improvements to their properties and urged potential buyers to seek homes with those features.

 
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 12:30 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 12:29 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.”

 
Sep 26, 2018 12:30 PM

Investors Expect Senior Housing Market to Remain Strong, CBRE Reports

Nearly two-thirds of real estate investors said they are planning to add more senior housing to their portfolios, and interest in independent living properties is especially high, according to commercial real estate company CBRE, MBA NewsLink reported Sept. 17. The senior housing vacancy rate is hovering around 9 percent.

 
Sep 26, 2018 12:30 PM

US Economic Growth to Halt in 2020, Wall Street Journal Survey Shows

Fifty-nine percent of economists responding to a Wall Street Journal survey said they believe the U.S. economy will stop expanding in 2020, HousingWire reported Sept. 18. Sixty-two percent of respondents said the most likely cause of the next downturn would be an overheated economy that leads to increased Fed tightening.

 
Sep 26, 2018 12:30 PM

House Passes Legislation Raising Threshold Levels for SBA Loan Programs

The U.S. House of Representatives on Sept. 25 approved HR 6347 and HR 6348, legislation the Appraisal Institute says will put taxpayers at significant risk by virtually eliminating appraisal requirements for the Small Business Administration’s two largest loan programs. AI had submitted a letter urging the House to vote against the legislation.

 
Sep 25, 2018 08:00 AM

Appraisal Institute Opposes Bills Raising Thresholds for SBA Loans

Citing significant risks to taxpayers, the Appraisal Institute on Monday urged the U.S. House of Representatives to turn back legislation that would virtually eliminate appraisal requirements for the Small Business Administration’s two largest loan programs. Votes on two related bills are expected today in the full House.

 
Sep 19, 2018 12:30 PM

New Google Tool Estimates Carbon Footprint of Buildings, Transportation

Google launched its Environmental Insights Explorer tool Sept. 10 to estimate the carbon footprint of a city’s buildings and all the modes of transportation used by the people living there, Fast Company reported. More than 9,000 cities have agreed to reduce emissions as part of the Paris Agreement, but many have no inventory of emissions.

 
Sep 19, 2018 12:30 PM

Beige Books Shows Housing Activity Slowing, Commercial Activity Growing

Home sales through the end of August slowed in some Fed districts due to lower demand and reduced inventories, but commercial sales and leasing showed modest increases, as did lending activity, the Federal Reserve reported Sept. 12 in its latest Beige Book.

 
Sep 19, 2018 12:30 PM

Mortgage Fraud Rose Sharply During the Second Quarter: CoreLogic

The risk for mortgage fraud jumped 12.4 percent year-over-year in the second quarter, according to the Mortgage Application Fraud Index released Sept. 13 by analytics firm CoreLogic, HousingWire reported. The index includes data for such fraud indicators as identity, income, occupancy, property, transaction and undisclosed real estate debt.

 
Sep 12, 2018 10:40 AM

Bill to Repeal GSEs Introduced; Appraisal Institute Reviewing Proposal

Reps. Jeb Hensarling, R-Texas, and John Delaney, D-Md., released on Sept. 6 a discussion draft bill to reform the government sponsored-enterprises and the housing finance system currently backed by Fannie Mae and Freddie Mac. The bill would repeal the GSEs’ charters and adopt a system allowing qualified mortgages to be securitized through Ginnie Mae.

 
Sep 12, 2018 10:40 AM

Farmland Prices Hold Steady Despite Trade War with China, Moodys Says

Farmland prices in the U.S. are holding steady despite the recent trade war with China, according to risk management firm Moody’s Analytics, Commercial Observer reported Sept. 4. Real estate values in the Federal Reserve’s seventh district (where most soybean production occurs) reached a record high of $3,140 per acre in August.

 
Sep 12, 2018 10:38 AM

Fed Extends Until Mid-October the Comment Period for Volcker Rule Update

U.S. regulators announced Sept. 4 that they extended by 30 days the public comment period regarding the proposed rewrite of the Volcker Rule, Reuters reported. Comments are due by Oct. 17. The Volcker Rule bans proprietary trading by banks, which have complained that the rule is too complex.

 
Sep 11, 2018 08:00 AM

Appraisal Institute Unveils Property Use Classification System

The nation’s largest professional association of real estate appraisers today unveiled an information system that classifies and describes property uses and assists real estate analysts and others with their property use data storage and analysis.

 
Sep 05, 2018 12:30 PM

Medical Office Vacancies at 10-Year Low; Developers Stay Busy: Report

The medical office market remains a hot sector for institutional investors, with building vacancies rising slightly but still at a 10-year low, according to commercial real estate brokerage Marcus & Millichap, Globest.com reported Aug. 30. Developers are on track to deliver an additional 9.9 million square feet this year.

 
Sep 05, 2018 12:30 PM

Moodys Says It Will Acquire Reis

Ratings agency Moody’s announced Aug. 30 that it is acquiring the analytics firm Reis, MarketWatch reported. The $278 million deal expands Moody’s presence in the U.S. commercial real estate market. ​

 
Sep 05, 2018 12:30 PM

Fed Sees Greater Recession Risk as Some Seek to Halt Rate Increases

The gap between short-term and long-term borrowing costs is narrowing, which could signal the growing risk of a recession, according to a Federal Reserve study published Aug. 27, Business Insider reported. Some Fed officials believe that the flattening yield curve is a reason to halt additional interest rate increases.

 
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 29, 2018 12:30 PM

National Mortgage Settlement Involving Feds, States and Banks Wraps Up

The National Mortgage Settlement between the federal government and 49 states and five of the nation’s largest banks and mortgage servicers has concluded after netting $25 billion in consumer relief and other payments, HousingWire reported Aug. 22. The settlement, announced in February 2012, involved allegations that mortgage documents were being “robo-signed.”

 
Aug 29, 2018 12:30 PM

Fannie, Freddie Drop Pilot Programs That Targeted Single-family Rentals

The Federal Housing Finance Agency announced Aug. 21 that Fannie Mae and Freddie Mac will end their pilot programs for the single-family rental market, HousingWire reported. The government-sponsored enterprises conducted its “test and learn” for a year before determining that the market can function without GSE assistance.

 
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 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

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 21, 2018 12:00 PM

Jim Amorin Named Appraisal Institute CEO

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced it has hired Jim Amorin, MAI, SRA, AI-GRS, of Austin, Texas, as its chief executive officer after a nearly year-long search.

 
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 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

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 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.

 
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

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 03, 2018 09:22 AM

Rodman Schley Elected 2019 Appraisal Institute Vice President

Rodman Schley, MAI, SRA, of Denver, was elected 2019 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Nashville, Tennessee.

 
Aug 01, 2018 12:30 PM

Construction Costs, Zoning May Slow Office Sector: Cushman & Wakefield

The office sector could slow next year as construction costs and zoning issues increase and concerns grow over the end of the current real estate cycle, according to real estate services firm Cushman & Wakefield, National Real Estate Investor reported July 24.

 
Aug 01, 2018 12:30 PM

IRS Final Rules Define Qualified Appraisers, Standards Flexibility

The IRS on July 30 finalized rules for substantiating and reporting cash and noncash charitable deductions, stating that any tax deduction of more than $500,000 requires a qualified appraisal conducted in accordance with generally accepted appraisal standards. The rules take immediate effect.

 
Aug 01, 2018 12:30 PM

Fannie Mae Drops Form 1004MC, the GSE Reveals at AI Annual Conference

Fannie Mae is discontinuing the use of Form 1004MC (Market Conditions), the government-sponsored enterprise announced July 30 at the Appraisal Institute Annual Conference in Nashville, Tennessee. The GSE is expected to officially announce the change when it releases its updated Selling Guide in the coming weeks.

 
Aug 01, 2018 08:00 AM

Appraisal Institute Honors 13 National Award Winners

Craig M. Harrington, SRA, AI-RRS, of Prior Lake, Minnesota; and Leslie P. Sellers, MAI, SRA, AI-GRS, of Clinton, Tennessee, were honored Tuesday with the Appraisal Institute’s Lifetime Achievement Award and Timothy P. Runde, MAI, of San Francisco, was named the recipient of the Outstanding Service Award during the Appraisal Institute Annual Conference in Nashville, Tennessee.

 
Jul 30, 2018 11:16 AM

Appraisal Institute Opens Valuation Profession’s Premier Event

More than 550 real estate professionals from around the world today attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

 
Jul 25, 2018 12:30 PM

Appraisal Institute Opposes Risk Management Reductions for SBA Loans

The Appraisal Institute on July 20 announced its opposition to proposed federal legislation that would reduce the requirements for appraisals in major Small Business Administration loan programs. AI told Congress that it specifically objects to provisions that would increase the real estate appraisal thresholds for SBA loan programs.

 
Jul 25, 2018 12:30 PM

Fed Beige Book Reveals Mixed Results in Residential, Commercial Sectors

Some Fed districts reported moderate improvements in the residential real estate sector, but their reports on commercial activity revealed largely stagnant conditions, the Federal Reserve reported July 18 in its newest Beige Book.

 
Jul 25, 2018 12:30 PM

Housing Industry Loses Status as Economic Driver, Fed Chair Testifies

The housing industry isn’t the economic driver it once was and doesn’t have much pull in monetary policy decision making, Federal Reserve Chair Jerome Powell told the House Financial Service Committee July 17 as he delivered the semi-annual monetary policy report, HousingWire reported.

 
Jul 20, 2018 10:44 AM

Appraisal Institute Opposes Effort to Reduce Risk Management for SBA Loans

The nation’s largest professional association of real estate appraisers today announced its opposition to proposed federal legislation that would reduce the requirements for appraisals in major Small Business Administration loan programs.

 
Jul 18, 2018 12:30 PM

Illinois Changes AMC Law, Allows Multistate Appraiser Licensing System

Illinois Gov. Bruce Rauner on July 13 signed Public Act 100-0604 (enacted as SB 2617), legislation that amends Appraisal Management Company Registration Act requirements for AMC registration and oversight. It also authorizes the Illinois Department of Financial and Professional Regulation to participate in a multistate appraiser licensing and renewal system.

 
Jul 18, 2018 12:30 PM

FHA Easing Use of False Claims Act, Wants Banks to Re-enter Market

The Trump administration on July 10 said the Federal Housing Administration will scale back its use of the False Claims Act so that banks that previously shied away from offering FHA loans due to concerns about violations and settlements are more certain about offering those types of loans, HousingWire reported.

 
Jul 18, 2018 12:30 PM

Appeals Court Finds FHFA Violates Constitution's Separation of Powers

The U.S. Court of Appeals for the Fifth Circuit ruled July 16 that the Federal Housing Finance Agency's leadership structure is unconstitutional, HousingWire reported. The court found that the FHFA is too "isolated," and ruled that its director's possible removal only for cause violates the U.S. Constitution's separation of powers.

 
Jul 13, 2018 08:00 AM

Appraisal Institute Joins 29 Groups to Promote Real Estate Careers

The Appraisal Institute joined 29 real estate industry organizations, representing more than 10 million jobs, today in announcing a ground-breaking collaboration to highlight the diverse career paths within the real estate sector.

 
Jul 12, 2018 08:00 AM

Appraisers Play Distinct Roles in Arbitration: The Appraisal Journal

Alternative dispute resolution – including negotiation, mediation and arbitration – is a growing area in need of skilled real estate valuation professionals, according to a study published this week in The Appraisal Journal.

 
Jul 11, 2018 12:30 PM

Mortgage Fraud Risk, Loan Application Defects Both Drop, Report Shows

Fraud and misrepresentation in mortgage loan applications dropped 2.4 percent between April and May, and was down 3.6 percent from the same point last year, according to the Loan Application Defect Index released July 2 by settlement services firm First American Financial Corp., MBA NewsLink reported.​

 
Jul 11, 2018 12:30 PM

Pennsylvania Passes New Law Allowing Limited Broker Price Opinions

Pennsylvania Gov. Tom Wolf on June 29 signed HB 863, legislation that allows the state’s real estate brokers, associate brokers and salespeople to provide broker price opinions. The law takes effect Aug. 28 and places significant restrictions on those allowed to perform BPOs and limits the situations under which they may be performed.

