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Results: 1068 Articles found.
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.

 
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.

 
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.

 
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 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.

 
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.

 
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 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.

 
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 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 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 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 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.

 
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 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 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 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 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

Shadow Banks Overtaking Mortgage Market, Report Shows

Shadow banks will soon overtake traditional lenders in the mortgage market, according to a report from data firm SNL Financial, CNBC reported Oct. 29. Non-bank lenders generated 48 percent of mortgages in 2015, and that figure is expected to be higher this year.

 
Nov 09, 2016 12:30 PM

Fed Leaves Fund Rates Unchanged

The Federal Reserve on Nov. 2 announced that it will leave the federal funds rate unchanged, a move that was widely expected due to the election and because the Fed seeks maximum employment and price stability, Business Insider reported.

 
Nov 09, 2016 12:30 PM

Wells Fargo Agrees to $50M Settlement over Appraisals

Wells Fargo agreed to pay $50 million to settle allegations that it overcharged hundreds of thousands of homeowners for appraisals ordered after they defaulted on mortgages, Reuters reported Oct. 31. The proposed settlement requires court approval and would resolve claims that the bank charged considerably more than it paid for appraisals.

 
Nov 02, 2016 12:30 PM

Investors to Lose Billions on Mall Decline: Ratings Agency

After investors funded a major expansion of shopping malls a decade ago, a significant shift to online shopping has devastated those commercial properties, Reuters reported Oct. 21. Ratings agency Morningstar Credit Ratings said nearly $128 billion in loans, more than one-quarter of which financed malls, are set to refinance by the end of 2017.

 
Nov 02, 2016 12:30 PM

Global Volatility to Positively Impact US CRE Market: Report

Uncertainty around the world is expected to positively and negatively affect the U.S. economy, but the commercial real estate market stands to grow in the near and medium term, National Real Estate Investor reported Oct. 25. Foreign investors are expected to seek safe haven in U.S. real estate investments.​

 
Nov 02, 2016 12:30 PM

Appraisal Institute "Concerned" about Freddie Mac Policy Changes

Citing similarities to previous policies that “turned out to be disastrous for the entire economy,” the Appraisal Institute on Oct. 31 expressed “serious concerns” with changes to Freddie Mac’s Loan Advisor Suite. Under its new policy announced Oct. 24, Freddie Mac will waive appraisals in lieu of an “appraisal alternative” in a host of situations, including first-purchase loans.

 
Nov 01, 2016 08:00 AM

Appraisal Institute Concerned with Freddie Mac Policy Changes

Citing similarities to previous policies that “turned out to be disastrous for the entire economy,” the nation’s largest professional association of real estate appraisers today expressed “serious concerns” with changes to Freddie Mac’s Loan Advisor Suite.

 
Oct 26, 2016 02:53 PM

Real Estate Rebounds after Turbulent Start to Year: JLL

After an uneven start to the year, global real estate markets grew 6 percent between the second and third quarters, recording $163 billion in investment activity, according to real estate services firm JLL, MBA NewsLink reported Oct. 20. Year-to-date global real estate investment is $454 billion.

 
Oct 26, 2016 02:52 PM

Banks Increase Multifamily Lending

Banks are increasing their lending for apartment properties, which are viewed as stable, cash-producing investments, according to capital services provider HFF, National Real Estate Investor reported Oct. 18. During the first half of the year, banks have funded 38 percent of all permanent apartment loans.​

 
Oct 26, 2016 02:48 PM

Residential, Commercial Activity Grows: Fed Beige Book

Real estate activity increased in most Fed districts for both the residential and commercial markets, the Federal Reserve reported Oct. 19 in its newest Beige Book. Home prices continued to rise at a modest pace across much of the country. Multifamily activity was mostly positive. Commercial leasing activity was up.

 
Oct 26, 2016 08:00 AM

Appraisal Institute, European Group Sign Mutual Recognition Agreement

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced it has entered into a landmark agreement with The European Group of Valuers’ Associations, known as TEGoVA, to mutually recognize the professional excellence of each other’s standards, ethics and qualifications.

 
Oct 19, 2016 12:30 PM

CFPB Releases Updated TRID Compliance Guide

The Consumer Financial Protection Bureau on Oct. 12 issued a revised small entity compliance guide to the TILA-RESPA integrated disclosures, ABA Banking Journal reported. Updates relate to records retention, construction loans, disclosures of seller-paid costs and form completion, among others. CFPB also updated its Loan Estimate and Closing Disclosure forms.

 
Oct 19, 2016 12:30 PM

FHFA Could Raise Lending Caps Again

The Federal Housing Finance Agency has increased its market rate lending caps at Fannie Mae and Freddie Mac twice this year and might do so again before the end of the year, National Real Estate Investor reported Oct. 12. The increases were prompted by strong multifamily lending and slumping commercial mortgage-back securities.

 
Oct 19, 2016 12:30 PM

Fed Cites 'New Housing Crisis' in US

Residential spending in the third quarter remained weak due to a "new housing crisis" caused by a scarcity of building lots and a lack of skilled labor, according to the Federal Open Market Committee's September meeting notes released Oct. 12, Business Insider reported. The notes further revealed that property supply is not meeting demand.

 
Oct 18, 2016 08:00 AM

Appraisal Institute Book Shares Methods for Valuing Golf Courses

More appraisers are valuing golf course properties and are bringing sophisticated new methodology to the market and appraisal practice, according to a new book by the Appraisal Institute.

 
Oct 12, 2016 12:30 PM

Court Orders Government to Release Docs to GSE Investors

The Court of Federal Claims in Washington on Oct. 3 ordered the U.S. government to release documents to Fannie Mae and Freddie Mac investors who sued the government over its decision to seize profits from the government-sponsored enterprises, The New York Times reported. Investors claimed the government's action constituted illegally taking private property.

 
Oct 12, 2016 12:30 PM

CFPB Unconstitutional but Still Operational, Court Rules

A federal appeals court on Oct. 11 ruled that the Consumer Financial Protection Bureau's structure was unconstitutional because too much power is assigned to its sole director, Reuters reported. The court said the bureau could continue to operate under the president's supervision.

 
Oct 12, 2016 12:30 PM

FHA Updates Single Family Handbook Appraisal Requirements

The Federal Housing Administration on Sept. 30 updated its Single Family Housing Policy Handbook to clarify that appraisers must indicate that certain appliances contributing to the market value of the property are physically present. FHA previously required appraisers to physically observe and operate appliances on the property.

 
Sep 28, 2016 12:30 PM

Large Cities Recovering Faster than Smaller Ones: Report

Most larger metro areas have fully recovered from the recession, but many smaller metros are still struggling, according to Bureau of Economic Analysis statistics reported Sept. 20 by CNBC. San Jose, California, is experiencing the fastest growth while smaller cities like Bloomington, Illinois, and Houma, Louisiana, are getting left behind.

 
Sep 28, 2016 12:30 PM

Freddie Mac Launches Loan Program for Underserved Communities

Freddie Mac, in partnership with New American Funding and Alterra Home Loans, launched a pilot loan program Sept. 19 called Your Path, which considers a wider range of factors than traditional underwriting methods in order to provide homeownership opportunities for underserved communities, National Mortgage Professional Magazine reported.

 
Sep 28, 2016 12:30 PM

Deutsche Bank Challenges $14 Billion MBS Fine

Deutsche Bank is fighting the U.S. Department of Justice over a $14 billion fine to settle claims that it sold soured mortgage-backed securities, Reuters reported Sept. 16. Deutsche had expected a smaller fine; if the larger figure holds, it would be one of the largest paid to U.S. authorities in years.

 
Sep 27, 2016 08:00 AM

Transmission Lines Increase and Decrease Property Values: The Appraisal Journal

Property values are affected in both positive and negative ways by their proximity to transmission lines, according to an article published this week in The Appraisal Journal.

 
Sep 21, 2016 12:30 PM

Wells Fargo Top Mid-year Multifamily, Commercial Mortgage Servicer

Wells Fargo took the top spot on the Mortgage Bankers Association's mid-year list of high-volume multifamily and commercial mortgage servicers, the organization announced Sept. 1. The bank reported $502.2 billion in master and primary servicing. Rounding out the top five servicers are PNC, Berkadia Commercial Mortgage, KeyBank and CBRE.

 
Sep 21, 2016 12:30 PM

Real Estate Coalition Questions APB's Green Guidance

An industry coalition led by the Real Estate Roundtable submitted on Sept. 6 a comment letter to the Appraisal Practices Board stating their concerns about its first draft of the "voluntary" guideline "Valuation of Green and High Performance Property: Commercial, Multifamily and Institutional Properties."​

 

Banking Group Challenges Legality of Stress Tests

Key components of the Federal Reserve's annual stress tests for big banks likely are illegal because they fail to comply with the Administrative Procedure Act of 1946, according to a white paper released Sept. 15 by the Committee on Capital Markets Regulation, a nonprofit comprised of banking executives.

 
Sep 20, 2016 08:00 AM

Increased Spending on US Ports Expands Opportunities for Appraisers: Valuation Magazine

An increase in spending on U.S. ports to upgrade infrastructure and expand facilities has opened up numerous opportunities for valuation professionals, according to an article published in Valuation magazine’s third quarter 2016 issue.

