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May 2018

The Appraisal Subcommittee Denies Bank’s 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.

May 2018

Appraisal Institute Requests Appraisal Standards Board to Rework Q&As

The Appraisal Institute in an April 13 letter to the Appraisal Standards Board expressed concern that two Q&As may be amending Uniform Standards of Professional Appraisal Practice definitions and creating new requirements rather than interpreting USPAP itself. The letter formally requested changes to or the retraction of the Q&As.

May 2018

Fannie Mae, Freddie Mac 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.

May 2018

FTC Denies Louisiana Real Estate Appraisers Board Motion to Dismiss Complaint

The Federal Trade Commission on April 10 denied the Louisiana Real Estate Appraisers Board's motion to dismiss a complaint alleging it violated federal antitrust law. The hearing on the matter is scheduled for June 11.

May 2018

Tennessee Publishes Comprehensive Q&A Focused on Real Estate Evaluations

The Tennessee Department of Commerce & Insurance, which includes the state's Real Estate Appraiser Commission, published on its website April 17 a Q&A focused on real estate evaluations performed by state-licensed and state-certified appraisers.

May 2018

CoreLogic Buys a la mode technologies

Analytics firm CoreLogic announced on April 12 that it acquired a la mode technologies, a subscription-based software firm serving more than 40,000 valuation professionals, HousingWire reported. The acquisition expands CoreLogic's valuations division, which includes technology solutions firm FNC and appraisal management companies RELS and LandSafe Appraisal Services.

May 2018

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.

May 2018

Apartment Vacancies on the Rise, Rent Growth Starts to Cool: Report

Apartment occupancy dropped to 94.5 percent in March, down from 95 percent at the same point last year, and annual rent growth fell to its lowest point since 2010, analytics firm RealPage reported March 29.

May 2018

3 Texas Cities Among Nation’s Hottest Real Estate Markets, Experts Say

The Texas cities of Austin, Houston and Dallas are among the nation's hottest real estate markets, according to the Forbes Real Estate Council, Forbes reported April 3. Other top markets: Los Angeles, Miami and Phoenix.

May 2018

Boomers, Gen Xers Want to Rent: Report

Baby boomers and Gen Xers said their interest in buying a home is waning because renting is more affordable, Freddie Mac reported April 4 in its Profile of Today's Renter report. Sixty-seven percent of current renters said they will continue to rent, up from 59 percent just two years ago.