 
Jul 11, 2018 12:30 PM

Freddie Mac Now Allows ACE Eligibility for Condo Unit Purchases, Refis

Freddie Mac announced June 28 that consumers who purchase a condo or refinance an existing condo mortgage might be eligible for its automated collateral evaluation appraisal waiver. The ACE program, which launched in 2017 for single-family homes, gives eligible borrowers the opportunity to forgo a traditional appraisal.

 
Jul 05, 2018 08:00 AM

Appraisers Face Unique Challenges in Hawaii: Valuation Magazine

Hawaii’s climate and landscape are keeping the state’s property values high and are contributing to its developmental and economic growth, according to an article in Valuation magazine’s second quarter 2018 issue.

 
Jun 27, 2018 12:30 PM

Banks Aggressively Seeking New Customers for CRE Loans, CBRE Reports

It's getting easier to secure construction loans for commercial real estate as banks are starting to compete for new customers, according to commercial real estate firm CBRE, National Real Estate Investor reported June 19. However, loan amounts are relatively small compared to total development project costs.

 
Jun 27, 2018 12:30 PM

Court Finds Tax Appeal Attorneys Not Engaged in Appraisal Practice

The Circuit Court of Cook County, Illinois (Chancery Division) on June 20 ruled that attorneys who referenced comparable property valuations and market values based on an income approach as part of tax appeal proceedings were simply engaged in the traditional practice of law and not in appraisal practice.

 
Jun 27, 2018 12:30 AM

Seattle Top Metro for Commercial Real Estate Investment, Report Shows

Seattle is the top metro for commercial real estate investment while New York is the worst, according to the Metro Investment Rankings Index from real estate advisory firm Situs, MBA NewsLink reported June 21. The index surveyed investors about the price/value of CRE assets for different markets and property types.

 
Jun 20, 2018 12:30 PM

Ohio Enacts Law Establishing AMC Oversight and Certification

Ohio Gov. John Kasich on June 14 signed Substitute House Bill 213, legislation that establishes the state's appraisal management company licensing and oversight program and makes minor changes to the state's existing appraiser licensing and certification law.

 
Jun 20, 2018 12:30 PM

Fed Sees Strong Economy and Raises Rates, Drops Crisis-era Policies

The Federal Reserve on June 13 increased interest rates a quarter of a percentage point, indicating it would tolerate inflation above 2 percent and was dropping crisis-era guidance, Reuters reported. Low unemployment and inflation were key factors in the decision.

 
Jun 20, 2018 12:30 PM

Treasury, IRS Select Final 'Opportunity Zones' for Tax Incentive Program

The U.S. Department of the Treasury and the IRS announced June 13 that they have selected Opportunity Zones in all 50 states and the District of Columbia; the Opportunity Zones program provides federal tax incentives to spur investment in distressed communities. Nearly 35 million people live in the selected zones.

 
Jun 19, 2018 08:00 AM

Appraisal Institute Releases Guide to Residential Green Addendum

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today released a guide to complete and use the organization’s “Residential Green and Energy Efficient Addendum.”​

 
Jun 13, 2018 12:30 PM

CFPB Scraps 3 Advisory Boards

Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, on June 6 eliminated three CFPB advisory boards, HousingWire reported. Mulvaney disbanded the Consumer Advisory Board, the Community Bank Advisory Council and the Credit Union Advisory Council, as part of an overall agency restructuring.

 
Jun 13, 2018 12:30 PM

FHFA Report to Congress Reveals Significantly Lower GSE Income

The Federal Housing Finance Agency on May 23 released its 2017 Report to Congress, revealing net income drops for the government-sponsored enterprises, mainly due to one-time tax provision expenses. Freddie Mac annual net income was down 28.2 percent for the year while Fannie Mae was down 79.6 percent.

 
Jun 13, 2018 12:30 PM

Half of US Housing Markets are 'Overvalued,' CoreLogic Reports

More than half the nation's largest housing markets were overvalued in April, meaning home prices have topped long-term, sustainable levels, according to analytics firm CoreLogic, CNBC reported June 5.

 
Jun 11, 2018 12:00 PM

New Appraisal Institute Book Examines Changes in Real Estate Market

When market volatility creates problems, real estate appraisers must develop a deeper understanding of the valuation process and a greater ability to handle a wide variety of assignments, according to a new book published by the Appraisal Institute.

 
Jun 06, 2018 12:30 PM

Albuquerque, New Mexico, Most Affordable Office Market: CBRE

Albuquerque, New Mexico, has the nation's most affordable office lease rates at $15.59 per square foot, according to real estate services firm CBRE, Bizjournal reported May 25. Louisville, Kentucky, and Cleveland rounded out the top three.

 
Jun 06, 2018 12:30 PM

Secondary Markets Becoming Tops for Office Deals, JLL Reports

Secondary markets accounted for 50 percent of all U.S. office transactions last year, due to slowing demand for and oversupply of products in core markets, according to the Investment Outlook report from real estate services firm JLL, National Real Estate Investor reported May 30.

 
Jun 06, 2018 12:30 PM

Fed Regulators Propose Rewrite of 'Volcker Rule' Bank Trading Limits

Federal regulators on May 29 unveiled plans to rewrite the Volcker Rule in order to simplify parts of the Dodd-Frank Act that ban banks from trading on their own account, Reuters reported. The proposal would ease compliance burdens and clarify which trades qualify for safe harbors.

 
May 30, 2018 12:30 PM

Dodd-Frank Rollback Signed into Law

President Trump on May 24 signed into law S. 2155, legislation that rolls back parts of the Dodd-Frank Act and that includes appraisal revisions, HousingWire reported. The Economic Growth, Regulatory Relief and Consumer Protection Act is intended to bring regulatory relief to the nation's small and mid-sized banks.

 
May 30, 2018 12:30 PM

Senators Say GSE Reform Halted - for Now

Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., told the Senate Banking Committee May 23 that legislative efforts to end government control of Fannie Mae and Freddie Mac are dead for now, Bloomberg reported. Corker's and Warner's attempt to write a bill to preserve the government-sponsored enterprises' operations failed to garner enough support.

 
May 30, 2018 12:30 PM

Experts Cite Monetary Policy as 'Likeliest Cause' for Recession by 2020

The country's next recession is expected to occur between 2019 and 2021, according to a survey of more than 100 real estate experts, analytics firm Pulsenomics reported May 22. The experts cited monetary policy as the "likeliest cause" for the downturn.

 
May 23, 2018 12:30 PM

FHA Extends by 3 Months Foreclosure Moratorium for Hurricane Victims

The U.S. Department of Housing and Urban Development and the Federal Housing Administration on May 16 extended by 90 days the foreclosure moratorium for victims of Hurricane Maria, HousingWire reported. The FHA previously requested a 60-day foreclosure suspension on top of its original 180-day freeze.​

 
May 23, 2018 12:30 PM

Economic Growth Poised to Continue this Year, Drop Next Year: Fannie Mae

Economic growth is expected to remain at 2.7 percent through the end of the year, but then take a downward turn next year as the fiscal stimulus from the Tax Cuts and Jobs Act of 2017 starts to fade, Fannie Mae reported May 17 in its newest Economic and Housing Outlook.

 
May 23, 2018 12:30 PM

House Passes Dodd-Frank Reform Bill Complete with Appraisal Revisions

The U.S. House of Representatives on May 22 passed bi-partisan legislation that would roll back many post-financial-crisis banking rules found in the Dodd-Frank Act. The White House said President Trump will sign the bill before Memorial Day.

 
May 16, 2018 12:30 PM

Report Shows Tech-reliant Cities Thrive Despite National Rent Declines

The gap has widened between office rents in tech-dominated markets like Seattle and Boston and those in markets with more traditional tenants, according to the Effective Rent Index released May 8 by real estate services firm Savills Studley, MBA NewsLink reported. To compete, landlords are offering record concessions in some markets.

 
May 16, 2018 12:30 PM

Freddie Mac Helps Non-bank Mortgage Companies

Freddie Mac has started extending credit to non-bank mortgage companies to ensure they have access to cash if their home loans default, Bloomberg reported May 7. The new lines of credit have not been publicly announced. Critics worry the move could lead to unfair market advantages for preferred lenders.​

 
May 16, 2018 12:30 PM

California Court Opinion Helps Appraisers with Intended User Lawsuits

The California Court of Appeal, Third Appellate District, certified for publication May 7 its decision in Tindell v. Murphy, which supports appraisers in lawsuits filed by parties who are not intended users of an appraisal. The Appraisal Institute’s Northern California Chapter lobbied for publication so the opinion can be cited in future cases.

 
May 15, 2018 08:00 AM

Landscaping Can Significantly Impact Home Values, Appraisal Institute Says

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to pay close attention to their property’s landscaping as it could have a major impact on value.

 
May 09, 2018 12:30 PM

FAA Legislation May Impact Property Values, Development Near Airports

Property values and development near airports could be affected by language in legislation that extends authorization of the Federal Aviation Administration, The Real Estate Roundtable reported April 27. The language, known as One Engine Inoperative, modifies take-off and landing paths in a way that restricts building heights and development around airports.

 

New Tax Plan Expected to Boost Multifamily Investment: CBRE

Recently enacted tax reform is expected to boost investor interest in multifamily properties because many of the new policies significantly increase the benefits of renting over buying, according to a May 3 report from real estate services firm CBRE, World Property Journal reported.

 
May 09, 2018 12:30 PM

Fannie Mae, Freddie Mac Reform Likely Not Happening this Year: Mnuchin

Fannie Mae and Freddie Mac won't see reforms this year due to lack of congressional interest, said Steven Mnuchin, secretary of the U.S. Department of the Treasury, during an April 30 television interview, HousingWire reported. Mnuchin said the Federal Housing Finance Agency needs to be chaired by someone who prioritizes reform.

 
May 02, 2018 12:30 PM

Senators Skeptical About Housing Reform this Year

Legislation for comprehensive housing reform is unlikely to pass this year, senators from both parties told attendees at the Mortgage Bankers Association National Advocacy Conference April 24 in Washington. Senate Banking Committee Chairman Mike Crapo, R-Idaho, said there is bi-partisan cooperation and legislators are working on a solution.

 
May 02, 2018 12:30 PM

Treasury Department Touts Deregulation Achievements in New Report

The U.S. Department of the Treasury on April 24 reported that its plan to decrease regulatory burdens resulted in the modification or elimination of 100 financial regulations since the last report was released in 2016, HousingWire reported. Treasury noted that only two regulations were categorized as significant.

 
May 02, 2018 12:30 AM

CoStar Cracks down on Freeloaders

Data firm CoStar announced plans April 23 to target so-called “freeloaders,” users accessing its database without paying, The Real Deal reported. The firm said it suspects as many as 30,000 individuals are illegally using its commercial real estate database.

 
Apr 26, 2018 08:00 AM

Co-working Spaces Changing Office Real Estate: Valuation Magazine

Co-working spaces are significantly impacting the U.S. office real estate market, but it’s unclear if the explosive growth they’ve experienced since the Great Recession signals a market disruption or a passing trend, according to an article in Valuation magazine’s first quarter 2018 issue.

 
Apr 25, 2018 12:30 PM

Wells Fargo Pays $1B to Settle Mortgage Fee and Other Abuse Claims

Wells Fargo on April 17 agreed to pay a $1 billion fine to settle allegations from the Consumer Financial Protection Bureau that it routinely charged homebuyers excessive “rate-lock” fees, Reuters reported. The bank, which also was accused of force-placed auto insurance, agreed to settle without admitting or denying wrongdoing.

 
Apr 25, 2018 12:30 PM

Fed Cites Appraisal Threshold Success in Banking Efficiency Testimony

Randal Quarles, the Federal Reserve’s vice chairman of supervision, testified April 17 before the Senate Committee on Banking, Housing, and Urban Affairs about regulatory changes that increase banking efficiencies, citing the recent increase in the appraisal threshold for commercial real estate loans, which he said posed no threat to safety and soundness.

 
Apr 25, 2018 12:30 PM

The Appraisal Subcommittee Denies Bank Request for Appraisal Waiver

The Appraisal Subcommittee unanimously rejected a temporary waiver request from TriStar Bank of Dickson, Tennessee, during a special meeting April 23 in Washington. The Appraisal Institute led industry efforts opposing the bank’s request for a waiver of certification requirements, which would have allowed appraisals to be completed by non-certified appraisers.