 
Sep 14, 2016 12:30 PM

Residential, Commercial Activity Grows: Fed Beige Book

Residential real estate activity in August expanded in most Fed districts while construction was mostly moderate, the Federal Reserve reported Sept. 7 in its newest Beige Book. Commercial construction and sales grew slightly, and most districts reported expanded activity.

 
Sep 14, 2016 12:30 PM

Congressman Seeks FBI Data on Financial Crises Investigations

Rep. Bill Pascrell, D-N.J., sent a letter Sept. 6 to Federal Bureau of Investigation Director James Comey asking the agency to release details of its financial crisis investigations, HousingWire reported. Pascrell seeks answers as to why financial firms were fined billions of dollars but executives weren't held accountable.

 
Sep 14, 2016 12:30 PM

Treasury Releases Final Rule on Definition of REIT Real Property

The U.S. Department of the Treasury on Aug. 31 issued final regulations that define real property for the purpose of the REIT provision for the Internal Revenue Service. Real property is defined as land, structural components and inherently permanent structures that serve a passive function.

 
Sep 07, 2016 12:30 PM

States Still Struggle with Bubble-era Loans: Report

Ten years after the housing bubble burst, nine states and the District of Columbia still have a foreclosure backlog of loans originated between 2004 and 2008, according to analytics firm ATTOM Data Solutions, Forbes reported Aug. 26. Topping the list is the District of Columbia, where 76 percent of loans originated during that four-year period are in foreclosure.

 
Sep 07, 2016 12:30 PM

Freddie Mac: Housing Market Remains Stable

The housing market is largely unchanged from the previous month and is on the outer range of the benchmark for historic housing activity, Freddie Mac reported Aug. 31 in its Multi-Indicator Market Index. Thirty-eight states plus the District of Columbia have MiMi values within range of their benchmark averages.

 
Sep 07, 2016 12:30 PM

Boston Fed: Low Interest Rates Could Harm CRE Market

Eight years of low interest rates resulted in a rapid increase in commercial real estate prices that could quickly decrease if economic conditions change, according to Boston Fed President Eric Rosengren, The Street reported Aug. 31. Rosengren recommends raising interest rates to keep the commercial real estate market from overheating.

 
Aug 31, 2016 12:30 PM

Appeals Court Declines to Reconsider Bank of America Ruling

The 2nd U.S. Circuit Court of Appeals in New York on Aug. 22 rejected a request to reconsider its ruling that overturned a $1.27 billion penalty against Bank of America for mortgage fraud, Reuters reported. Manhattan U.S. Attorney Preet Bharara had hoped the government could pursue a new trial.

 
Aug 31, 2016 12:30 PM

Fixed Mortgage Rates Unchanged

Average fixed mortgage rates were unchanged during the past week, remaining near historic lows ahead of Fed Chair Janet Yellen's comments on a possible rate hike, Freddie Mac reported Aug. 25 in its Primary Mortgage Market Survey.

 
Aug 31, 2016 12:30 PM

FHFA Extends HARP into 2017, Launches New Refi Program

The Federal Housing Finance Agency announced Aug. 25 that its Home Affordable Refinance Program will be extended to Sept. 30, 2017, and that a new refinance product aimed at borrowers with high loan-to-value ratios will be available next year through Fannie Mae and Freddie Mac.

 
Aug 24, 2016 12:30 PM

Fannie Mae: Expect Economic Rebound

Economic growth is expected to rebound for the remainder of the year thanks to a higher than expected July jobs report, credit expansion, improving labor market conditions and strengthening household finances, Fannie Mae reported Aug. 18 in its newest Economic and Housing Outlook report.

 
Aug 24, 2016 12:30 PM

ASB Releases Second Exposure Draft on 2018-19 USPAP

The Appraisal Standards Board of The Appraisal Foundation on Aug. 16 released its second exposure draft on proposed changes for the 2018-19 edition of the Uniform Standards of Professional Appraisal Practice. Changes in this version primarily address draft reports and preliminary communication of an appraiser’s assignment results. Comments are due Oct. 21.

 
Aug 24, 2016 12:30 PM

FEMA Proposes New Rules for Construction in Flood Zones

The Federal Emergency Management Agency proposed regulations Aug. 22 that would require developers and homeowners using federal funds for construction projects in flood zones to build on higher ground - in some cases as much as two feet higher than 100-year floodplains.

 
Aug 17, 2016 12:30 PM

Community Banks Remain Strong: White House Report

The White House Council of Economic Advisers on Aug. 10 released a report that showed community banks remained strong across a variety of measures - including lending growth and geographic reach - since the passage of the Dodd-Frank Act in 2010. The report noted, however, that branch consolidation is problematic.

 
Aug 17, 2016 12:30 PM

Six CRE Trends for Rest of 2016 Identified

Global economic and political uncertainties, the ever-changing retail sector and volatile energy markets are three of the key trends that will play significant roles in commercial real estate for the upcoming year, the Urban Land Institute reported Aug. 10. Other expected trends include steady interest rates and limited supply growth.

 
Aug 17, 2016 12:30 PM

Fannie, Freddie May Require Billions in Crisis Bailout

The Federal Housing Finance Agency on Aug. 8 released stress test results for government-sponsored enterprises Fannie Mae and Freddie Mac that showed the GSEs could need as much as $125.8 billion in bailout money during a severe economic downturn, Bloomberg reported. FHFA said the minimum bailout figure would be $49.2 billion.

 
Aug 17, 2016 09:10 AM

Appraisal Institute Joins 10 Associations Opposing Changes to PACE Loans

Citing “a host of serious consumer protection concerns,” the nation’s largest professional association of real estate appraisers joined 10 trade associations Tuesday to oppose recent changes to the federal government’s Property Assessed Clean Energy loans, known as PACE loans.

 
Aug 10, 2016 12:30 PM

Barclays Avoids Multimillion-dollar Subprime Suit

A lawsuit jointly filed by the Federal Housing Finance Agency and U.S. Bank that accused Barclays Bank and one of its subprime lending subsidiaries of misrepresenting the quality of mortgages in a $619 million bond was dismissed because it was filed beyond the statute of limitations, HousingWire reported July 26.

 
Aug 10, 2016 12:30 PM

Fed: Banks Tightening CRE Loan Requirements

Banks continue to scrutinize commercial real estate loans, reporting that they tightened standards during the second quarter, which is the fourth consecutive quarter of such tightening, the Federal Reserve reported in its July Senior Loan Officer Opinion Survey on Bank Lending Practices. Banks reported that residential loan standards were mostly unchanged.

 
Aug 09, 2016 08:00 AM

Appraisal Institute Education Trust Honors 4 National Award Winners

Bradley R. Carter, MAI, of Atlanta, received the George L. Schmutz Award; Stephen D. Roach, MAI, SRA, AI-GRS, of San Diego, received the James H. Pritchett Award; Charles G. Dannis, MAI, SRA, of Dallas, received the Dr. William N. Kinnard Jr. Academic Award; and Byron E. Miller, SRA, AI-RRS, of Minneapolis, Minnesota, received the Y.T. and Louise Lee Lum Award from the Appraisal Institute Education Trust during the Appraisal Institute Annual Conference July 27 in Charlotte, North Carolina.

 
Jul 29, 2016 08:00 AM

Stephen Wagner Elected 2017 Appraisal Institute Vice President

Stephen S. Wagner, MAI, SRA, AI-GRS, of West Lafayette, Indiana, was elected 2017 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Charlotte, North Carolina. Wagner’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

 
Jul 28, 2016 12:00 PM

Appraisal Institute Honors 7 National Award Winners

Terry R. Dunkin, MAI, SRA, of Sparks, Maryland; M. Ralph Griffin, MAI, AI-GRS, of Spartanburg, South Carolina; and W. Calvin Reynolds, MAI, SRPA, SREA, SRA, of Winston-Salem, North Carolina, were honored with the Lifetime Achievement Award and Sandra K. Adomatis, SRA, of Punta Gorda, Florida, was named the recipient of the Outstanding Service Award during the Appraisal Institute Annual Conference Wednesday in Charlotte, North Carolina.

 
Jul 20, 2016 12:30 PM

OCC to Boost Oversight of Commercial Real Estate

The Office of the Comptroller of the Currency on July 11 said it will increase scrutiny of the commercial real estate sector because credit risks are on the rise due to low interest rates, Reuters reported.

 
Jul 20, 2016 12:30 PM

FHFA Clarifies Principal Reduction Eligibility

The Federal Housing Finance Agency reported July 11 that an estimated 31,000 borrowers nationwide are eligible for a one-time principal reduction, with most of the homeowners concentrated in five states: Florida, Illinois, Ohio, New Jersey and New York.

 
Jul 20, 2016 12:30 PM

Senators Tell FHFA to Leave GSE Reform to Them

While some in Congress are pushing the Federal Housing Finance Agency to let Fannie Mae and Freddie Mac recapitalize, a bipartisan coalition of senators is urging FHFA Director Mel Watt to let legislative efforts guide housing finance reform, HousingWire reported July 11.

 
Jul 13, 2016 12:30 PM

Census Bureau: Apartment, Office Construction on Rise

The U.S. Census Bureau reported July 1 that construction spending in May was down 0.8 percent from April but multifamily residential construction increased 1.8 percent for the month and 23.9 percent year-over-year. Office construction was down 0.4 percent in May, but up 22.5 percent for the year.

