Industry News

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.

Jan 23, 2019 12:30 PM

AI Opposes Residential Appraisal Threshold Increase

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

Jan 23, 2019 12:30 PM

Fed Beige Book Shows Steady Activity in Most Districts

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

Jan 23, 2019 12:30 PM

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

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

Jan 16, 2019 12:30 PM

Economic Growth Expected to Moderate Through 2020: ABA

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

Jan 16, 2019 12:30 PM

New York City's Iconic Chrysler Building On the Market

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

Jan 16, 2019 12:30 PM

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

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

Jan 09, 2019 12:30 PM

AI Seeks Public Hearing on Appraisal Threshold Increase

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