 
Apr 13, 2018 08:00 AM

Home Values Rebound from Oil Spills: The Appraisal Journal

Home values in Golden Beach, Maryland, near an April 2000 oil spill dropped in the short term, but rebounded after two years, according to a study published this week in The Appraisal Journal.

 
Apr 11, 2018 12:30 PM

Data Shows No Shortage of Investor Interest in the Self Storage Sector

Investor interest in self-storage properties is high, with sale prices rising and cap rates averaging 6.3 percent during the fourth quarter, down from 6.5 percent the previous year, according to analytics firm RCA, National Real Estate Investor reported April 3.

 
Apr 11, 2018 12:30 PM

Fannie Mae Permits Lenders to Contribute to Borrower Closing Costs

Fannie Mae announced April 3 that it will allow lenders to contribute to borrowers' closing costs if the funds are a gift and not part of the down payment. There is no limit on the amount a lender can give to a borrower, provided it does not exceed the total closing cost amount.

 

CFPB Asks Congress for Major Reforms that Reduce Agency's Independence

Mick Mulvaney, director of the Consumer Financial Protection Bureau, asked Congress to enact major reforms to reduce the agency's independence, HousingWire reported April 2. Mulvaney specifically targeted bureau funding, which he wants to fold into the congressional appropriations process; funding currently comes from the Federal Reserve.

 
Apr 04, 2018 12:30 PM

Investors Favor Suburban Offices

Investors want suburban office properties, spending $83.1 billion on acquisitions last year, a 2 percent increase from the year before, according to real estate services firm Colliers International, GlobeSt.com reported March 26. Conversely, investment in office properties in central business districts fell 21 percent last year to $48.8 billion.

 
Apr 04, 2018 12:30 PM

Barclays to Pay $2 Billion to Settle RMBS Fraud Charges

Barclays will pay the U.S. government $2 billion to settle charges it misled investors about the quality of mortgages in $31 billion in residential mortgage-backed securities that it sold in the lead up to the housing crisis, HousingWire reported March 29.

 
Apr 04, 2018 12:30 PM

Fannie, Freddie Single Mortgage-backed Security Arrives in June

The Federal Housing Finance Agency announced March 28 that Fannie Mae and Freddie Mac on June 3 will start issuing the long-awaited single mortgage-back security, called the uniform mortgage-backed security. The UMBS replaces TBA-eligible mortgage-backed securities; more than 90 percent of agency MBS trading occurs in the TBA market.

 
Apr 03, 2018 10:55 AM

New Appraisal Institute Book Examines Appraisers’ Role in Arbitration

Valuation professionals can serve as arbitrators, expert witnesses or consultants during the arbitration process and can provide valuable input from the preliminary hearing to final award, according to a new book published by the Appraisal Institute.

 
Mar 28, 2018 12:30 PM

CRE Prices, Deals Already Altered by Steel, Aluminum Tariffs: Reports

While President Trump’s tariffs on foreign steel and aluminum have yet to take effect, reports show they already are influencing deal negotiations, bottom lines and construction pricing for commercial real estate, National Real Estate Investor reported March 20.

 
Mar 28, 2018 12:30 PM

FHFA Working Paper Compares AMC, Non-AMC Appraisals

A new working paper produced by the Federal Housing Finance Agency explores how appraisals contracted through appraisal management companies compare to those contracted directly by lenders, DSNews reported March 26. The paper suggests that the appraisals are statistically very similar to each other.​

 
Mar 28, 2018 12:30 AM

Federal Agencies Approve Rule Doubling Appraisal Threshold for CRE

The Federal Deposit Insurance Corporation on March 20 approved a final rule that will double the appraisal threshold for commercial real estate transactions. The Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System are expected to adopt the rule soon.

 
Mar 26, 2018 08:00 AM

Appraisal Institute Opens Registration for 2018 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced that registration is open for its 2018 Annual Conference, July 30-Aug. 1, in Nashville, Tennessee.

 
Mar 20, 2018 08:00 AM

Outdoor Home Improvements Provide Greatest Value: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to prioritize outdoor renovation projects when seeking to increase their potential return on investment.

 
Mar 13, 2018 11:46 AM

Appraisal Institute Leads 34 Groups in Advancing Changes to Bank Regulation Bill

The nation’s largest professional association of real estate appraisers today led nearly three dozen valuation organizations in applauding revisions to a bipartisan Senate bill that would roll back many post-financial-crisis banking rules found in the Dodd-Frank Act.

 
Mar 07, 2018 12:30 PM

Report Shows Distress in CRE Market

Commercial real estate is in the late stable stage and showing signs of moderate distress, according to the State of the Real Estate Market report released March 1 by real estate advisory firm RCLCO, MBA NewsLink reported. However, the report noted there’s no impending downturn in real estate performance.​

 
Mar 07, 2018 12:30 PM

Fed Chair Testimony Reveals Support of Gradual Rate Hikes

During testimony before the House Financial Services Committee Feb. 27, Federal Reserve Chair Jerome Powell reiterated his commitment to stay the course on gradual rate hikes, Reuters reported. Powell noted how strong the economy has become, leading to speculation of a possible fourth rate increase this year.

 
Mar 07, 2018 12:30 PM

FHA Expands Foreclosure Relief Options

The Federal Housing Administration on Feb. 26 told mortgage servicers to expand options for eligible disaster victims impacted by recent natural disasters in California, Florida, Georgia, Louisiana, Puerto Rico, South Carolina, Texas and the U.S. Virgin Islands. The FHA unveiled a "Disaster Standalone Partial Claim" option to help struggling borrowers.

 
Feb 28, 2018 08:00 AM

Appraisers Key to Property Tax Appeals, Appraisal Institute Says

Highly qualified appraisers are able to assist homeowners with appeals of property taxes, which can be a homeowner’s largest annual expense, the nation’s largest professional association of real estate appraisers said today.

 
Feb 21, 2018 12:30 PM

CRE and Multifamily Originations Are Expected to Decline: Report Shows

Commercial and multifamily originations this year are expected to total around $549 billion, a 3 percent drop from last year, the Mortgage Bankers Association reported Feb. 15. Factors contributing to the decline include rising interest rates and pressure on capitalization rates.

 
Feb 21, 2018 12:30 PM

Office Vacancies Hit 10-year Low: Transwestern

Office vacancies in major U.S. metro areas reached a 10-year low in December, according to commercial real estate firm Transwestern, GlobeSt.com reported Feb. 12. The nationwide vacancy rate was 11.5 percent. The Dallas/Fort Worth area had the highest quarterly and annual net absorption rates.

 
Feb 21, 2018 12:30 AM

Fannie Mae Says Tax Cuts Hurt, $3 Billion in Treasury Assistance Needed

Fannie Mae will need $3.7 billion from the U.S. Treasury to prevent its net worth from becoming negative in March, Bloomberg reported Feb. 14. The government-sponsored enterprise hasn’t required taxpayer funding since 2012, but newly passed cuts to corporate taxes led to a $6.5 billion fourth-quarter loss.

 
Feb 14, 2018 12:30 PM

US Takes Lenders to Task Over VA Loans

The U.S. warned nine lenders that they may be kicked out of a top mortgage program unless they stop rapid refinancing of veterans’ mortgage loans, Bloomberg reported Feb. 8. A probe by Ginnie Mae found that some lenders are enriching themselves through repeated, unnecessary and costly refinancing actions.​

 
Feb 14, 2018 12:30 PM

FHFA Announces New Fannie, Freddie Housing Goals

The Federal Housing Finance Agency on Feb. 6 announced new housing goals for Fannie Mae and Freddie Mac for 2018-20. The goals for single-family homes remain largely unchanged, but the goals for multifamily properties call for increased mortgage purchases for properties with affordable units.

 
Feb 14, 2018 12:30 PM

CFPB Strategic Plan Shows Limited Responsibilities and Enforcement Goals

The Consumer Financial Protection Bureau on Feb. 12 released its five-year strategic plan that states its goal is to “fulfill the Bureau’s statutory responsibilities, but go no further.” The plan draws directly from the Dodd-Frank Act and refocuses the CFPB’s mission as regulating consumer financial products and services under existing federal law.

 
Feb 07, 2018 12:30 PM

Massachusetts Has Most LEED-certified Space Per Capita: USGBC

Massachusetts topped the list of states with the greatest amount of green, reporting 130 LEED certifications that equate to 4.48 square feet of LEED-certified space per resident, the U.S. Green Building Council reported Jan. 31. New York and Illinois rounded out the top three on the list.

 
Feb 07, 2018 12:30 PM

FHFA Releases 4-year Strategic Plan

The Federal Housing Finance Agency on Jan. 29 released its strategic plan for 2018-22, which calls for safe and sound operation of its regulated entities, ensuring liquidity and accessibility in housing finance and managing its conservatorship of Fannie Mae and Freddie Mac.

 
Feb 07, 2018 12:30 PM

Appeals Court Reverses Itself, Says CFPB Structure is Constitutional

The D.C. Circuit Court of Appeals on Jan. 31 ruled that the Consumer Financial Protection Bureau is constitutionally structured, reversing a 2016 decision in which the court ruled that the CFPB's structure gave the director too much power — more than any other government agency, ABA Banking Journal reported.

 
Jan 31, 2018 12:30 PM

Supreme Court Hops into Property Rights Case

The Supreme Court will hear a case in which Weyerhaeuser Co. is challenging the state of Louisiana’s power to potentially erase $34 million in land value by designating 1,500 privately owned acres of forest land as critical habitat for an endangered frog species, Roll Call reported Jan. 23.

 
Jan 31, 2018 12:30 PM

New Pennsylvania Law Requires Licenses for all Non-bank Servicers

A new Pennsylvania law authorizes the Department of Banking and Securities to mandate that non-bank servicers become licensed to operate in the state, HousingWire reported Jan. 24. Gov. Tom Wolf on Dec. 22 signed SB 751, which requires lenders to be licensed by June 30.

 
Jan 31, 2018 12:30 PM

Leaked CFPB Memo Reveals New Mission, End of Regulation by Enforcement

A leaked Jan. 23 memo attributed to the Consumer Financial Protection Bureau’s Acting Director, Mick Mulvaney, said the bureau’s mission going forward will be ending regulation by enforcement and its focus will shift from protecting consumers to protecting the industry, HousingWire reported.

 
Jan 24, 2018 12:30 PM

AG Targeting Pot Protection Laws Unnerves Real Estate Investors: Report

U.S. Attorney General Jeff Sessions’ decision to rescind Obama-era policy that allowed legalized marijuana to flourish without federal intervention has left investors — including those who launched real estate investment trusts — confused as to official policy and its effect on their portfolio valuations, National Real Estate Investor reported Jan. 12.

 
Jan 24, 2018 12:30 PM

Senate Confirms Powell as Federal Reserve Chair

The Senate on Jan. 23 confirmed Jerome Powell as chairman of the Federal Reserve, DSNews reported. Powell will take over from Janet Yellen when her term expires in February. Powell said he supports current Fed policies that call for gradual interest rate increases and has voiced his support of Dodd-Frank.​

 
Jan 24, 2018 12:30 PM

Fed Beige Book Shows Mixed Results for Residential, Commercial Sectors

Most Fed districts reported low housing activity due to constrained housing inventory — an ongoing concern — while non-residential activity continued to experience slight growth, the Fed reported Jan. 17 in its newest Beige Book.

 
Jan 17, 2018 12:30 PM

Fed Mulls Significant Policy Changes

Markets are performing well, but Fed officials reportedly are concerned about another recession and are contemplating significant policy changes, including eliminating the 2 percent inflation target, CNBC reported Jan. 10. Another option under consideration: price-level targeting, where interest rates would remain lower for longer periods and avoid zero altogether.

 
Jan 17, 2018 12:30 PM

FDIC Survey Finds Fewer High-risk Banks, Newer Credit Risks

About one in 10 banks are considered high credit risk, a significant drop from 2010 when 42 percent of banks were high-risk, the Federal Deposit Insurance Corporation reported Jan. 10 in its credit survey, according to ABA Banking Journal. However, the survey identified new credit risks, including some affecting commercial real estate.