 
Jul 13, 2016 12:30 PM

AQB Alters Supervisory Appraiser Criteria

The Appraiser Qualifications Board of The Appraisal Foundation on June 24 adopted changes to the Real Property Qualification Criteria, altering the minimum requirements for supervisory appraiser qualification.​

 
Jul 13, 2016 12:30 PM

New York First to Buy Delinquent FHA Mortgages

Officials in New York City on June 30 announced plans to purchase a limited number of delinquent loans from the Federal Housing Administration in what's being called a "first of its kind" program, HousingWire reported. The Community Restoration Program will oversee the purchase, which should help struggling residents avoid foreclosure.

 
Jul 06, 2016 12:30 PM

Supreme Court to Hear Predatory Lending Suit Against Banks

The U.S. Supreme Court announced June 28 that it will hear arguments during its next term about the city of Miami’s ability to sue lenders Bank of America and Wells Fargo for alleged predatory lending, HousingWire reported.

 
Jul 06, 2016 12:30 PM

NY Adopts Law to Combat Zombie Foreclosures

New York Gov. Andrew Cuomo on June 23 signed into law legislation that reforms the state’s foreclosure processes and imposes a pre-foreclosure duty on banks and servicers to maintain “zombie” homes — properties vacated as a result of foreclosure, HousingWire reported June 27.

 
Jul 06, 2016 12:30 PM

Brexit Could Boost US CRE Investment

The U.K.’s exit from the European Union could be a boon to U.S. commercial real estate as investors pull capital out of U.K. properties and seek other markets in which to invest, National Real Estate Investor reported June 24.

 
Jul 05, 2016 08:00 AM

Appraisal Institute Book Offers Guidance for Valuing ‘Damaged’ Properties

Real estate appraisers who analyze detrimental conditions should properly select and apply available tools, use relevant market data to support opinions and conclusions, and avoid unproven or suspect methodologies, according to a new book by the Appraisal Institute.

 
Jun 28, 2016 08:00 AM

Excess Rent Should Be Included in Property Valuation: The Appraisal Journal

Rent that is higher than the market rent for a property, known as excess rent, amounts to an intangible asset and should be specifically identified by real estate appraisers, according to an article published this week in The Appraisal Journal.

 
Jun 22, 2016 12:30 PM

White House Releases Drone Regulations

The White House on June 21 released regulations for drone usage, including issuing aircraft weight and flight restrictions. Commercial operators will need to be vetted by the Transportation Security Administration and have to pass an aeronautical knowledge exam at an FAA-approved test center.

 
Jun 22, 2016 12:30 PM

Gap Between Homeowner, Appraiser Value Opinion Shrinks

Homeowner and appraiser opinions of property value grew closer in May, with appraiser valuations only 1.89 percent lower than homeowner estimates, down from 1.95 percent in April, Quicken Loans reported June 14 in its Home Price Perception Index.

 
Jun 22, 2016 12:30 PM

Fannie Mae Delays Desktop Underwriter Update

Fannie Mae announced June 21 that it will delay until late September its updates to the Desktop Underwriter program. The updates, which originally were slated for June 25, should provide more certainty to lenders while expanding access to credit and homeownership to a larger pool of borrowers.

 
Jun 21, 2016 09:00 AM

US Government Outsources Nearly All Real Estate Appraisals: Valuation Magazine

Real estate appraisers seeking exciting and challenging assignments can look toward the U.S. government — the nation’s largest land owner — for valuation opportunities, according to an article published in Valuation magazine’s second quarter 2016 issue.

 
Jun 15, 2016 12:30 PM

Republicans Detail Plan to Overhaul Dodd-Frank

Rep. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee, on June 7 detailed a plan to dismantle major portions of the Dodd-Frank Act, The New York Times reported. The proposed Financial Choice Act would take significant authority away from regulators who oversee some of the nation’s largest financial institutions.

 
Jun 15, 2016 12:30 PM

Fannie Mae Plans Significant Data Release on Modified Loans

Fannie Mae announced June 6 that it will release a huge collection of data on previously modified loans in its portfolio as part of its effort to securitize re-performing loans later this year, HousingWire reported. Fannie plans to release the data in July.

 
Jun 15, 2016 12:30 PM

Fannie Mae Plans Significant Data Release on Modified Loans

Fannie Mae announced June 6 that it will release a huge collection of data on previously modified loans in its portfolio as part of its effort to securitize re-performing loans later this year, HousingWire reported. Fannie plans to release the data in July.

 
Jun 15, 2016 12:30 PM

GSE Single Security on Track for This Year

Freddie Mac is expected to go live with its common securitization platform later this year while Fannie Mae will follow in 2018, Mortgage Orb reported June 1. The government-sponsored enterprises designed the single-security platform to enhance liquidity and stability in the secondary market.

 
Jun 13, 2016 08:00 AM

Appraisal Institute, Appraisal Institute of Canada Announce Joint Annual Conference in 2017

The largest professional associations of real estate appraisers in the United States and Canada announced today that the two groups for the first time since 2004 will jointly host an annual conference in Ottawa, Ontario, in 2017.

 
Jun 08, 2016 12:30 PM

Supreme Court Sides with Landowners over Wetlands

The U.S. Supreme Court unanimously ruled May 31 that landowners can immediately proceed to court once federal regulators determine that property containing wetlands is covered by the Clean Water Act, National Real Estate Investor reported May 31. The decision could expedite the approval process for entities seeking to develop wetlands.

 
Jun 08, 2016 12:30 PM

USDA Final Rule on B&I Loans Raises Appraisal Threshold

The U.S. Department of Agriculture’s Rural Business-Cooperative Service on June 3 released its final rule that makes changes to its Business and Industry Guaranteed Loan Program to improve program delivery, clarify regulations and reduce delinquencies. Additionally, the final rule raises the appraisal requirement threshold.

 
Jun 08, 2016 12:30 PM

3 States See Action on AMC Legislation

Minnesota, Louisiana and Illinois all took action in late May on legislation concerning appraisal management companies, the Appraisal Institute reported June 8. The governors in two states signed AMC legislation into law while a third governor is reviewing the legislation proposed in his state.

 
Jun 01, 2016 12:30 PM

Freddie Mac: US Housing Markets Continue to Improve

Freddie Mac announced May 25 that its Multi-Indicator Market Index rose to 83.8, which is a 7.23 percent increase from the previous year and indicative of an improving housing market. A score of 100 means that indicators are at average benchmark levels. Thirty-six states and the District of Columbia are within range of average benchmarks.

 
Jun 01, 2016 12:30 PM

Chase Nearly Done with Consumer Relief Requirements

JPMorgan Chase has paid more than $3.9 billion of the $4 billion in consumer relief it was ordered to provide for more than 165,000 borrowers as part of its settlement with the federal government and five states over the packaging and sale of soured residential mortgage-backed securities, HousingWire reported May 26.

 
Jun 01, 2016 12:30 PM

Wells Fargo Fined $70M over Mortgage Servicing

The U.S. Comptroller of the Currency on May 25 fined Wells Fargo $70 million over its mortgage servicing practices but ended restrictions it had placed on the bank, Reuters reported. The bank is accused of making inaccurate escrow calculations resulting in incorrect loan modification denials.

 
May 25, 2016 12:30 PM

HARP Refinance Surpasses 3.4 Million Borrowers

The Federal Housing Finance Agency announced May 16 that more than 3.4 million homeowners have refinanced their mortgage loans via the Home Affordable Refinance Program, including more than 19,000 in the first quarter. HARP expires Dec. 31, and more than 325,000 borrowers are still eligible to refinance.​

 
May 25, 2016 12:30 PM

Fannie: Economic Growth Continues Downward Slide

Fannie Mae on May 17 lowered its full-year economic growth forecast to 1.7 percent, down from 1.9 percent noted in a previous forecast and 2.2 percent reported at the beginning of the year. However, growth is expected to recover with a boost from home sales and low mortgage rates.

 
May 25, 2016 12:30 PM

Court Voids $1.27B fine Against Bank of America in 'Hustle' Case

A U.S. appeals court on May 23 overturned a $1.27 billion penalty against Bank of America, voiding a jury's finding that the bank was liable for selling toxic mortgage loans to the government-sponsored enterprises, Reuters reported. The government had accused the bank of fraud over a loan origination process known as “Hustle.”

 
May 20, 2016 08:00 AM

Appraisal Institute Unveils 2016-19 Strategic Plan

The nation’s largest professional association of real estate appraisers today announced a three-year strategic plan to address challenges and opportunities facing the organization and the real estate valuation profession.

 
May 18, 2016 12:30 PM

Moody's: Pre-recession Interest Rates Gone for Good

The higher interest rates that were prevalent before the recent financial crisis are unlikely to be seen again, primarily because of weak investment spending and the changing relationship between rates and inflation, according to ratings agency Moody's, Business Insider reported May 11

 

Fannie Mae: TRID Gives Advantage to Large Lenders

Forty-four percent of large lenders responding to a Fannie Mae survey about the TILA/RESPA Integrated Disclosure Rule said that it gave them a competitive advantage in the marketplace, whereas only 16 percent of small lenders said the rule gave them any advantage, MBA NewsLink reported May 12.

 
May 18, 2016 12:30 PM

Gap Between Appraiser, Homeowner Value Opinions Drops

The disparity between appraiser and homeowner opinions of property value slightly narrowed during the past month, with appraiser valuations only 1.95 percent lower than homeowner estimates in April, down from 2.17 percent in March, Quicken Loans reported May 10 in its Home Price Perception Index

 
May 11, 2016 12:30 PM

Freddie Mac Avoids Bailout

Freddie Mac reported a $354 million loss in the first quarter, but that amount was not enough to require a cash infusion from the government, MarketWatch reported May 3. Freddie said that reduced interest rates and widening spreads on mortgage loans and mortgage securities contributed to its loss.

