It Ain’t Easy Going Green

One of the challenges with greening residential real estate has been appropriately valuing such features in the appraisal process.  According to the National Mortgage Professional, “Home builders and others have complained that appraisers often don’t properly take into account...
January 25, 2011

HUD Eliminates Master Appraisal Report

The US Department of Housing and Urban Development (HUD) released ML 2011-07: Elimination of the Master Appraisal Report (MAR) effective January 12, 2011, for mortgages insured by the Federal Housing Administration (FHA). Previously, MARs allowed developers to obtain an...
January 21, 2011

MI Realtors Purchase AMC

The Michigan Association of REALTORS® (MIR) announced last week that the organization purchased an appraisal management company (AMC).  The state association acquired Midwest AMG, which will serve as a wholly owned, for-profit subsidiary.  According to MIR, “[t]his means in...
December 27, 2010

GSEs Announce updates to UMDP

The Uniform Mortgage Data Program (UMDP) is a joint effort between the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac, to create uniform data standards and collection processes. The program will create efficiency, strengthen risk management for the...
December 17, 2010

Blame the Appraisers

Interesting story from Fox Business blaming appraisers for current challenges in the housing market.  We’re certain there’s a fact somewhere in this story but we couldn’t find it....
December 13, 2010

The Agencies Have Spoken

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the National Credit Union Administration (NCUA) – collectively...
December 7, 2010

Appraisal Foundation Looking for Subject Matter Experts

Last week the Appraisal Foundation’s Appraisal Practices Board (APB) put out a call for subject matter experts on declining markets.  The APB is looking for experts to “assist in the research and development of voluntary guidance on Residential Appraising...
November 22, 2010

Federal Reserve Board Issues Appraiser Independence Regs

Yesterday, the Federal Reserve Board released an interim final rule on appraiser independence.  The much-anticipated interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).  In their release, the Fed states...
October 19, 2010

FHA Unveils New FAQs

The Federal Housing Administration (FHA) last week unveiled a new list of frequently asked questions (FAQ ).  The 26 page document covers a variety of topics on several FHA programs.  Topics include: New Construction Wood Destroying Insects/Termites Utilities –...
October 18, 2010

Rural Housing Allows for Delayed Appraisal

The US Department of Agriculture’s (USDA) Rural Development issued an Unnumbered Letter last month temporarily permitting obligations of Section 502 loans without an appraisal.  This is being done on a temporary basis and all loans must continue to meet...
October 1, 2010