 
Jan 17, 2018 12:30 PM

Louisiana Real Estate Appraisers Board Seeks Dismissal of FTC Complaint

The Federal Trade Commission announced Jan. 10 that it will hear oral arguments next month on motions filed by the FTC and the Louisiana Real Estate Appraisers Board. The LREAB in November filed a motion to dismiss the complaint filed against it by the FTC, while the FTC filed motions for partial summary judgment and for opposition to the LREAB's motion to dismiss.

 
Jan 10, 2018 12:30 PM

Solid CRE Market Expected in 2018: MBA

Seventy-eight percent of commercial/multifamily firms expect originations to increase this year, and approximately half reportedly are planning to increase originations by at least five percent, according to the Mortgage Bankers Association’s 2018 CREF Outlook Survey released Jan. 4.

 
Jan 10, 2018 12:30 PM

Net Lease Cap Rates Expected to Rise, Survey Reveals

Net lease cap rates are expected to increase this year anywhere from 25 basis points to 50 or more, according to respondents who participated in a survey conducted by commercial real estate firm The Boulder Group, GlobeSt.com reported Jan. 3.

 
Jan 10, 2018 12:30 PM

FHFA Allows Fannie, Freddie to Hold Reserves for First Time Since 2008

The Federal Housing Finance Agency allowed the government-sponsored enterprises to each retain $3 billion in capital, a policy change agreed to in late December that enables Fannie Mae and Freddie Mac to maintain reserves for the first time since 2008, HousingWire reported Dec. 29.

 
Jan 04, 2018 08:00 AM

Appraisal Institute Officers Outline 2018 Plans: Valuation Magazine

The Appraisal Institute's 2018 elected officers discuss the opportunities and challenges facing the real estate valuation profession – and their plans to address these issues – in a wide-ranging article published in Valuation magazine’s fourth quarter 2017 issue.

 
Dec 28, 2017 08:00 AM

Jim Murrett to Become President of Appraisal Institute on Jan. 1

James L. Murrett, MAI, SRA, of Hamburg, New York, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 19,000 professionals in almost 60 countries.

 
Dec 21, 2017 12:35 PM

New Appraisal Institute Book Addresses Subdivision Valuation Practices

Subdivision analysis is a challenging area of appraisal practice because of the complex timeline concepts and value estimates involved, according to a new book published by the Appraisal Institute.

 
Dec 20, 2017 12:30 PM

Demand for Student Housing to Stay Strong, Census Data Show

Estimates show that by 2035 there will be 31 million people in the U.S. aged 18 to 24, which will create ongoing demand for student housing, according to data from the U.S. Census Bureau, National Real Estate Investor reported Dec. 12.

 
Dec 20, 2017 12:30 PM

Tech Firms Have 'Outsized' Effect on Premium Office Space: JLL

Technology companies are having an "outsized" impact on the nation's most desirable office properties, supplanting finance and law firms as the typical lessees of premium space, according to commercial real estate services firm JLL, MBA NewsLink reported Dec. 13. Five of the top 10 costliest streets are in tech hubs.

 
Dec 20, 2017 12:30 PM

Connecticut Has Nation's Most Expensive Office Market: Report

Fairfield County, Connecticut, is the priciest office market in the U.S. with an average cost of $17,414 per workstation, according to the Office Space Across the World report released Dec. 8 by real estate services firm Cushman & Wakefield. Other top cities: San Francisco; New York; and San Jose, California.

 
Dec 20, 2017 08:00 AM

Valuing Flood-prone Buildings Poses Challenges: The Appraisal Journal

Remodel and repair of structures along coastlines and in flood zones requires valuation professionals to have extensive knowledge, according to an article published this week in The Appraisal Journal.​

 
Dec 13, 2017 12:30 PM

CoStar, Xceligent Engaged in Settlement Talks

Analytics firms CoStar and Xceligent are purported to be in advanced discussions to settle a year-long intellectual property lawsuit, Bisnow reported Dec. 6. A court order prohibits both parties from discussing a potential settlement of the suit in which CoStar accused Xceligent of stealing its proprietary data.

 
Dec 13, 2017 12:30 PM

Ginnie Mae Targets Lenders Who Prey on Veterans

Ginnie Mae announced Dec. 7 that it is going after lenders that pressure veterans into mortgage refinancing they don't need and that offer rates 1.5 points above market, Bloomberg reported. Ginnie Mae guarantees payment on $2 trillion in mortgage-backed securities, including loans made through the U.S. Department of Veterans Affairs.

 
Dec 13, 2017 12:30 PM

FHA to Stop Purchasing Loans with PACE Assessments

The Federal Housing Administration announced Dec. 7 that it would stop issuing mortgages on properties that include Property Assessed Clean Energy assessments. The decision is part of a broader effort to protect the agency's Single Family Mutual Mortgage Insurance Fund, which has a net worth of $25.6 billion.

 

GSEs Owe Billions; FHFA Fighting to Pay Much Less

Fannie Mae and Freddie Mac owe the government $7.7 billion by the end of the year, but their regulator, the Federal Housing Finance Agency, is negotiating with the White House to pay a significantly smaller sum to give the government-sponsored enterprises a buffer against future losses, Bloomberg reported Nov. 29.

 
Dec 06, 2017 12:30 PM

Bank Request for Appraisal Waiver has Huge Implications

A community bank in Tennessee has submitted a request to the Appraisal Subcommittee seeking a one-year waiver from appraisal regulation requirements to use a certified appraiser, the Appraisal Institute learned Nov. 29. If the waiver is approved, it would apply to all institutions, not just the requesting organization.

 
Dec 01, 2017 12:30 PM

Keeping Inflation Below 2 Percent is Major Fed Challenge, Yellen Says

Third quarter core inflation was 1.3 percent, up from 0.9 percent the second quarter, and keeping inflation under 2 percent is one of the Fed's biggest challenges, outgoing Federal Reserve Chair Janet Yellen told a New York University audience Nov. 21, MarketWatch reported.

 
Dec 01, 2017 12:30 PM

Banks Delayed Foreclosures to Influence Dodd-Frank, Research Shows

Banks servicing delinquent mortgages in 2009 and 2010 are alleged to have delayed foreclosure proceedings in electoral districts of then-members of the House Financial Services Committee to influence congressional action on Dodd-Frank, according to research from Georgetown University, Ohio State University, Rutgers University and the Federal Reserve in Chicago, MarketWatch reported.

 
Nov 17, 2017 08:00 AM

Appraisal Institute Seeks Presentation Proposals for 2018 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, is accepting proposals by Dec. 1 – just two weeks away – for presentations at the organization’s 2018 Annual Conference, July 30-Aug. 1, at the JW Marriott in Nashville, Tennessee.

 
Nov 10, 2017 08:00 AM

Appraisal Institute Premieres Land Valuation Seminar

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a seven-hour educational seminar on land valuation issues today in Chicago.

 
Nov 08, 2017 12:30 PM

Lenders Optimistic About Agriculture Despite Lower Profits: Survey

Eighty-two percent of agriculture lenders reported a decline in farm profitability during the past year, but a reported 84 percent loan-approval rate indicates optimism about the agriculture sector, according to the Summer 2017 Agricultural Lender Survey released Oct. 31 by the American Bankers Association and the Federal Agricultural Mortgage Corp.

 
Nov 08, 2017 12:30 PM

Trump Committed to Ending GSE Conservatorship: VP's Economist

The Trump administration is committed to ending conservatorship of Fannie Mae and Freddie Mac, according to Mark Calabria, the vice president's chief economist, HousingWire reported. Speaking at a housing conference Nov. 1, Calabria said the current conservatorship agreement for the government-sponsored enterprises leaves taxpayers too exposed to the mortgage market.

 
Nov 08, 2017 12:30 PM

Airbnb Drives Up Rents, Home Prices, Research Shows

Home-sharing service Airbnb contributes to an increase in both rents and home prices by making it financially viable for homeowners to refrain from selling their house or finding a long-term renter, further reducing the already limited supply of available properties, according to researchers at UCLA, MarketWatch reported Oct. 31.

 
Nov 06, 2017 08:00 AM

Appraisal Institute Unveils 'Green' Commercial Valuation Course

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, premiered a two-day educational course on valuation of green commercial properties last week in Nashville, Tennessee.

 
Nov 02, 2017 11:30 PM

Stop Penalizing Banks for Innocent Mortgage Mistakes: HUD

U.S. Department of Housing and Urban Development Secretary Ben Carson said he wants to stop penalizing big banks for “innocent” mortgage lending mistakes, Bloomberg reported. Speaking Oct. 23 at a Mortgage Bankers Association conference, Carson said he wants lenders to help lower-income borrowers without fear of being sued by the federal government.

 
Nov 01, 2017 11:30 PM

Older Americans Disrupting Rental Markets, Census Data Shows

The rate at which Americans aged 55 and older entered the rental market increased 28 percent between 2009 and 2015, while the rate for those aged 34 and younger rose only 3 percent during the same six-year period, according to U.S. Census Bureau data released Oct. 17, RENTCafe reported.

 
Nov 01, 2017 12:30 PM

Court Finds Subcontractor Guilty of CoStar Data Theft

A Pennsylvania court on Oct. 23 ruled in favor of analytics firm CoStar, which alleged that its competitor Xceligent stole propriety data by hiring subcontractor RE BackOffice to hack CoStar’s websites and copy its contents, Bisnow reported. The court ordered RE BackOffice to pay CoStar all profits it received from Xceligent.

 
Nov 01, 2017 12:30 PM

Federal Agencies Release Final Rule on Regulatory Capital Treatment

The U.S. Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation on Nov. 21 adopted a final rule to extend regulatory treatment applicable under the regulatory capital rules for certain items, including treatment of mortgage servicing assets.

 
Oct 31, 2017 08:00 AM

Homeowners Should Winterize Now, Appraisal Institute Says

The nation’s largest professional association of real estate appraisers today advised homeowners to winterize their properties now for cold weather ahead to improve comfort, reduce costs and potentially increase value.

 
Oct 25, 2017 12:30 PM

Freddie Mac Updates Appraisal Requirements for Settlement Dates

Freddie Mac announced Oct. 18 that it updated the Federal Home Loan Mortgage Corp's appraisal policies, eliminating the requirement that a new appraisal be obtained when the settlement date is 120 days following the note date. Sellers will now have to certify that the property value is not less than the appraised value as of the appraisal's effective date.

 
Oct 25, 2017 12:30 PM

AI Advises on Disaster Appraisal Exemptions, Collateral Risks

The Appraisal Institute on Oct. 25 advised real estate appraisers servicing areas affected by recent disasters that the exemption from appraisal requirements issued by federal bank regulatory agencies does not itself reduce collateral risks. Rather, regulated financial institutions are seeking greater flexibility in reviewing loan applications and loans held in portfolios.

 
Oct 25, 2017 12:30 PM

Agencies Ease Appraisal Requirements in Hurricane Disaster Areas

Acting in response to hurricanes Harvey, Irma and Maria, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union Administration and the Office of the Comptroller of the Currency announced Oct. 17 that they would temporarily ease appraisal requirements in major disaster areas.

 
Oct 18, 2017 12:30 PM

Fed Minutes Reveal Anticipated Rate Hike Despite Low Inflation

Federal Reserve meeting minutes released Oct. 11 revealed that some Fed officials expressed concern about low inflation rates but that a December rate hike is still anticipated, HousingWire reported. The minutes also noted that the Fed has started selling the mortgage-backed securities it acquired as part of its quantitative easing program.

 
Oct 18, 2017 12:30 PM

FEMA Slow to Map Flood Risks, Cabinet Agency Reports

The Federal Emergency Management Agency failed to map flood risks in a timely manner, giving homeowners the false impression that they don't need flood insurance, according to the U.S. Department of Homeland Security's internal watchdog, The Hill reported Oct. 9. FEMA currently has more than 240 mapping projects on hold.

 
Oct 18, 2017 12:30 PM

House Committee Considers Only Minor Changes to Dodd-Frank

When the House Financial Services Committee met Oct. 11, members discussed minor tweaks to the Dodd-Frank Act rather than the major changes suggested by President Trump, Bloomberg reported. The committee was slated to address about two dozen legislative proposals pertaining to financial regulations.