 
May 11, 2016 12:30 PM

FHFA Raises Multifamily Lending Caps

The Federal Housing Finance Agency on May 4 announced that it increased to $35 billion the multifamily lending cap for government-sponsored enterprises Fannie Mae and Freddie Mac, effective immediately. The $4 billion adjustment is based on an increased estimate of the size of the multifamily finance market.

 
May 11, 2016 12:30 PM

Report: Few Properties Qualify for Principal Reduction

Fewer than 1 percent of seriously underwater properties could qualify for principal loan forgiveness under a new mortgage modification program introduced in April by the Federal Housing Finance Agency, analytics firm RealtyTrac reported May 4 in its Q1 2016 U.S. Home Equity and Underwater Report.

 
May 04, 2016 12:30 PM

Mortgage Rates Inch Up

Higher treasury yields helped push up average fixed mortgage rates during the past week, but they still remain low as the spring homebuying season begins, Freddie Mac reported April 28 in its Primary Mortgage Market Survey.

 
May 04, 2016 11:31 AM

Appraisal Institute Joins Groups Calling on Congress to Address Appraisal Regulation

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, on Monday joined the American Bankers Association, the National Association of Home Builders, the National Association of Realtors and The Appraisal Foundation in calling on Congress to hold a hearing this year on the future of appraisal regulation.

 
May 03, 2016 08:00 AM

Landscaping a Major Contributor to Property Values, Appraisal Institute Says

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today reminded homeowners that attractive landscaping can make a major contribution to a home’s value and can influence an owner’s ability to sell the property.

 
Apr 27, 2016 12:30 PM

Treasury Allocates Additional $1B to Aid Struggling Homeowners

The U.S. Department of the Treasury announced April 20 that it would allocate $1 billion to help struggling homeowners in 13 states, HousingWire reported. An initial $1 billion previously was allocated to 18 states as part of Treasury's Hardest Hit Fund, which was created in 2010 to help stabilize neighborhoods​

 
Apr 27, 2016 12:30 PM

Report: CFPB Ability-to-pay Rule Goes Unused

The Consumer Financial Protection Bureau's Ability-to-Pay rule, which provides borrowers with increased protections against harmful lending practices, hasn't seen any borrower claims since its January 2014 launch, according to a report from ratings agency Fitch Ratings, MBA NewsLink reported April 20.​

 
Apr 27, 2016 12:30 PM

GE Capital Close To Exiting Banking System

GE Capital reportedly is days away from exiting the U.S. banking system now that it completed the sale of its online deposit platform to Goldman Sachs, HousingWire reported April 18. The sale allows GE Capital to ends its Federal Deposit Insurance Corporation insurance and "extinguish" its final bank charter.

 
Apr 19, 2016 08:00 AM

Type of Home Renovation Key to Value: Appraisal Institute

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today encouraged homeowners to carefully choose renovation projects in order to maximize their return on investment.

 
Apr 13, 2016 12:30 PM

Wells Fargo Reaches Largest Settlement in FHA History

Wells Fargo and the U.S. Department of Justice on April 8 reached a $1.2 billion settlement over claims the bank made about certain residential home mortgage loans being eligible for Federal Housing Administration insurance when they actually were ineligible, HousingWire reported.

 
Apr 13, 2016 12:30 PM

Goldman Sachs Reaches $5 Billion MBS Settlement

Goldman Sachs and the U.S. Department of Justice on April 11 agreed to a $5 billion settlement that resolves claims related to the bank's sale of toxic residential mortgage-backed securities to investors, HousingWire reported.

 
Apr 13, 2016 12:30 PM

DOL Fiduciary Rule: Short-term Victory, Long-term Opportunity

The U.S. Department of Labor on April 6 released its final rule on "Conflicts of Interest" regarding advisors to retirement savings accounts. The Appraisal Institute views the rule as a victory for its professionals because all appraisal provisions were removed.

 
Apr 06, 2016 12:30 PM

Court Rejects Banks' Efforts to Dismiss Rate-rigging Suit

A federal judge in Manhattan on March 28 squashed an attempt by 14 of the world's largest banks to dismiss a lawsuit that accused them of rigging an interest rate benchmark used in the $553 trillion derivatives market, Reuters reported.

 
Apr 06, 2016 12:30 PM

Credit Suisse to Pay $29M over 'Toxic' MBS

Credit Suisse Group will pay more than $29 million to settle claims by U.S. regulators that it sold credit unions toxic mortgage-backed securities that eventually failed, Reuters reported March 24. The deal resolves one of several lawsuits against banks by the National Credit Union Administration over MBS sales.

 
Apr 06, 2016 12:30 PM

Lenders 'Pouring Money' into Affordable Housing

Banks are becoming "incredibly aggressive" when loaning money to affordable housing developers, and both Fannie Mae and Freddie Mac have greatly stepped up efforts in this sector, National Real Estate Investor reported March 30.

 
Mar 30, 2016 12:30 PM

FHFA: Principal Reduction Is Most Challenging Issue

Federal Housing Finance Agency Director Mel Watt speaking March 21 in Washington said that principal reduction has been the most challenging issue he’s faced during his tenure and that the option could be “off the table entirely,” HousingWire reported.

 
Mar 30, 2016 12:30 PM

Idaho Enacts Comprehensive AMC Law

Idaho became the 39th state to enact a comprehensive appraisal management company registration and oversight law when Gov. Butch Otter signed SB 1318 on March 23. The law takes effect July 1, 2017.

 
Mar 30, 2016 12:30 PM

Indiana Governor Signs Evaluation Bill into Law

Indiana Gov. Mike Pence signed SB 300 into law March 21. The bill, which takes effect July 1, deals with who can perform evaluations for financial institutions. View a copy of SB 300.

 
Mar 29, 2016 08:00 AM

Solar Energy Systems Can Increase Home Values: The Appraisal Journal

Homes with host-owned solar photovoltaic systems are sold at a premium compared to homes without PV systems, according to a study reported in an article published this week in The Appraisal Journal.

 
Mar 23, 2016 12:30 PM

Report: TRID Slashes Mortgage Profits

The net gain on mortgages originated by lenders dropped 60 percent during the fourth quarter due to implementation of the TILA-RESPA Integrated Disclosures Rule, according to the Mortgage Bankers Association’s Mortgage Bankers Performance Report, HousingWire reported March 17.

 
Mar 23, 2016 12:30 PM

CFPB: Complaints against Lenders Increase, Credit Unions Thrive

Appearing before the House Financial Services Committee March 16, Consumer Financial Protection Bureau Director Richard Cordray stated that complaints against lenders and servicers are increasing and that credit unions are gaining market share, especially in mortgages, at the expense of the big banks - a statement that credit unions refute.

 
Mar 23, 2016 12:30 PM

FHA Unveils Certification Revisions to Ease Bank Fears

The Federal Housing Administration on March 16 released final revisions to its certification requirements hoping to appease lenders that have stopped making FHA loans or have implemented harsher credit standards, Scotsman Guide reported. Lenders previously expressed concerns that FHA certifications exposed them to buyback demands when loans defaulted.

 
Mar 16, 2016 12:30 PM

Mortgage Rates Look Favorable for Spring Home Buying

Average fixed mortgage rates moved higher last week for the second consecutive week, as a solid February employment report boosted Treasury yields, making mortgage rates attractive for the upcoming spring home-buying season, Freddie Mac reported March 10 in its Primary Mortgage Market Survey.

 
Mar 16, 2016 12:30 PM

Gap Widens Between Appraiser, Homeowner Value Opinions

The difference between appraiser and homeowner opinions of home value increased during the past month - just as the two sides appeared to be closing the gap, Quicken Loans reported March 8 in its Home Price Perception Index. Appraised values were almost 2 percent lower than homeowner expectations.

 
Mar 16, 2016 12:30 PM

CFPB: Mortgage Credit Remains Too Tight

Consumer Financial Protection Bureau Director Richard Cordray stated in a March 9 speech in Washington that mortgage lending practices have noticeably improved in the years since the financial crisis, but that mortgage credit continues to be too tight, DS News reported.

 
Mar 16, 2016 08:00 AM

Experts Divided on Commercial Real Estate Market: Valuation Magazine

Valuation professionals and other experts disagree as to whether 2016 will be another banner year for commercial real estate, or if the market bubble is about to burst, according to an article published this week in Valuation magazine.

 
Mar 09, 2016 11:30 PM

FDIC to Banks: Use Valuations to Assess Foreclosures

The Federal Deposit Insurance Corporation on March 2 issued a letter on foreclosure policies and procedures to financial institutions reminding them to obtain the best practicable information on the market value of real estate subject to foreclosure and to use current valuation information to assess the viability of foreclosure proceedings.

 
Mar 09, 2016 12:30 PM

Kansas Supreme Court Rejects Law on Tax Valuation Increases

The Kansas Supreme Court on Feb. 25 struck down a state law that imposed a two-year moratorium on increases in tax valuation for citizens who requested and won a valuation appeal, the Topeka Capital-Journal reported. The court ruled that the law violated the guarantee of "uniform and equal" property valuation and taxation.

