Shopping Cart
Welcome,   My Account

AI News

Category:
Results: 123 Articles found.
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 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

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 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.

 
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 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

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 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 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 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

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 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 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.

 
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

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.

 
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 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

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 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

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 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 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

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 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.

 
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

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.

 
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 12:30 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 12:29 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 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 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

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 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 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.

 
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.

 

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.

 
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 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

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 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 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

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 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 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

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.

 
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.

 
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.

 

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 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 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

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.

 
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 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

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 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 10, 2017 12:30 PM

Report Shows CRE Valuations on the Rise

http://send.appraisalinstitute.org/link.cfm?r=JTsk_IUidZF_2RcpH-D3rQ~~&pe=ngP6yJg3Rj8SIfd4hqggEB3QIP​U-W3MI1-4r5I-adk0rZ4zLrPvP7DmlcHlQ9KrMNIag4uj7BFSpu6fyYoDhPQ~~​

 
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

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 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.

 
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

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.

 
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 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

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 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 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

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 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.

 
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

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 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

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 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 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

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

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 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.

 
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

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.

 
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

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 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 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

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 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

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 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 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.​

 
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

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.

 
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.

 

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

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.

 
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 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

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 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 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 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.

 
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

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.

 
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 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

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.

 

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 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.

 
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 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 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

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.

 
Aug 10, 2016 12:30 PM

CFPB Publishes 900-page Mortgage Lending Final Rule

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

 
Jul 27, 2016 02:42 PM

Court Revives Freddie Mac Subprime Suit

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

 
Jul 27, 2016 02:39 PM

‘Down-and-Out’ Neighborhoods Make a Rebound

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

 
Jul 27, 2016 02:32 PM

White House Unveils Clean Energy Initiative

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

 
 
Results: 123 Articles found.

27 47

Pop up content here.

Agree Disagree
close (X)