 
Oct 17, 2017 08:00 AM

Don’t Like Your Home’s Appraisal? Here’s What You Can Do

If consumers are unhappy with the appraisal of a home they’re buying or selling, they have options available to them, the president of the nation’s largest professional association of real estate appraisers said today.

 
Oct 11, 2017 12:30 PM

FHFA Implores Congress to Act on GSE Reform

Federal Housing Finance Agency Director Mel Watt on Oct. 3 told the House Financial Services Committee that the capital buffer for Fannie Mae and Freddie Mac will reach zero in less than three months without congressional action on housing finance reform, HousingWire reported. Future losses could require a taxpayer bailout.

 
Oct 11, 2017 12:29 PM

Net Lease Cap Rates Decline during Third Quarter

Retail, office and industrial net lease cap rates declined during the third quarter, marking a change from the two previous quarters during which they recorded increases, according to commercial real estate firm The Boulder Group, Commercial Property Executive reported Oct. 4.

 
Oct 11, 2017 12:29 PM

Wells Fargo Refunding Improper Mortgage Fees

Wells Fargo CEO Tim Sloan on Oct. 3 told the Senate Committee on Banking, Housing and Urban Affairs that the bank would refund borrowers who were improperly charged fees for mortgage rate lock extensions, HousingWire reported. Approximately 110,000 borrowers were charged nearly $98 million in fees between September 2013 and this past February.

 
Oct 04, 2017 12:30 PM

FHFA Seeks Input on 2018-22 Strategic Plan

The Federal Housing Finance Agency announced Sept. 27 that it is seeking feedback on its strategic plan for the fiscal years 2018-22. The plan addresses the FHFA's priorities as regulator of the Federal Home Loan Bank System and conservator of Fannie Mae and Freddie Mac. Input is due by Oct. 27.

 
Oct 04, 2017 12:30 PM

Fed Wants Rate Hikes Despite Weak Inflation

Federal Reserve Chair Janet Yellen on Sept. 26 said that the Fed should continue gradual rate increases even though the path of inflation remains in limbo, Reuters reported. Yellen said that the Fed may have been wrong about its inflation models and the strength of the labor market.

 
Oct 04, 2017 12:30 PM

Appraisal Threshold Comments Reveal Divide

The comment period on the proposed rule to increase the commercial real estate appraisal threshold level closed Sept. 28, and the federal bank regulatory agencies received 70 comments. The Appraisal Institute and the American Society of Farm Managers and Rural Appraisers jointly submitted their opposition to the proposed increase.

 
Sep 27, 2017 12:30 PM

Quantitative Easing Over, MBS Sales Begin, Fed Announces

The Federal Reserve announced Sept. 20 that it will begin monthly sales of the mortgage-backed securities it acquired as part of a policy known as quantitative easing, HousingWire reported. The Fed will start selling $4 billion in MBS per month, eventually reaching $20 billion per month.

 
Sep 27, 2017 12:30 PM

GSE Reform Coming Next Year, Treasury Says

The process of taking the government-sponsored enterprises out of conservatorship likely will begin next year — once the U.S. Department of the Treasury handles tax reform, Treasury Secretary Steven Mnuchin said during a Sept. 15 policy summit, HousingWire reported.

 
Sep 27, 2017 12:30 PM

ASC Releases Final Rule for AMC Fees; AI Reiterates Concerns

The Appraisal Subcommittee on Sept. 25 published the final rule on the Collection and Transmission of Annual Appraisal Management Company Registry Fees, which establishes the formula for transmitting registry fees to the ASC by states that elect to register and supervise AMCs. The Appraisal Institute reiterated its concern about the final rule.

 
Sep 26, 2017 08:00 AM

New Transportation Options Could Reshape Real Estate: Valuation

Innovations in transportation, like electric cars and “on demand” options, could significantly impact the valuation of real estate in the future, according to an article in Valuation magazine’s third quarter 2017 issue.

 
Sep 21, 2017 08:00 AM

Overhead Lines Have Little Impact on Property Values: The Appraisal Journal

Despite negative public perception, high-voltage overhead transmission lines have little impact on nearby property values, according to an article published this week in The Appraisal Journal.

 
Sep 20, 2017 12:30 PM

Brian Montgomery Nominated to Head FHA

President Trump on Sept. 13 nominated Brian Montgomery to serve as commissioner of the Federal Housing Administration, HousingWire reported. He awaits Senate confirmation. Montgomery previously served in this capacity under President George W. Bush, and the White House cited his prior success as a reason for the current nomination.

 
Sep 20, 2017 12:30 PM

Freddie Mac Reveals HARP Replacement

Freddie Mac on Sept. 9 unveiled its Enhanced Relief Refinance Mortgage, which will replace the Home Affordable Refinance Program for mortgage applications received on or after Nov. 1, 2018, Mortgage News Daily reported. The program will have no loan-to-value limit for fixed-rate loans, and a maximum 105 LTV for adjustable-rate mortgages.

 
Sep 20, 2017 12:30 PM

Ginnie Mae Investigates Lenders for Targeting Military Members

Ginnie Mae is investigating allegations that lenders pressured current military members and veterans into unnecessary mortgage refinancing in order to reap high fees from the process, Bloomberg reported Sept. 14. The loans in question are tied to Ginnie securities, which support loans made through the U.S. Department of Veterans Affairs.

 
Sep 13, 2017 12:30 PM

Fed Beige Book Shows Mixed Activity Across Districts

Residential construction increased in many Fed districts in July and August while sales activity decreased during those months, the Federal Reserve reported Sept. 6 in its latest Beige Book. Commercial construction also grew, and sales activity showed a slight increase.

 
Sep 13, 2017 12:30 PM

Hurricane Harvey, Irma Damage Could Reach $290 Billion: Report

Hurricane Harvey is on track to be the nation’s costliest weather disaster, causing $190 billion in damage, according to a Sept. 11 report from AccuWeather. Hurricane Irma is not far behind, causing an estimated $100 billion in damage.

 
Sep 13, 2017 12:30 PM

National Flood Insurance Program Gets 3-month Extension

President Trump on Sept. 8 signed a three-month extension to the National Flood Insurance Program, extending it through Dec. 8, HousingWire reported. The extension gives Congress more time to come up with a long-term financial solution to the program, which the Congressional Budget Office said is short $1.4 billion.

 
Sep 07, 2017 08:00 AM

Appraisal Institute Joins 35 Groups Seeking to Halt Appraisal Waivers

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, on Wednesday joined with nearly three dozen appraiser organizations in asking Congress to call on the Federal Housing Finance Agency to prevent Freddie Mac and Fannie Mae from issuing appraisal waivers.​

 
Sep 06, 2017 12:30 PM

Most Hurricane Victims Lack Flood Insurance: Consumer Group

About 80 percent of property owners impacted by Hurricane Harvey don't have flood insurance, according to the Consumer Federation of America, USA Today reported Aug. 29. And research firm CoreLogic estimated that nearly 1.2 million homes were built in areas with high/moderate flood risk but outside zones where flood insurance is required.

 
Sep 06, 2017 12:30 PM

AI Guide Note Can Help Appraisers in Disaster Areas

As post-hurricane recovery efforts continue in Texas and Louisiana, the Appraisal Institute on Sept. 6 reminded appraisers assisting property owners and lenders in communities affected by Hurricane Harvey that they can find guidance in AI Guide Note 10: Development of an Opinion of Market Value in the Aftermath of a Disaster.

 
Sep 06, 2017 12:30 PM

SBA Seeks Appraisers to Aid Harvey Recovery Efforts

The U.S. Small Business Administration announced Sept. 5 that it is seeking appraisers and other professionals to help process an extraordinary number of disaster loan applications resulting from Hurricane Harvey. SBA is the federal government's primary source of lending to help homeowners, renters, businesses and nonprofit organizations recover from disasters.

 
Aug 30, 2017 12:30 PM

Cap Rates Steady in Most Sectors: CBRE

Cap rates and returns were steady during the first half of the year and are expected to remain that way during the second half, according to the North America Cap Rate Survey from commercial real estate firm CBRE, GlobeSt.com reported Aug. 24.

 
Aug 30, 2017 12:30 PM

Regulators Propose Basel III Delay

The Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. on Aug. 23 issued a notice of proposed rulemaking to delay Basel III implementation for mortgage servicing assets for institutions with less than $250 billion in total consolidated assets, MBA NewsLink reported.

 
Aug 30, 2017 12:29 PM

Zillow 'Zestimate' Lawsuit Dismissed

Zillow on Aug. 23 won dismissal of a federal lawsuit that challenged the accuracy of its "Zestimate" home valuation tool, Reuters reported. The lawsuit alleged that Zestimates constituted illegal appraisals and undervalued properties making them harder to sell. The court ruled that Zestimates were simply a starting point.

 
Aug 25, 2017 03:24 PM

Appraisal Institute Accepts CEO’s Resignation

The Board of Directors of the nation’s largest professional association of real estate appraisers accepted the resignation of Chief Executive Officer Frederick H. Grubbe, MBA, CAE, on Thursday after more than 10 years of service.

 
Aug 25, 2017 08:00 AM

Jeff Sherman Elected 2018 Appraisal Institute Vice President

Jefferson L. Sherman, MAI, AI-GRS, of Highland Heights, Ohio, was elected 2018 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Chicago.

 
Aug 23, 2017 12:30 PM

PACE Loan Defaults on the Rise, Analysis Shows

Defaults on loans that are part of the Property Assessed Clean Energy program have increased, according to a Wall Street Journal analysis of tax data in 40 California counties, Dow Jones Newswire reported Aug. 15. Data shows roughly 1,100 borrowers missed two consecutive payments through June, compared to 245 last year.

 
Aug 23, 2017 12:30 PM

Fannie Mae Eases Appraisal Requirements on Lower LTV Mortgages

Fannie Mae announced Aug. 18 that lenders can forego appraisals on some loans with low loan-to-value ratios as part a larger program that waives property inspection requirements on lower-LTV mortgages. Fannie Mae said it will continue to require full appraisals on most mortgages.

 
Aug 23, 2017 12:30 PM

Freddie Mac OKs Appraisal Alternative for Some Mortgages

Freddie Mac announced Aug. 18 that it will utilize automated collateral evaluations to determine when an automated appraisal can supplant a traditional appraisal for new home mortgages and refinancing. ACE will be available Sept. 1 and use data from multiple listing services, public records and historical home values to determine collateral risks.

 
Aug 16, 2017 11:30 PM

GSEs Fail Stress Test, May Require Future Bailout

The Federal Housing Finance Agency reported Aug. 7 that government-sponsored enterprises Fannie Mae and Freddie Mac failed stress tests and may need as much as $100 billion in assistance should another financial crisis hit, Bloomberg reported.

 

Lender PHH Fined $74M Over Defective Mortgages

Mortgage lender PHH will pay more than $74 million to resolve claims that it generated defective loans that were purchased by Fannie Mae and Freddie Mac, the U.S. Department of Justice announced Aug. 8, Reuters reported. The settlement is the latest between DOJ and lenders over faulty loans issued during the financial crisis.

 
Aug 16, 2017 12:30 PM

Wells Fargo to Pay $108M Over Veteran Refinance Fees

Wells Fargo agreed to pay $108 million to the federal government to settle accusations that it overcharged veterans who refinanced their mortgages, HousingWire reported Aug. 4. The bank was alleged to have collected unauthorized fees, which would have made some loans ineligible for Department of Veterans Affairs guarantees.

 
Aug 09, 2017 08:00 AM

Appraisal Institute Book Helps Value ‘Green’ Commercial Real Estate

Commercial real estate valuation professionals must master a new set of terminology and concepts to identify and understand “green” property characteristics and to recognize their effects on market demand and value, according to a new book published by the Appraisal Institute.

 

Interest Rates Won't Be Set by LIBOR after 2021, FCA Head Says

The scandal-plagued London Interbank Offered Rate, which is used worldwide to set rates for mortgages, loans and other financial agreements, will be replaced by the end of 2021, CNBC reported July 27. The head of the Financial Conduct Authority said LIBOR will be replaced with a more reliable alternative.