 
Mar 08, 2016 08:00 AM

Updated Appraisal Institute Book Addresses Evolving Scope of Work Concept

“Scope of Work,” second edition, published this week by the Appraisal Institute, assists appraisers in objectively and impartially performing an evolving variety of services.

 
Mar 02, 2016 12:30 PM

Green Construction Continues to Grow

Builders are going even greener, with more than one third of them saying that green buildings will account for more than 60 percent of their projects by 2018, according to the World Green Building Trends report from the U.S. Green Building Council and Dodge Data and Analytics, Eco Building Pulse reported Feb. 22.

 
Mar 02, 2016 12:30 PM

4 Legislative Issues Making CRE Market Vulnerable

Commercial real estate broker Sperry Van Ness noted in its report on pending federal, state and municipal legislation, that four specific legislative items have the potential to adversely affect commercial real estate, Bisnow reported Feb. 22.

 
Mar 02, 2016 12:30 PM

FHFA: Lack of Capital Biggest Risk to Fannie, Freddie

Lack of capital is the biggest risk facing government-sponsored enterprises Fannie Mae and Freddie Mac and the one with the potential to further escalate, Federal Housing Finance Agency Director Mel Watt stated in a Feb. 18 speech at the Bipartisan Policy Center in Washington, HousingWire reported.

 
Feb 24, 2016 12:30 PM

CFPB Seeks Comments on Rural Designation Proposal

The Consumer Financial Protection Bureau on Feb. 18 opened for comment procedures that would allow businesses to appeal the agency's designation of a rural or underserved area. The Dodd-Frank Act gave the CFPB discretionary authority to exempt certain loans from the qualified mortgage rule for banks serving rural or underserved areas.

 
Feb 24, 2016 12:30 PM

Report: TILA-RESPA Slows Down Mortgage Process

The average closing time for a residential mortgage increased to 50 days, a 10-day increase from one year ago, and the change is attributed to the Consumer Financial Protection Bureau's TILA-RESPA disclosure rules, according to a report from Ellie Mae, HousingWire reported Feb. 17.

 
Feb 24, 2016 12:30 PM

Fed Regulator: Break up Big Banks

Federal Reserve Bank of Minneapolis President Neel Kashkari, who formerly managed Treasury's Troubled Asset Relief Program, said in a Feb. 16 speech in Washington that the biggest banks are still too big to fail and pose a significant risk to the economy, Bloomberg reported. Kashkari said he is researching ways to strengthen banking laws.

 
Feb 23, 2016 08:00 AM

Appraisal Institute Heads to Charlotte for 2016 Annual Conference

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced today that its 2016 Annual Conference will take place July 25-27 in Charlotte, North Carolina. Registration opens March 2.

 
Feb 17, 2016 12:30 PM

Yellen: Fed not on 'Pre-set' Path to 'Normal' Policy

Federal Reserve Chair Janet Yellen told Congress Feb. 11 that the central bank was not on a "pre-set" path to "normal" policy due to worsening global stock market conditions, Reuters reported. Yellen said that she anticipates a gradual rise in rates this year.

 
Feb 17, 2016 12:30 PM

Homeowner, Appraiser Value Opinions Nearing Common Ground

The gap between homeowner and appraiser opinions of real estate value continues to narrow, with appraised values in January only 1.75 percent lower than homeowner expectations, Quicken Loans reported Feb. 9 in its Home Price Perception Index.

 
Feb 17, 2016 12:30 PM

Morgan Stanley Settles 'Deceptive' Mortgage Practices for $3.2B

Morgan Stanley settled for $3.2 billion lawsuits filed by multiple states over allegedly deceptive mortgage practices leading up to the financial crisis, HousingWire reported Feb. 11. The settlement will be dispersed as both consumer relief and as payments to state governments.

 
Feb 10, 2016 12:30 PM

House Committee Passes Bill on Controversial Fiduciary Rule

The House Education and the Workforce Committee approved on Feb. 2 HR 4293, legislation that provides an alternative to the U.S. Department of Labor's controversial proposed rule to amend the definition of fiduciary under the Employee Retirement Income Security Act.

 
Feb 10, 2016 12:30 PM

Fed Testing Banks on Negative Interest Rates

The Federal Reserve's 2016 stress tests will examine how well big banks handle extended periods of time with negative interest rates on the three-month Treasury bill, Bloomberg reported Feb. 2. The Fed's action is a response to below-zero rates already in place in other countries.

 
Feb 10, 2016 12:30 PM

Flint Water Crisis Impacting Mortgage Lending

The contaminated water crisis in Flint, Michigan, could prevent buyers from securing home loans in the area due to minimum lender requirements of livability, HousingWire reported Feb. 4.

 
Feb 04, 2016 08:00 AM

Appraisal Institute, RESNET Agree to Coordinate Energy Efficiency Efforts

The nation’s largest professional association of real estate appraisers and a U.S. standards-setting body for energy efficiency rating and certification systems have agreed to work together to promote education, research and data standards.

 
Feb 03, 2016 12:30 PM

Mortgage Rates Drop Yet Again

Average fixed mortgage rates fell for the fourth consecutive week as the Fed held interest rates steady, Freddie Mac reported Jan. 28 in its Primary Mortgage Market Survey.

 
Feb 03, 2016 12:30 PM

Report: Real Estate Accounts for More than Half of World's Assets

The value of all developed real estate in the world reached $217 trillion last year, accounting for 60 percent of all mainstream assets around the world and amounting to 2.7 times the world's GDP, according to a report from real estate adviser Savills, MarketWatch reported Jan. 25.

 
Feb 03, 2016 12:30 PM

Fannie, Freddie Finalize Rep and Warranty Policies

The Federal Housing Finance Agency announced Feb. 2 that Fannie Mae and Freddie Mac are implementing an independent dispute resolution process for loans that trigger a repurchase request due to perceived violations of their representation and warranty framework, HousingWire reported.

 
Jan 29, 2016 08:00 AM

Appraisal Institute 2015 Media Coverage Seen Nearly 2 Billion Times

Media stories including the Appraisal Institute and its professionals in 2015 were potentially read, seen or heard nearly 2 billion times, the nation’s largest professional association of real estate appraisers announced today.

 
Jan 27, 2016 12:30 PM

Fannie Mae: Housing Affordability to Decrease this Year

Housing affordability is expected to decrease this year, especially on the low-end of the market where price gains are expected to outpace household income growth, which negatively affects affordability, Fannie Mae's Economic & Strategic Research Group reported Jan. 14.

 
Jan 27, 2016 12:30 PM

FDIC: Closely held Community Banks Outperform Peers

Closely held community banks have significantly outperformed widely held banks relative to financial performance and operational efficiency, according to research from the Federal Deposit Insurance Corporation, ABA Banking Journal reported Jan. 19. The survey further showed that closely held institutions were likely to be older and more rural.

 
Jan 27, 2016 12:30 PM

Virginia Settles $63 Million Suit with 11 Banks for RMBS Fraud

The Commonwealth of Virginia announced Jan. 22 that it reached a $63 million settlement with 11 banks over allegations that they defrauded the state's retirement system by allegedly misrepresenting the quality of residential mortgage-backed securities, HousingWire reported.

 
Jan 20, 2016 12:30 PM

Beige Book: Residential, Commercial Activity Improving

Activity has improved in both the residential and commercial real estate sectors, including increased housing and commercial rental rates in most Fed districts, the Federal Reserve reported Jan. 13 in its latest Beige Book. Residential and commercial construction was described as modest to moderate in most Fed districts.

 
Jan 20, 2016 12:30 PM

Global Urbanization among Top 6 CRE Trends

The increased growth of urban centers is cited as this year's top commercial real estate trend as people seek enhanced access to jobs, services and amenities, National Real Estate Investor reported Jan. 14. Other CRE trends: higher interest rates, continued stress on the retail sector and lower energy prices.

 
Jan 20, 2016 12:30 PM

Report: Gap Shrinks Between Appraiser, Homeowner Value Opinions

The difference between appraiser and homeowner opinions of real estate value is declining, but December marked the 11th consecutive month in which homeowner estimates were higher than those of appraisers, Quicken Loans reported Jan. 13 in its Home Price Perception Index.

 
Jan 13, 2016 12:30 PM

Phoenix is Top City for 'Smart' Homes

Builders in Phoenix lead the smart-home charge, making it the top market for wired houses, Realtor.com reported Jan. 4. Other top markets for tech-heavy homes include Dallas, New York, Miami and Los Angeles. Noticeably absent: cities in and around the tech hub of Silicon Valley.

 
Jan 13, 2016 12:30 PM

Report: Sell Non-performing Loans to Private Investors

Selling non-performing loans to private investors is a good thing because investors can do more to help borrowers than can the U.S. Department of Housing and Urban Development - although such sales are facing increased criticism, according to a report released Jan. 6 by the Urban Institute.

 
Jan 13, 2016 12:30 PM

Manhattan Land worth More than $1 Trillion

The value of all the land in Manhattan is about $1.4 trillion, according to data released by economists Jason Barr, Fred Smith and Sayali Kulkarni and reported by Vox Media Jan. 6. Land prices in Manhattan have increased 15.8 percent annually since 1993.

 
Jan 07, 2016 08:00 AM

New Appraisal Institute Book Says Architectural Elements Can Impact Home Values

Construction elements give residential architectural styles their unique quality, but also may affect a home’s value according to a new book from the nation’s largest professional association of real estate appraisers.