 
Aug 02, 2017 12:30 AM

Feds to Raise Interest Rates, Unload Mortgage Bonds

The Federal Reserve is expected to reaffirm its commitment to increasing interest rates this year and begin selling mortgage bonds to gradually unwind its $4.5 trillion balance sheet, MarketWatch reported July 26. Job creation and economic growth has the Fed optimistic, but consumer spending is a concern.

 
Aug 02, 2017 12:30 AM

FTC Grants Stay of its Complaint Over Louisiana Appraisal Laws

The Federal Trade Commission, which alleged May 31 that Louisiana's laws mandating how appraisal management companies pay appraisers amount to price-fixing, on July 28 granted the Louisiana Real Estate Appraiser Board's request for a stay to allow the state to repeal its laws and implement new policies, HousingWire reported.

 
Jul 26, 2017 12:30 PM

Federal Banking Agencies Propose Raising CRE Appraisal Threshold

The Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency on July 19 issued a notice of proposed rulemaking to increase to $400,000 the threshold for commercial real estate transactions requiring an appraisal.

 
Jul 26, 2017 12:30 PM

Quicken Loans Fined $11 Million for Appraisal Tampering

A federal court found that Quicken Loans provided appraisers with inflated estimates of property values to secure higher-value loans, The Washington Post reported July 19. More than 2,750 plaintiffs filed a class-action suit claiming their loans were underwater from the start.

 
Jul 26, 2017 12:30 PM

FTC Alleges Louisiana Appraisal Law Restricts Competition

The Federal Trade Commission alleged that Louisiana’s new law mandating how appraisal management companies pay appraisers amounts to price-fixing and rejected the state’s request to withhold enforcement actions so it could repeal the law and implement new policies, HousingWire reported July 25.

 
Jul 19, 2017 12:30 PM

Single-Tenant Net Lease Cap Rates Increase, Real Estate Firm Reports

Single-tenant net lease cap rates increased across all asset classes in the second quarter, with cap rates for retail and office sectors increasing to 6.23 percent and 7.14 percent, respectively, according to commercial real estate firm, Boulder Group, MBA NewsLink reported July 13.

 
Jul 19, 2017 12:30 PM

FHFA Proposes Housing Goals for Fannie, Freddie

The Federal Housing Finance Agency on July proposed 2018-20 housing goals for Fannie Mae and Freddie Mac, which create new single-family and multifamily benchmarks for the government-sponsored enterprises. The current goals expire at the end of 2017, and comments on the new ones are due by Sept. 5.

 
Jul 19, 2017 12:30 PM

US Metro Markets Embracing Green Office Space, Study Shows

Nine of the top 10 cities in the annual Green Building Adoption Index have implemented energy benchmarking ordinances, and the number of office buildings with green certifications has risen, Commercial Property Executive reported July 10. The Index was produced by CBRE and Maastricht University in collaboration with the U.S. Green Building Council.

 
Jul 12, 2017 12:30 PM

Report Shows Firms Slow to Adopt Lease Accounting Standards

Nearly 25 percent of affected companies have not begun implementing new lease accounting standards that were released 18 months ago and that take effect December 2018, according to real estate services firm CBRE and consultant PwC, MBA NewsLink reported July 6. The standards require lessees to reclassify their leases.

 
Jul 12, 2017 12:30 PM

VA Will Demolish or Reuse Vacant Properties within 2 Years

The U.S. Department of Veterans Affairs announced June 20 that it will demolish or plan the reuse of all its vacant buildings within 24 months. The VA currently holds 430 vacant or mostly vacant buildings with an average age of 60 years old that annually cost taxpayers more than $7 million to maintain.

 
Jul 12, 2017 12:30 PM

Many Financial Regulatory Changes OK without Congress: Treasury

An official with the U.S. Department of the Treasury stated on June 22 that most of the 100-plus regulatory changes it's proposing can be made without congressional approval, MarketWatch reported. The official said Treasury needs to manage regulatory risk in preparation for the next financial crisis.

 
Jul 12, 2017 08:00 AM

Valuation Professional Receives Unique Honor from Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced it has – for the first time – bestowed its residential review designation to a previously non-Designated member.

 
Jun 29, 2017 08:00 AM

Evolving Retail Landscape Challenges Appraisers: Valuation Magazine

As retailers quickly evolve to stay competitive with ecommerce, appraisers should understand how these changes can affect the valuation of retail properties, according to an article published in Valuation magazine’s second quarter 2017 issue.

 
Jun 27, 2017 11:15 AM

Cart Paths Can Devalue Golf Course Condos: The Appraisal Journal

Golf course condominiums located near cart paths – especially those close to tee boxes and putting greens – can sell for lower prices than other golf course condos, according to an article published this week in The Appraisal Journal.

 
Jun 21, 2017 11:30 PM

Trump Administration Wants Wall Street Rules Overhauled

The Trump administration wants to ease but not eliminate rules that were imposed on Wall Street by the Dodd-Frank Act, according to a report released June 12 by the U.S. Department of the Treasury, Bloomberg reported. Included in the report is a request to reduce the power of the Consumer Financial Protection Bureau.

 

Disney Alleges 'Excessive' Property Tax Assessments

Walt Disney Parks and Resorts filed suit over "excessive" 2016 property tax assessments, alleging that the appraiser's assessment of Magic Kingdom, Epcot and Hollywood Studios exceeded the properties' fair market value and incorrectly included the value of some intangible property, the Orlando Sentinel reported June 13.

 
Jun 21, 2017 12:30 PM

Fed Raises Rates, Plans to Reduce Bond Holdings

The Federal Reserve on June 14 increased interest rates for the second time in three months and committed to reducing holdings of bonds and other securities this year, Reuters reported. The Fed's move shows confidence in the U.S. economy and job market.

 
Jun 14, 2017 12:30 PM

Report Shows May CMBS Issuance Up, Delinquencies Down

Commercial mortgage-backed securities issuance increased in May while the delinquency rate dropped, according to analytics firm Trepp and the Kroll Bond Rating Agency, MBA NewsLink reported June 7. May CMBS issuance was $8.1 billion — more than double April's $3.7 billion — bringing its year-to-date total to $24.3 billion.

 
Jun 14, 2017 12:30 PM

CRE Prices Return to Post-election Slump, Report Shows

Commercial property prices declined 10 basis points in May, marking a return to the market flattening the CRE sector experienced immediately following November's presidential election, according to online commercial real estate broker Ten-X, MBA NewsLink reported June 8.

 
Jun 14, 2017 12:30 PM

Fannie Mae Eases Debt-to-Income Requirement

Fannie Mae announced June 6 that it will ease its debt-to-income requirements, raising the ceiling from 45 percent to 50 percent starting July 29, a move that's expected to make it easier for more individuals — particularly millennials with significant student loan debt — to qualify for a mortgage. ​

 
Jun 12, 2017 08:00 AM

Appraisal Institute Honors 14 National Award Winners

William T. Anglyn, MAI, of Marietta, Georgia; and Donald S. Boucher Sr., SRA, of Orange, Virginia, were honored Saturday with the Appraisal Institute’s Lifetime Achievement Award and Woody R. Fincham, SRA, AI-RRS, of Charlottesville, Virginia, was named the recipient of the Outstanding Service Award during the International Valuation Conference in Ottawa, Ontario.

 
Jun 09, 2017 08:00 AM

Appraisers from around World Gather in Ottawa for International Valuation Conference

More than 600 appraisers from around the world assembled yesterday in the capital city of Canada for one of the largest networking and professional development opportunities within the real estate valuation profession.

 
May 31, 2017 12:30 PM

Trump Budget Seeks Significant CFPB Funding Cuts

President Trump's proposed budget released May 23 calls for significant cuts to the Consumer Financial Protection Bureau and shifts appropriations from the Federal Reserve to Congress, HousingWire reported. The budget includes a $145 million cut to the CFPB next year, with cuts rising to more than $700 million by 2021.

 
May 31, 2017 12:30 PM

AI Expresses Concern about Possible Appraisal Waivers

The Appraisal Institute was one of several organizations that met with officials from Fannie Mae and Freddie Mac on May 23 to discuss concerns about initiatives under consideration that would waive appraisals in purchase and refinance loan transactions. AI followed up its meeting with a letter to the government-sponsored enterprises reiterating its position against the waiver.

 
May 31, 2017 12:30 PM

Fiduciary Rule Excluding Appraisals Takes Effect Soon

Major parts of the U.S. Department of Labor's fiduciary rule will take effect June 9, Investment News reported May 23. While the final rule excludes appraisals and fairness opinions, as requested by the Appraisal Institute, the DOL said it would address those issues later, but did not provide specifics.​

 
May 24, 2017 11:30 PM

Dodd-Frank Overhaul Is Unlikely, McConnell Says

Senate Majority Leader Mitch McConnell told Bloomberg News May 16 that Congress is unlikely to make major changes to the Dodd-Frank Act due to lack of support from Democrats. McConnell specifically cited the need to help community banks because he believes they are unduly harmed by the legislation.

 
May 24, 2017 11:30 PM

More Banks Restrict CRE Lending, Fed Reports

Banks have tightened most credit policies on commercial real estate loans over the past year, the Federal Reserve reported May 12 in its Senior Loan Officer Opinion Survey on Bank Lending Practices, MBA NewsLink reported. Reasons cited for the tightening include uncertainty over CRE property prices, cap rates and vacancy rates.

 
May 24, 2017 12:30 PM

Freddie Mac Reports Strong Multifamily Fundamentals

Multifamily fundamentals remain strong, showing an annual increase in eight of the 14 major metropolitan markets that Freddie Mac tracks in its Multifamily Apartment Investment Market Index, which was updated May 16. Markets with the biggest index gains were Washington, D.C.; Atlanta; and Houston.

 
May 16, 2017 08:00 AM

Appraisal Institute Improves Tool to Aid Valuation of ‘Green’ Home Features

The nation’s largest professional association of real estate appraisers today released an updated research tool to assist appraisers and users of appraisal services in understanding market reactions to green and energy efficient homes.

 
May 11, 2017 08:00 AM

Low-cost Landscaping Can Boost Home Values: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today reminded homeowners that inexpensive landscaping improvements can add to home values and help increase salability.

 
May 10, 2017 12:30 PM

Fed Leaves June Rate Hike on the Table

The Federal Reserve on May 3 kept interest rates unchanged and left open the possibility of a June rate hike, USA Today reported. The Fed cited job gains and reduced unemployment as causes for optimism, and said slowing first quarter economic growth is likely transitory.

 
May 10, 2017 12:30 PM

House GOP Calls for Further Delay on Fiduciary Rule

Congressional Republicans are calling for an extended delay of the U.S. Department of Labor's fiduciary rule, which would, among other things, define who is considered a financial adviser, according to a letter submitted to Labor Secretary Alexander Acosta and signed by 124 House Republicans, Investment News reported May 2.

 
May 10, 2017 12:30 PM

Report Shows CRE Valuations on the Rise

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May 03, 2017 12:30 PM

GSEs Should Maintain Funds, Community Bankers Say

The Independent Community Bankers of America on April 25 released a white paper calling for the government-sponsored enterprises to keep their capital reserves instead of the current plan of drawing them to zero in 2018, HousingWire reported. ICBA supports the GSEs maintaining their funds to avoid a potential bailout in the future.

 
May 03, 2017 12:30 PM

Tennessee Governor Signs Law Protecting Appraisers

On April 28, Tennessee Gov. Bill Haslam signed into law HB 376 that will establish a new statute of limitations regarding civil lawsuits and disciplinary actions against real estate appraisers.

 
May 03, 2017 12:30 PM

AI Lobbies to Modernize Appraisal Regulatory Process

More than 100 Appraisal Institute professionals will go to Capitol Hill May 4 to urge congressional support for the modernization of the appraisal regulatory process.

 
Apr 26, 2017 08:00 AM

Appraisal Institute Supports Bill Enhancing Consumer Protections for PACE Loans

The Appraisal Institute joined more than two dozen other real estate organizations Monday in expressing support for federal legislation that would enhance consumer protection requirements for Property Assessed Clean Energy loans, known as PACE loans.

 
Apr 26, 2017 12:30 AM

Beige Book Shows Varied Commercial, Residential Activity

Commercial and residential real estate activity was mixed in most districts in March, the Federal Reserve reported April 19 in its newest Beige Book. Office construction was restrained across most markets while apartment construction was strong. On the residential side, districts reported a shortage of both single-family homes and condos.

 
Apr 26, 2017 12:30 AM

House Introduces Another Alternative to Dodd-Frank, CFPB

The House Financial Services Committee on April 19 unveiled the updated version of the Financial CHOICE Act, which would replace the Dodd-Frank Act and significantly alter the Consumer Financial Protection Bureau, HousingWire reported. A hearing to discuss the Act is scheduled for this week.

 
Apr 26, 2017 12:30 AM

Appraisal Institute Supports Legislation to Modify PACE Loans

The Appraisal Institute was among more than two dozen real estate trade organizations April 24 announcing their support of S 838/HR 1958, the Protecting Americans from Credit Entanglements Act of 2017 – legislation that would modify consumer protection requirements for Property Assessed Clean Energy loans, known as PACE loans.

 
Apr 19, 2017 12:30 PM

Industrial is becoming the hottest commercial real estate sector thanks to e-commerce trends causing atypical growth in rents and property values, according to analytics firm MSCI, Commercial Property Executive reported April 13. Industrial prope

Industrial is becoming the hottest commercial real estate sector thanks to e-commerce trends causing atypical growth in rents and property values, according to analytics firm MSCI, Commercial Property Executive reported April 13. Industrial property values last year rose 11.7 percent compared to the 7.7 percent CRE average.

 
Apr 19, 2017 12:30 PM

Reis Reports Steady Retail Sector Despite Store Closures

Store closures have had little overall effect on retail real estate statistics, with rents increasing slightly across most retail properties, including malls and neighborhood and community shopping centers, according to the Retail Sector Trends report from commercial real estate data firm Reis, MBA NewsLink reported April 13.

 
Apr 19, 2017 12:30 PM

CRE Executives Expect Cap Rates to Increase

Sixty-seven percent of commercial real estate executives said they expect cap rates to increase over the next 12 months because of rising interest rates, according to the National Real Estate Investor’s Office CRE Market Study released April 10. Only 16 percent said they expect cap rates to decrease. ​

 
Apr 18, 2017 08:00 AM

Lower-cost Home Renovations Offer Best Value: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advocated that homeowners pursue smaller-scale renovation projects in order to maximize their potential return on investment.

 
Apr 12, 2017 11:30 PM

Infrastructure Bill May Include HUD Funding, Agency Reports

The Trump administration will seek to add housing funding to its upcoming infrastructure spending bill, according to U.S. Department of Housing and Urban Development Secretary Ben Carson, The Washington Post reported April 3. President Trump reportedly is considering cutting $6 billion from the HUD budget.​

 
Apr 12, 2017 12:30 PM

Trump to CEOs: Dodd-Frank is Target for Major Overhaul

President Trump told a gathering of CEOs at the White House April 4 that the era of "horrible regulations" is coming to an end, specifically citing the Dodd-Frank Act as a target for regulatory reform, HousingWire reported. The president said he sees Dodd-Frank as an impediment to the banking industry.​

 
Apr 12, 2017 12:30 PM

Chase Says Servicing Rule Changes May Add $300B in Mortgages

JPMorgan Chase sees the possibility of generating an additional $300 billion in mortgages annually if the U.S. Department of the Treasury and government agencies established service standards to simplify mortgage origination and servicing, according to Chase CEO Jamie Dimon, HousingWire reported April 4.

 
Apr 06, 2017 08:00 AM

New Appraisal Institute Book Addresses Challenges of Valuing Mobile Homes

The popularity of mobile homes and recreational vehicles will continue to grow as manufacturers offer new design concepts and aging baby boomers look for affordable housing and travel options, according to a new book by the Appraisal Institute.

 
Apr 04, 2017 01:58 PM

Appraiser Independence Critical to Veterans’ Home Loans, Appraisal Institute Tells Congress

The nation’s largest professional association of real estate appraisers today urged Congress to protect the independence of real estate appraisers in the federal program that provides housing loans to military veterans. The Appraisal Institute testified at a Congressional subcommittee hearing on Capitol Hill.

 
Mar 28, 2017 08:00 AM

Fracking Can Help, Harm Real Estate Values: The Appraisal Journal

Hydraulic fracturing, or fracking, could make land more valuable due to mineral interests, but environmental concerns could negatively affect land values, according to an article published this week in The Appraisal Journal.

 
Mar 22, 2017 12:30 PM

Fed Implements First of Three Expected Rate Hikes

The Federal Reserve on March 16 raised its benchmark rate, signaling its commitment to three increases per year, National Real Estate Investor reported. The Fed cited an improving job market, moderate economic growth and increasing inflation as reasons for the hike, which isn't expected to significantly disrupt real estate capital markets.

 
Mar 22, 2017 12:30 PM

Real Estate Markets Suffer Without Flood Insurance Program: FEMA

The Senate Banking Committee on March 14 held the first of several hearings on reauthorizing the National Flood Insurance Program. Roy E. Wright, deputy associate administrator for insurance and mitigation for the Federal Emergency Management Agency, testified that failure to reauthorize NFIP could hurt real estate and mortgage markets.

 
Mar 22, 2017 12:30 PM

Appraisal Institute Urges Caution on Appraisal Threshold

The Appraisal Institute on March 21 responded to the Federal Financial Institutions Examination Council's Joint Report to Congress by cautioning federal regulators against increasing from $250,000 to $400,000 the appraisal threshold for commercial real estate transactions. The report indicated the threshold for residential real estate transactions would remain unchanged.

 
Mar 21, 2017 02:12 PM

Appraisal Institute Urges Caution on Appraisal Thresholds

The nation’s largest professional association of real estate appraisers today cautioned federal regulators over increasing the transaction values requiring an appraisal, also known as the appraisal threshold.​

 
Mar 21, 2017 08:00 AM

Millennials Driving Multifamily Sector Boom: Valuation Magazine

Millennials have postponed home buying and are now in their peak renting years, creating a demand for multifamily properties that has pushed the sector to record-growth levels with no sign of slowing, according to an article published in Valuation magazine’s first quarter 2017 issue.

 
Mar 15, 2017 12:30 PM

Agency Report Delayed, Appraisal Questions Unanswered

Questions concerning appraisals and appraisal threshold levels remain unanswered more than two years after outreach and requests for comments were initiated by federal bank regulatory agencies regarding the final report they're required to submit to Congress that outlines potential regulatory relief for banks, the Appraisal Institute reported March 15.

 
Mar 15, 2017 12:30 AM

Watchdog Says HUD Lacks Oversight for Down Payment Programs

Borrowers and the Federal Housing Administration insurance fund face "unnecessary risk" due to a lack of sufficient oversight into borrower-financed down payment assistance programs for FHA-insured loans, according to a report from the Office of Inspector General for the U.S. Department of Housing and Urban Development, HousingWire reported March 8.

 
Mar 15, 2017 12:30 AM

White House Financial Reforms Focus on Guidance, Not Rules

The White House's initial efforts at financial regulatory reform will focus on reversing guidance rather than formal rule-making because a significant amount of regulation during the Obama administration was made by guidance, according to the vice president's chief economist, Bloomberg reported March 7.

 
Mar 14, 2017 08:00 AM

Documentation is Key to Tax Appeals, Appraisal Institute Says

Homeowners considering a property tax appeal can make the process less burdensome by preparing themselves with the proper documentation, the nation’s largest professional association of real estate appraisers said today.

 
Mar 08, 2017 12:30 PM

Treasury Expands Money Laundering Investigation over Home Sales

Title insurance companies in designated geographic areas are now required to identify the person behind shell companies that pay cash for high-end U.S. residential real estate as part of the U.S. Department of the Treasury's Financial Crimes Enforcement Network's expanded investigation into money laundering, HousingWire reported Feb. 24.

 
Mar 08, 2017 12:30 PM

Fannie, Freddie Reportedly Could Require another Bailout

Fannie Mae and Freddie Mac continue to lose capital because the U.S. Department of the Treasury takes most of the government-sponsored enterprises' earnings, an action that could necessitate another bailout, Politico reported Feb. 27. The Trump administration's plans for corporate tax reform could cause the GSEs to take large write-downs.

 
Mar 08, 2017 12:30 PM

Interest Rates May Have Muted Effect on Cap Rates: Report

Interest rate increases this year are expected to have less of an impact on cap rates than originally anticipated, which could impact foreign investment in U.S. real estate, National Real Estate Investor reported March 1.

 
Mar 08, 2017 12:30 PM

Detroit Offers Buyers Separate Purchase, Renovation Mortgages

Detroit Mayor Mike Duggan on Feb. 18 announced the city's new mortgage program, which allows borrowers to take out two mortgages when buying a home - one for the purchase price and one for renovations - and the combined mortgages can exceed the appraised value of the house, MarketWatch reported.

 
Mar 01, 2017 12:30 PM

NAR Forecast Shows Stable CRE Growth

The commercial real estate sector is expected to remain stable for the remainder of the year, the National Association of Realtors reported Feb. 23 in its quarterly commercial real estate forecast. The national vacancy rates for the office, industrial and retail sectors are expected to decline slightly.

 
Mar 01, 2017 12:30 PM

Commercial, Multifamily Originations to Increase, Report Shows

Commercial and multifamily mortgage originations are expected to grow by 3 percent to $515 billion this year, the Mortgage Bankers Association reported Feb. 23. Multifamily should be especially strong, accounting for $219 billion of the expected total.

 
Mar 01, 2017 12:30 PM

HUD Issues Fraud Alert for Appraiser Identity Theft

The U.S. Department of Housing and Urban Development's Office of Inspector General issued a Fraud Alert on Feb. 22 after uncovering a series of appraiser identity theft cases.

 
Feb 22, 2017 12:30 PM

Report Shows Strong Apartment Fundamentals

Apartment fundamentals are expected to remain strong this year, with rents rising faster than inflation and units experiencing healthy occupancy rates, according to real estate investment firm Marcus & Millichap, National Real Estate Investor reported Feb. 14.

 
Feb 22, 2017 12:30 PM

US Court of Appeals Agrees to Rehear CFPB Case

The U.S. Court of Appeals for the District of Columbia Circuit on Feb. 16 ruled that the Consumer Financial Protection Bureau can defend the constitutionality of its leadership structure, HousingWire reported. A three-judge panel of the court previously ruled the leadership structure was unconstitutional; the entire court will now hear the case.

 
Feb 22, 2017 12:30 PM

Fed Sees CRE Valuations as 'Area of Concern'

Federal Reserve Chair Janet Yellen told Congress Feb. 14 during the central bank's semiannual Monetary Policy Report that commercial real estate valuations have been an increasing area of concern during the past year, Reuters reported. Yellen further noted that commercial property prices are a growing concern.

 
Feb 21, 2017 08:00 AM

Registration Opens for 2017 International Valuation Conference

Registration is now open for the 2017 International Valuation Conference, co-hosted by the Appraisal Institute and the Appraisal Institute of Canada, on June 8-11 in Ottawa, Ontario. It is the first event the two organizations have co-hosted in 13 years.

 
Feb 15, 2017 12:30 PM

US Has 3 Most Dynamic CRE Markets in the World: JLL

Boston; Austin, Texas; and California’s Silicon Valley are among the world’s 10 most dynamic commercial real estate markets, according to a report from real estate services firm JLL, Multi-Housing News reported Feb. 8. The most dynamic CRE market: Bangalore, India.

 
Feb 15, 2017 12:30 PM

Investment in US Real Estate to Increase, KPMG Reports

Real estate executives said they plan to expand investments in the U.S. this year and anticipate continued growth beyond 2017, according to a study from financial advisory firm KPMG, MBA NewsLink reported Feb. 9. Fifty-two percent of executives said improving real estate fundamentals was their firm’s biggest driver of revenue growth.

 
Feb 15, 2017 12:30 PM

Fed Expects to Unwind Trillions in MBS

Federal Reserve officials said the central bank may begin to reduce its mortgage-backed securities holdings, which total $1.75 trillion and were amassed as part of a quantitative easing program during the financial crisis, Bloomberg reported Feb. 5. However, some worry that the drawdown could harm the U.S. housing market.

 
Feb 08, 2017 12:30 PM

Fannie Mae Selling Guide Addresses Appraiser Trainees, Adjustments

The updated Fannie Mae Selling Guide released Jan. 31 clarifies rules for property inspections by appraiser trainees and dollar adjustments for financing or sales concessions. All clarifications and updates are effective immediately.