 
Jan 06, 2016 12:30 PM

GAO: Dodd-Frank Costing Community Banks, Credit Unions

The Government Accountability Office on Dec. 30 released its annual report in which it said that the Dodd-Frank Act has been a burden on community banks and credit unions but noted that regulators are struggling to quantify exact costs.

 
Jan 06, 2016 12:30 PM

Court Dismisses Quicken Loans Lawsuit against DOJ

A federal judge on Dec. 31 dismissed a lawsuit that Quicken Loans filed against the U.S. Department of Justice that alleged the company was being forced to make false admissions about and pay a big settlement over its mortgage lending and underwriting practices, Reuters reported.

 
Jan 06, 2016 12:30 PM

Initial TRID Enforcement Actions Corrective, Not Punitive

The Consumer Financial Protection Bureau said it viewed the first months of implementation of its RESPA/TILA Integrated Disclosure rule as "corrective and diagnostic, rather than punitive," noting concern that investors may be rejecting TRID loans for minor errors, MBA NewsLink reported Jan. 4.

 
Dec 31, 2015 11:55 AM

Raising Appraisal Limits Could Hurt Consumers, Bank Appraisers Say

More than 80 percent of bank appraisers think reducing the number of loans requiring an appraisal could increase risk to borrowers, according to a survey of its professionals released today by the nation’s largest professional association of real estate appraisers.

 
Dec 30, 2015 08:00 AM

Scott Robinson to Become President of Appraisal Institute on Jan. 1

Scott Robinson, MAI, SRA, AI-GRS, of Salisbury, North Carolina, 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 16, 2015 12:30 PM

FHA to Increase Some Loan Limits in 2016

The Federal Housing Administration announced Dec. 9 that it will raise loan limits in 188 counties in 2016, HousingWire reported. However, loan limits in "high-cost" areas will remain at the national ceiling of $625,500 and limits for "low-cost" areas will stay at $271,050.

 
Dec 16, 2015 12:30 PM

Report: Most New Mortgage Loans Have TRID Violations

A review of new mortgage loans revealed that more than 90 percent showed compliance violations with the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosures rule, according to a Dec. 10 report from Moody's Investors Service, HousingWire reported.

 
Dec 16, 2015 12:30 PM

Report: Gap between Appraiser, Homeowner Opinions Continues to Decline

The difference between appraiser and homeowner opinions of home value shrank for the third consecutive month, but the November Home Price Perception Index released Dec. 8 by Quicken Loans is the 10th consecutive index in which homeowners' expectations of value exceeded appraisers' opinions of value.​

 
Dec 16, 2015 08:00 AM

Appraisers Should Be Cautious of MLS Price Discrepancies: The Appraisal Journal

Prices reported in multiple listing services may differ significantly from prices reported on HUD-1 settlement statements and these discrepancies are likely to be larger during a market bust, according to an article published this week in The Appraisal Journal.

 
Dec 09, 2015 12:30 PM

Fed Restricts 'Too Big To Fail' Bailouts

The Federal Reserve Board of Governors on Nov. 30 approved a final rule restricting its emergency lending program from bailing out troubled financial institutions, HousingWire reported. The Fed will cease financial support to specific companies, and will only consider emergency lending for "broad-based" issues impacting larger market concerns.

 
Dec 09, 2015 12:30 PM

Quicken Loans May Ditch FHA Loan Program

Quicken Loans is considering leaving the Federal Housing Administration's first-time homebuyer program after voicing concerns about the FHA's methods for resolving unpaid loan obligations, Reuters reported Dec. 2. Quicken joins JPMorgan Chase, Bank of America and Wells Fargo in voicing frustration with the program.

 
Dec 09, 2015 12:30 PM

HUD Warns of Fraudulent, Inflated Reverse Mortgage Appraisals

The Office of the Inspector General for the U.S. Department of Housing and Urban Development on Nov. 30 warned of fraudulent appraisals being used to boost loan amounts for the refinancing of HUD's Home Equity Conversion Mortgages, HousingWire reported. Some appraised values were inflated by 60 to 100 percent more than actual market values.

 
Dec 02, 2015 12:30 PM

Survey: Lending Not Delayed by TRID

Concerns about lending delays caused by the TILA-RESPA Integrated Disclosures Rule that took effect in October appear unfounded, according to a Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, HousingWire reported Nov. 23. The total average closing time for most loan types remained relatively unchanged between September and October.

 
Dec 02, 2015 12:30 PM

FHFA: Few Changes to 2016 Conforming Loan Limits

The Federal Housing Finance Agency announced Nov. 25 that conforming loan limits will remain at $417,000 for loans acquired by Fannie Mae and Freddie Mac in most of the U.S. in 2016, HousingWire reported. The limit will rise in 39 “high-cost” counties, including some in California, Massachusetts, Colorado and Washington.

 
Dec 02, 2015 12:30 PM

Google Launches Mortgage Comparison Tool

Google is rolling out a mortgage comparison tool through its Compare service, a move that will give homebuyers another way in which to shop for a mortgage, HousingWire reported Nov. 23. The comparison tool currently is available only in California, with more states to follow.

 
Nov 25, 2015 12:30 PM

Errors Abound in CFPB Complaint Portal

The Consumer Financial Protection Bureau's consumer complaint database allegedly is riddled with errors and distrusted by some of its own employees, according to internal documents and interviews with current and former agency officials, National Mortgage News reported Nov. 18.

 
Nov 25, 2015 12:30 PM

Rising Valuations Means Uncertain Commercial Market

Some investment managers reported worrisome signs in commercial mortgage-backed securities due to loosening underwriting standards, and while they noted the market appears "frothy" as a result of high commercial valuations, they aren't yet forecasting a bubble, Bloomberg Business reported Nov. 18.

 
Nov 25, 2015 12:30 PM

Mortgage Firm Settles Multistate Suit over Appraisal Fees

Prospect Mortgage settled with the Multi-State Mortgage Committee on behalf of 50 state mortgage regulators after investigators uncovered a pattern of improperly disclosed and unsupported fees paid to the company's affiliate, C2C Appraisal Services, HousingWire reported Nov. 19. Prospect will pay more than $10 million in fines and restitution.

 
Nov 24, 2015 08:00 AM

Appraisal Institute, Building Codes Assistance Project Offer ‘Green’ Appraisal Guidance

The Appraisal Institute and the Building Codes Assistance Project today released guidance for homebuilders, buyers and lenders related to valuation of green and energy-efficient homes.

 
Nov 18, 2015 12:30 PM

Mortgage Rates Rise for Second Consecutive Week

Averaged fixed mortgage rates rose for the second consecutive week, amid continued expectations of a rate increase by the Federal Reserve and a stronger than expected October jobs report, Freddie Mac reported in its Primary Mortgage Market Survey on Nov. 12.

 
Nov 18, 2015 12:30 PM

Study: Solar Energy Systems Boost Home Values

Homes with host-owned solar photovoltaic energy systems sell for a premium compared to homes without PV systems, according to a study authored by Appraisal Institute member Sandra K. Adomatis, SRA, and released Nov. 12 by the U.S. Department of Energy's Lawrence Berkeley National Laboratory

 
Nov 18, 2015 12:30 PM

Report: Gap Narrows between Appraiser, Homeowner Value Opinions

The discrepancy between appraiser and homeowner opinions of home values is shrinking, but October still was the ninth consecutive month in which homeowner estimates exceeded those of appraisers, Quicken Loans reported Nov. 10 in its Home Price Perception Index.

 
Nov 18, 2015 08:00 AM

New Appraisal Institute Seminar Offers FHA Guidance

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today launched a seminar to help appraisers develop a better understanding of the Federal Housing Administration’s new “FHA Handbook 4000.1.”

 
Nov 12, 2015 11:33 AM

Solar Energy Systems Boost Home Values, Says Appraisal Institute Member-Led Study

An Appraisal Institute member specializing in valuation of green homes has produced a study released today by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory that found homes with host-owned solar photovoltaic energy systems are sold at a premium compared to homes without PV systems.​

 
Nov 11, 2015 12:30 PM

Despite Freddie Mac Quarterly Loss, No Aid Necessary

Freddie Mac's third-quarter loss was its first since 2011, but despite the shortfall, additional aid from the U.S. Department of the Treasury won't be needed, Bloomberg reported Nov. 3. Freddie has operated under federal conservatorship since 2008 and received $71.3 billion in aid; it regained profitability in 2012 and returned $96.5 billion to Treasury.

 
Nov 11, 2015 12:30 PM

Fed Sees Possible Commercial Real Estate Bubble

Eric Rosengren, president of the Boston Fed, expressed concern about the rapid rise in commercial real estate prices, noting in a Nov. 9 speech in Rhode Island, that investors are compensating for low rates by taking on too much risk in order to improve returns, MarketWatch reported.

 
Nov 11, 2015 12:30 PM

Yellen: December Rate Hike a 'Live Possibility'

Federal Reserve Chair Janet Yellen's remarks to the House Financial Services Committee on Nov. 4 formally allowed the possibility of a rate hike when the Federal Open Markets Committee meets in December, HousingWire reported. The Fed has not raised interest rates since June 2006.

 
Nov 04, 2015 12:30 PM

FHA Revising Condo Rules

The Federal Housing Administration is in the process of revising its condo rules, but the agency doesn't have a timeframe for completion, according to comments from U.S. Department of Housing and Urban Development Secretary Julian Castro at an Oct. 27 housing event in Washington, National Mortgage News reported.

 
Nov 04, 2015 12:30 PM

CFPB Releases 2016 List of Rural, Underserved Counties

The Consumer Financial Protection Bureau on Oct. 29 released its updated list of the nation's rural and underserved counties, HousingWire reported. In September, the agency finalized changes to its mortgage rules to increase the number of financial institutions able to provide mortgages in rural and underserved areas.

 
Nov 04, 2015 12:30 PM

Living Area is Most Common Appraisal Report Adjustment

The living area is the most frequently adjusted home feature in appraisal reports, with 96.4 percent of appraisal reports warranting an adjustment, analytics firm CoreLogic reported Oct. 28. The report noted that adjustments to quality rating and overall condition of a home have the largest financial impact.

 
Nov 03, 2015 08:00 AM

Time to Winterize is Now, Appraisal Institute Tells Homeowners

The nation’s largest professional association of real estate appraisers today encouraged consumers to winterize their homes now for cold weather ahead to increase comfort, save money and possibly increase value.

 
Oct 29, 2015 08:00 AM

Appraisal Institute Dictionary Updated to Enhance Appraisers’ Knowledge

“The Dictionary of Real Estate Appraisal,” sixth edition, published this week by the Appraisal Institute, includes more than 5,000 entries, 1,250 revised definitions and 450 new terms and has been updated for consistency with current professional standards documents and with Appraisal Institute materials.​

 
Oct 28, 2015 04:07 PM

FHFA Considering Appraisal Representations, Warranties

Federal Housing Finance Agency Director Melvin Watt, speaking at the Mortgage Bankers Association Annual Convention and Expo in San Diego Oct. 19, said his agency is conducting pilot programs that would consider representations and warranties for appraisals submitted to the government-sponsored enterprises.​

 
Oct 28, 2015 12:30 PM

FHA Abandons Insurance Claims Deadline

The Federal Housing Administration reportedly will abandon its plan to establish a deadline for lenders and servicers to file FHA insurance claims, citing mortgage industry concerns, HousingWire reported Oct. 19. In July, the FHA had proposed a three-month claims deadline.

 
Oct 28, 2015 12:30 PM

Report: Green DC Homes Sell for More Green

Washington homebuyers are willing to pay nearly 3.5 percent more for high-performance homes, according to a report authored by Sandra K. Adomatis, SRA, and released Oct. 22 by the Institute for Market Transformation and the District of Columbia’s Department of Energy and Environment.

 
Oct 27, 2015 08:00 AM

Appraisal Institute Bestows First Review Designation to Non-Designated Member

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

 
Oct 21, 2015 12:30 PM

Report: Appraisers, Homeowners Still Differ on Value Opinions

The disparity between homeowner and appraiser opinions of home values increased for the eighth consecutive month, mortgage lender Quicken Loans reported Oct. 13 in its Home Price Perception Index. However, September marked the first month the gap has narrowed since February.

 
Oct 21, 2015 12:30 PM

White House Rejects Idea to Recapitalize, Release GSEs

The White House on Oct. 19 said that it has no plans to support the recapitalization of government-sponsored enterprises Fannie Mae and Freddie Mac or release them from conservatorship, HousingWire reported. Officials said the only acceptable path is comprehensive housing policy reform.

 
Oct 21, 2015 12:30 AM

Beige Book: Residential, Commercial Activity Improves

Residential real estate activity has been positive in most Fed districts, with many reporting that moderately priced homes have outperformed those at the high-end of the market, the Federal Reserve reported Oct. 14 in its newest Beige Book. Commercial and multifamily activity also has improved in all 12 Fed districts.

 
Oct 20, 2015 11:30 AM

Appraisal Institute Joins in Producing ‘Green’ Valuation Guide for Lenders

The Appraisal Institute, the Institute for Market Transformation and the District of Columbia’s Department of Energy and Environment today released a guide intended to help lenders understand the valuation of high-performance buildings.

 
Oct 14, 2015 12:30 PM

Fannie, Freddie Unveil New Mortgage Buyback Rules

Fannie Mae and Freddie Mac announced on Oct. 7 their plan to implement new repurchase procedures that would provide lenders with more clarity and transparency and encourage them to increase access to credit for qualified borrowers, HousingWire reported. The new rules takes effect Jan. 1.

 
Oct 14, 2015 12:30 PM

CFPB Issues Guidance on Marketing Service Agreements

The Consumer Financial Protection Bureau on Oct. 8 provided additional guidance to the mortgage industry concerning marketing service agreements, offering an overview of the federal prohibition on mortgage kickbacks and referral fees and the risks lenders face by entering into these agreements.

 
Oct 14, 2015 12:30 PM

Maryland Reduces Appraiser Licensing Fees

Maryland Gov. Larry Hogan announced on Oct. 6 plans to reduce or eliminate more than 100 state fees, including professional licenses for appraisers and real estate brokers, the Baltimore Sun reported.​

 
Oct 14, 2015 08:00 AM

Appraisal Institute, Land Trust Alliance Agree to Promote Appraisals for Conservation Easements

The Appraisal Institute and the Land Trust Alliance today announced they will enhance cooperative efforts to promote the quality of appraisals prepared for conservation easements.

 
Oct 07, 2015 12:30 PM

Single-family Homes Can Ease Affordable Rental Shortage

As many as 13 million families will become renters over the next 20 years, according to the Urban Institute, which reported Sept. 28 that single-family homes could be used to help solve the shortage of affordable rental housing if government programs didn't routinely exclude them.

 
Oct 07, 2015 12:30 PM

Ginnie Mae Increases Lender Reporting Requirements

Ginnie Mae will increase oversight of non-bank issuers by adding more reporting requirements and conducting deeper analysis of their capital and liquidity positions, National Mortgage News reported Sept. 29.

 
Oct 07, 2015 12:30 PM

Big Banks Accused of Violating Foreclosure Settlement

The nation's biggest lenders are being accused by some housing counselors and government prosecutors of continuing to violate terms of the 2012 settlement in which five of the nation's largest banks agreed to pay $25 billion to resolve accusations of deceptive foreclosure practices, Politico reported Sept. 28.

 
Sep 30, 2015 12:30 PM

Freddie Offers Rebate to Multifamily Borrowers with Energy Star Score

Freddie Mac announced on Sept. 15 a new program to help increase the energy efficiency of multifamily properties by offering a rebate on new mortgages for borrowers who voluntarily submit an Energy Star Score with their loan documents.

 
Sep 30, 2015 12:30 PM

Fed: Dodd-Frank Not Hurting Mortgage Access

Qualified mortgage rules that took effect January 2014 and were mandated by the Dodd-Frank Act have had little effect on consumers' ability to get a mortgage, according to a Federal Reserve review of mortgage disclosure data, MarketWatch reported Sept. 22.

 
Sep 30, 2015 12:30 PM

Cordray Signals 'Hold-Harmless' Period for TRID Compliance

Consumer Financial Protection Bureau Director Richard Cordray delivered his semi-annual report to the House Financial Services Committee Sept. 29, signaling that financial regulators are working on guidance for a "hold-harmless" period to facilitate compliance with TILA-RESPA integrated disclosures that take effect Oct. 3, the ABA Banking Journal reported.

 
Sep 23, 2015 12:30 PM

IRS Issues Guidance on REITs

The Internal Revenue Service, worried that companies increasingly are creating real estate investment trusts to avoid taxes, announced Sept. 15 that it would stop pre-approving deals and issued new guidance stating that REITs must have a legitimate business purpose, GlobeSt.com reported.

 
Sep 23, 2015 12:30 PM

Fed Keeps Benchmark Interest Rate Unchanged

The Federal Reserve decided Sept. 17 to keep its benchmark interest rate unchanged due to global economic weakness and financial market uncertainty, USA Today reported. During the run-up to the meeting, economists had heated debates about whether the central bank would raise the rate, which has been near zero since 2008.

 
Sep 23, 2015 12:30 PM

CFPB Rule Increases Credit Access in Rural and Underserved Areas

The Consumer Financial Protection Bureau on Sept. 21 announced a new rule that will increase the number of financial institutions able to provide mortgages in rural and underserved areas, and gives lenders time to adjust their business practices to comply with the rules, which take effect Jan. 1.

 
Sep 22, 2015 08:00 AM

Valuing Automobile Dealerships Brings Challenges: The Appraisal Journal

Appraisers tasked with valuing automobile dealerships are met with unique challenges for generating an opinion of value on this specialized property type, according to an article published this week in The Appraisal Journal.

 
Sep 16, 2015 12:30 PM

Fannie, Freddie add UCDP Appraisal-sharing Functionality

Fannie Mae and Freddie Mac announced Sept. 8 that they will implement new appraisal-sharing functionality within the Uniform Collateral Data Portal during the first quarter of 2016. The feature will allow correspondent lenders to share appraisal information within the UCDP with their aggregators.

 
Sep 16, 2015 12:30 PM

Freddie Changes Mortgage Modification Rules

Freddie Mac announced Sept. 9 that it's changing its guidelines for standard and streamlined modifications so more borrowers can qualify, HousingWire reported. Freddie also said it was changing eligibility rules for MyCity modification programs, which are designed to help stabilize communities hit hard by the housing crisis

 
Sep 16, 2015 12:30 PM

Gap Expands Between Homeowner, Appraiser Opinions

The gap between homeowner and appraiser opinions of property values increased for the seventh consecutive month, mortgage lender Quicken Loans reported Sept. 8 in its Home Price Perception Index. The discrepancy was attributed to homeowners assuming home values have been steadily increasing.