 
Feb 08, 2017 12:30 PM

Fannie Mae Unveils Updated Collateral Underwriter

Fannie Mae announced Jan. 31 enhancements to Collateral Underwriter, including updates to property value representations and warranties as well as user interface enhancements. Version 4.1 is scheduled for release the weekend of March 25.

 
Feb 08, 2017 12:30 PM

State Agency Warns Appraisers of 'Phishing Scheme'

The California Bureau of Real Estate Appraisers on Jan. 31 issued guidance to appraisers across the country who received an email stating that a complaint had been filed against their practice.

 
Feb 08, 2017 08:00 AM

New Appraisal Institute Book Enhances Understanding of Rural Property Valuation

The American landscape is changing and rural communities are changing as well, yet there is a void in the current literature of rural property appraisal, according to a new book by the Appraisal Institute.​

 
Feb 01, 2017 12:30 PM

Hotel Lender Outlook 'Cautious:' Data Firm

Lenders are taking a "cautious" attitude about hotel lending, shifting their views from "confident" due to a belief that asset values have peaked as well as concerns about the overall economic outlook, according to a survey from hotel data firm STR, MBA NewsLink reported Jan. 26.

 
Feb 01, 2017 12:30 PM

Data Center Sector to Expand, JLL Reports

The data center sector is projected to grow very quickly amid "soaring" cloud use by big data companies and increased use of mobile devices, according to real estate services firm JLL, MBA NewsLink reported Jan. 26.

 
Feb 01, 2017 12:30 PM

Mortgage Market in 'Disarray,' Analysts Say

Mortgage markets are in greater "disarray" now than in 2008, according to analysts from the financial firm Rafferty Capital Markets, Yahoo Finance reported Jan. 25. Concerns focused on a breakdown in mortgage rules and mortgage insurance, and the inability of Fannie Mae and Freddie Mac to back loan guarantees.​

 
Jan 26, 2017 08:00 AM

Appraisal Institute’s New Guidance Outlines Appraisers’ Role in Arbitration

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, published guidance today to help appraisers understand their role when retained in an arbitration. ​

 
Jan 25, 2017 12:30 PM

Credit Suisse Accepts $5.3B Penalty over Mortgage Practices

Credit Suisse on Jan. 18 accepted a $5.3 billion settlement offer from the U.S. Department of Justice over allegations that it misled investors over residential mortgage-backed securities, Reuters reported. Credit Suisse will pay a $2.48 billion cash penalty and provide $2.8 billion in consumer relief.

 

Deutsche Bank Finalizes $7.2B RMBS Settlement

Deutsche Bank on Jan. 17 finalized a $7.2 billion settlement with the U.S. Department of Justice for allegedly making false and misleading statements to investors about mortgage loans it securitized from 2005 to 2007, HousingWire reported. The bank will pay a $3.1 billion civil penalty and provide $4.1 billion in consumer relief.

 
Jan 25, 2017 12:30 PM

Beige Book Shows Mixed Results for Residential, Commercial Sectors

Sales and construction of residential real estate were mixed across most Fed districts, except in San Francisco where activity remained strong, the Federal Reserve reported Jan. 18 in its newest Beige Book. Commercial real estate across most districts was stable, but especially strong in Atlanta and Cleveland.

 
Jan 18, 2017 12:30 PM

Freddie Mac Remains Top Multifamily Lender

Freddie Mac reported Jan. 11 that it is the nation's largest multifamily lender for the second consecutive year, reporting a record $56.8 billion in loan purchase and bond guarantee volume. In 2015, Freddie Mac's volume was $47.3 billion.

 
Jan 18, 2017 12:30 PM

HUD Lowers FHA Mortgage Insurance Premium

The U.S. Department of Housing and Urban Development announced Jan. 9 that mortgage insurance premiums on FHA-backed loans will drop by 25 basis points. The change takes effect Jan. 27.

 
Jan 18, 2017 12:30 PM

Updated HUD Standards Allow More Noise, Amenities

The U.S. Department of Housing and Urban Development changed its noise standards to reflect the market shift toward urban sensibilities and environments where noise levels generally are higher, MBA NewsLink reported Jan. 12. As a result, developers will be able to add more balconies and other exterior amenities.

 
Jan 11, 2017 12:30 PM

Retail Rents Decline in Major Cities, Colliers Reports

Asking rents for retail space in major cities are softening across property types as retailers face continued pressure from online shopping, changing consumer tastes and brick-and-mortar competitors, according to commercial real estate services firm Colliers International, National Real Estate Investor reported Jan. 5.

 
Jan 11, 2017 12:30 PM

Fed Expects Economy to Grow, not Boom Under Trump

Notes from the Federal Reserve's mid-December meeting indicate that Donald Trump's presidency is expected to foster economic growth but not create the boom the president-elect has promised, The New York Times reported Jan. 4. The Fed indicated it will raise rates faster if growth accelerates.

 
Jan 11, 2017 12:30 PM

Basel Accord with Valuation Component Delayed

The Basel Committee on Banking Supervision announced Jan. 3 that it will delay voting on a new accord, part of which focuses on real estate risk requirements, including valuation. The Basel Accords establish regulatory capital requirements for bank regulatory agencies worldwide. The committee will resume work on the accord in the "near future."

 
Jan 06, 2017 08:00 AM

Appraisal Institute Outlines 2017 Plans: Valuation Magazine

The Appraisal Institute has the plans and momentum to address opportunities and challenges facing the real estate valuation profession, the organization’s 2017 elected officers said in an article published in Valuation magazine’s Fourth Quarter 2016 issue.

 
Jan 04, 2017 12:30 PM

Analysts Expect Treasury Yields to Increase This Year

Analysts monitoring the bond market believe that 10-year Treasury yields, which influence mortgage rates, could reach 4 percent this year based on the Federal Reserve's call for three rate hikes, MarketWatch reported Dec. 29. Inflationary risk in President-elect Trump's spending plan also could impact those yields.

 
Jan 04, 2017 12:30 PM

Deutsch Bank Accepts $7.2B Mortgage Securities Settlement

Deutsch Bank has agreed to a $7.2 billion settlement with the U.S. Department of Justice over the bank's pooling and sale of allegedly toxic mortgage securities leading up to the 2008 financial crisis, Reuters reported Dec. 23.

 
Jan 04, 2017 12:30 PM

IRS Says Some Conservation Easements Are Listed Transactions

The IRS on Dec. 23 released Notice 2017-10 that identified certain syndicated conservation easement transactions as listed transactions. Investors who have entered into such transactions since 2010 or who enter into such transactions prospectively must comply with certain disclosure requirements, and appraisers acting as advisors must comply with certain disclosure obligations.

 
Dec 29, 2016 08:00 AM

Jim Amorin to Become President of Appraisal Institute on Jan. 1

Jim Amorin, MAI, SRA, AI-GRS, of Austin, Texas, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 20,000 professionals in almost 60 countries.

 
Dec 20, 2016 08:00 AM

Sale Conditions Impact Office Building Prices: The Appraisal Journal

The context and conditions of sale transactions can impact office buildings’ sale prices, according to an article published this week in The Appraisal Journal.

 
Dec 14, 2016 12:30 PM

Hotel Supply at Tipping Point, PwC Reports

The hospitality sector could face its first decline in eight years as hotel supply increases but market growth decreases, according to financial services firm PwC, MBA NewsLink reported Dec. 8.

 
Dec 14, 2016 12:30 PM

S&P 500 Real Estate Sector is Worst Performer in Market

The Standard & Poor’s 500 real estate sector has been the market’s worst performer since it launched in September, down 10 percent with further declines expected if rates go up, CNBC reported Dec. 6. The S&P has increased 2 percent during the same timeframe.

 
Dec 14, 2016 12:30 PM

Trump Adviser Expects "Very Substantial" Regulation Reversal

Blackstone Group Chairman and CEO Steve Schwarzman, speaking Dec. 6 at an investor conference, said he anticipates “very substantial reversal of regulations of all types” for the financial sector under President Trump, Reuters reported. Schwarzman chairs a panel of business leaders who will advise Trump during his presidency.

 
Dec 12, 2016 08:45 AM

New Appraisal Institute Course Teaches Review Process

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today premiered a course to help appraisers work through all seven steps of the appraisal review process and apply them within a simulated, real-to-life assignment.

 
Nov 30, 2016 12:30 PM

CFPB Fights Court Ruling Challenging its Constitutionality

The Consumer Financial Protection Bureau on Nov. 18 asked for a rehearing from the full slate of judges at the U.S. Court of Appeals for the District of Columbia Circuit in response to last month’s three-judge panel ruling that the agency’s structure is unconstitutional, The New York Times reported.​

 
Nov 30, 2016 12:30 PM

Court Blocks New Overtime Rule

A federal judge on Nov. 22 blocked a rule issued by the U.S. Department of Labor that would have made an additional four million salaried employees eligible for overtime pay, Reuters reported. The rule would have taken effect Dec. 1 and doubled to $47,500 the salary a worker could make and still qualify for overtime.

 

FHFA Raises Conforming Loan Limits for First Time in a Decade

The Federal Housing Finance Agency announced Nov. 23 that it will increase the conforming loan limit for mortgages acquired by Fannie Mae and Freddie Mac for the first time in 10 years. The current limit of $417,000 for single-family homes will go up to $424,100 in 2017.

 
Nov 23, 2016 12:30 PM

New IRS Rules Impact Common REIT Transactions: Report

The U.S. Department of the Treasury and the IRS issued temporary regulations that changed the rules for leveraged partnership transactions, UPREIT and DownREITS, National Real Estate Investor reported Nov. 14. The regulations are expected to adversely impact tax planning techniques that were allowed by previous regulations.

 
Nov 23, 2016 12:30 PM

GAO Says Fed Stress Test Framework is Flawed

The Government Accountability Office reported Nov. 15 that Dodd-Frank Act Stress Tests for Federal Reserve-supervised banking institutions and the Comprehensive Capital Analysis and Review for bank holding companies lack transparency and have scenario design flaws and problems with model-risk management, ABA Banking Journal reported.

 
Nov 23, 2016 12:30 PM

Appraiser Regulatory Requirements 'Stuck in the Past,' Luetkemeyer Says

After hearing the Appraisal Institute testify Nov. 16 before the Housing and Insurance Subcommittee about how appraisers are being choked by rules and regulations, Subcommittee Chair Blaine Luetkemeyer, R-MO, said that the regulatory requirements for appraisers remain "stuck in the past" and that the system is "unnecessarily complicated and outdated."

 
Nov 16, 2016 12:30 PM

Dallas Leads Portland, Denver as Hottest Investor Markets: Report

Dallas was ranked the hottest real estate market for the second consecutive year, standing out as a market with strong price appreciation and one where investors see high rents relative to property values, according to real estate investment network BiggerPockets, Forbes reported Nov. 7. Portland, Oregon, and Denver also ranked highly.

 
Nov 16, 2016 12:30 PM

Congress Hears Appraisal Institute Ideas to Modernize Regulation

The Appraisal Institute told a Congressional hearing Nov. 16 there is a “better, less-complicated approach” that would modernize the U.S. appraisal regulatory structure by improving quality, reducing costs and addressing fundamental concerns that drive appraisers from the profession. AI suggested that Congress realign the appraisal regulatory structure with those of other industries in the real estate and mortgage sectors.

 
Nov 16, 2016 12:30 PM

Trump Administration Could Gut CFPB, Repeal Dodd-Frank

An incoming Republican president and Republican-controlled House and Senate could have a significant impact on the Consumer Financial Protection Bureau and the Dodd-Frank Act, HousingWire reported Nov. 9. CFPB could see a change in structure or be completely eliminated, while the Dodd-Frank Act could be repealed.

 
Nov 16, 2016 09:18 AM

Congress Hears Appraisal Institute’s Ideas to Modernize Regulation

The Appraisal Institute today told a Congressional hearing there is a “better, less-complicated approach” that would modernize the U.S. appraisal regulatory structure by improving quality, reducing costs and addressing fundamental concerns that drive appraisers from the profession.

 
Nov 09, 2016 12:30 PM