 
Sep 09, 2015 04:14 PM

Credit Suisse Ordered to Pay $287.5M over Flawed Appraisal

A Texas court found that Credit Suisse used a flawed appraisal to "dupe" private equity firm Highland Capital Management into refinancing a Las Vegas-area development that ultimately went bankrupt, Bloomberg reported Sept. 4. Credit Suisse was ordered to pay Highland Capital Management $287.5 million for losses it suffered.

 
Sep 09, 2015 04:13 PM

HUD Proposes Rule Changes for FHA Loans

The U.S. Department of Housing and Urban Development on Sept. 1 unveiled proposed changes to its rules for lenders that remit loans to the Federal Housing Administration, HousingWire reported. The new proposal revises rules first proposed in July that reportedly irked key members of the Senate Banking and House Financial Services committees.

 
Sep 09, 2015 12:30 PM

Fitch: Mortgage Origination, Appraisal Changes Combat Fraud

Ratings agency Fitch Ratings said that post-recession modifications made to residential mortgage origination practices, including reduced communication between originators and appraisers during the loan production process, have helped to lower the risk of fraud and misrepresentation, MBA NewsLink reported Sept. 2.

 
Sep 02, 2015 12:30 PM

Fannie: Economic Growth Slows in Second Quarter

Economic growth was slower than expected in the second quarter, as a strong dollar, reduced oil prices and a drop in nonresidential investment stymied growth, Fannie Mae's Economic & Strategic Research Group reported Aug. 24. The group sees some improvement in the housing sector, with lean inventories and home sales trending up.

 
Sep 02, 2015 12:30 PM

BofA Settles Appraiser Overtime Lawsuit

Bank of America’s appraisal subsidiary, LandSafe Appraisal Services, agreed to pay $36 million to settle a lawsuit alleging the misclassification of 365 current and former appraisers as exempt from overtime when they actually were eligible, the San Francisco Chronicle reported Aug. 27. The employees will each receive $60,000 to $65,000.

 
Sep 02, 2015 12:30 PM

Austin Sues Texas over Unfair Appraisal System

A lawsuit filed Aug. 24 against the state of Texas by the city of Austin alleges the state’s property appraisal system unfairly enforces an imbalance in the tax burdens between residential and commercial property owners, and that the appraised values of commercial property don’t match market prices, the Texas Tribune reported.

 
Aug 26, 2015 04:16 PM

FHFA Sets Low-income Housing Goals for Fannie, Freddie

The Federal Housing Finance Agency on Aug. 19 set new two-year goals for Fannie Mae and Freddie Mac to increase the number of mortgages issued to low-income consumers and to landlords who rent to those individuals, The New York Times reported.

 
Aug 26, 2015 04:16 PM

Report: Too Late for FHFA to Offer Principal Reduction

The Federal Housing Finance Agency is reconsidering its ban on principal reductions for Fannie Mae and Freddie Mac loans, but the move now would have little impact because the housing market has recovered enough to eliminate most negative equity, according to an Aug. 18 report from think tank Urban Institute.​

 
Aug 26, 2015 12:30 PM

AMCs, Lenders, Real Estate Firms among Fastest-growing Companies

The 2015 Inc. 5000 list released Aug. 12 ranked America's fastest growing private companies in America, and several appraisal management companies, mortgage lenders and real estate businesses made the cut, including Coester VMS (ranked 1,868) and Accurate Group (ranked 2,513).

 
Aug 19, 2015 12:30 PM

Mandatory Registration Begins for FHA Appraisal Portal

The mandatory registration period for the Federal Housing Administration's Electronic Appraisal Delivery portal began Aug. 17, and all FHA-approved mortgagees must register for and participate in a 60-day onboarding phase to familiarize themselves with the portal, HousingWire reported. Onboarding begins Oct. 15 and all users must be registered by June 26, 2016.

 
Aug 19, 2015 12:30 PM

Bank of America Sells Appraisal Business

Bank of America announced Aug. 8 that it's selling its real estate appraisal business to analytics firm CoreLogic for an undisclosed sum, the Charlotte Observer reported. The bank acquired the business in 2008 through its acuisition of mortgage company Countrywide Financial Corp.

 
Aug 19, 2015 12:30 PM

Gap Widens between Homeowner, Appraiser Opinions

The gap between homeowner and appraiser opinions of home values has nearly doubled since May, mortgage lender Quicken Loans reported Aug. 11 in its Home Price Perception Index. The discrepancy was attributed to homeowners seeing national headlines about increased home values.

 
Aug 12, 2015 12:30 PM

Fed Repo System Could Impact Millions of Mortgages

The Federal Reserve reportedly will expand its use of overnight reverse repo agreements to help drain the $4.5 trillion it has on its balance sheet from years of quantitative easing, and doing so while raising interest rates could significantly affect the mortgage-backed securities market, Bloomberg reported Aug. 5.

 
Aug 12, 2015 12:30 PM

New Collateral Underwriter Releases in September

Fannie Mae announced Aug. 4 that it will release Collateral Underwriter 3.0 on Sept. 26. The updated version will provide access to appraisal data, risk score, flags and messages in the CU Web application within 10 minutes of submitting an appraisal through the Uniform Collateral Data Portal (Forms 1004/1073 only).

 
Aug 12, 2015 12:30 PM

NC Passes Recordkeeping and Background Check Legislation

North Carolina Gov. Pat McCrory on Aug. 5 signed into law HB 651, legislation that eliminates the discovery rule for civil action related to real estate appraisals and establishes a five-year statute of limitations that brings the state in line with the Uniform Standards of Professional Appraisal Practice.​

 
Aug 05, 2015 12:30 PM

Mortgage Rates Drop as Foreign Markets Disappoint

Average fixed mortgage rates dropped during the past week as foreign markets - particularly China - reported disappointing economic performance, Freddie Mac reported July 30 in its Primary Mortgage Market Survey.

 
Aug 05, 2015 12:30 PM

CFPB Asks Mortgage Industry to Stop Using MSAs

The Consumer Financial Protection Bureau reportedly is concerned about the business model behind marketing services agreements and wants mortgage lenders to stop using them, HousingWire reported July 30. The CFPB recently has fined lenders for alleged kickbacks and other MSA-related violations.

 
Aug 05, 2015 12:30 PM

House Committee Says Dodd-Frank Hurting Recovery

The House Financial Services Committee held a hearing July 28 to review the nation's economic prosperity in the five years since Dodd-Frank was enacted, with committee Republicans saying the law's regulatory burdens have done more harm than good, HousingWire reported.

 
Jul 31, 2015 08:00 AM

Jim Murrett Elected 2016 Appraisal Institute Vice President

James L. Murrett, MAI, SRA, of Hamburg, New York, was elected 2016 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Dallas. Murrett’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president.

 
Jul 30, 2015 10:00 AM

Appraisal Institute Honors 8 National Award Winners

John P. Fredrickson, MAI, SRA, of Walla Walla, Washington; Jerome Haims, MAI, SRA, of New York; and Richard A. Stephens, MAI, SRA, AI-GRS, of Little Rock, Arkansas, were honored with the Lifetime Achievement Award and Michael V. Tankersley, MAI, SRA, AI-RRS, of Lewisburg, Tennessee, was named the recipient of the Outstanding Service Award during the Appraisal Institute Annual Meeting Wednesday in Dallas.

 
Jul 29, 2015 12:30 PM

Fed Directs 8 Largest US Banks to Hold Extra Capital

Federal regulators are directing the eight largest U.S. banks to maintain capital at levels beyond industry requirements to protect against unexpected losses and to reduce the possibility of future taxpayer bailouts, the Chicago Tribune reported July 20. The banks will have to jointly possess $200 billion in additional capital.

 
Jul 29, 2015 12:30 PM

Mortgage Rates Reverse Course

Mixed economic and lending reports caused average fixed mortgage rates to drop during the past week, Freddie Mac reported July 23 in its Primary Mortgage Market Survey.

 
Jul 29, 2015 12:30 PM

Court Orders Release of Fannie, Freddie Conservatorship Docs

A Federal Claims Court on July 21 granted a motion requiring the U.S. Department of the Treasury to release all discovery document materials related to the decision to put Fannie Mae and Freddie Mac into conservatorship, HousingWire reported.

 
Jul 22, 2015 12:30 PM

Beige Book: Residential, Commercial Markets Improving

The Federal Reserve Beige Book released July 15 showed positive activity in both residential and commercial real estate markets, including increases in home sales, home-price appreciation and declining inventory in most districts. Several districts reported modest-to-moderate increases in commercial real estate activity.

 
Jul 22, 2015 12:30 PM

Appraiser, Homeowner Opinions Growing Further Apart

June was the fifth consecutive month when homeowner and appraiser opinions on home values grew further apart, Quicken Loans reported July 14 in its Home Price Perception Index. The disparity is attributed to the normalization of home prices across the country.

 
Jul 22, 2015 12:30 PM

Georgia Proposes AMC Fee Rule, Releases Fee Study

The Georgia Real Estate Appraisers Board on July 17 proposed a rule requiring appraisal management companies to pay appraisers customary and reasonable fees for appraisal services performed for single- to four-family residential dwellings. The Board also released the results of an appraisal fee study.

 
Jul 15, 2015 01:08 PM

Industry Groups Join Fanni