Industry News Blog

06/15/2011

The Department of Energy and the Appraisal Foundation are working together to help expand access to energy efficiency and building performance information for commercial buildings.  The pair plans on providing the information, guidelines and resources necessary for appraisers to evaluate energy performance for commercial building appraisals. 

Click here to read more about “Green...

06/13/2011

New laws enacted by the Vermont Legislature require an appraiser list both their license number and the fee they were paid by an AMC on all documents supplied to clients and consumers in Vermont.  The fee paid by the appraiser must also be included in the body of the appraisal report. 

06/10/2011

A new study by Interthinx revealed that the risk of fraudulent appraisals has decreased significantly over the last year, however, the risk of mortgage fraud overall remains the same.

MortgageDaily.com reported on the study’s results for Q1 2011 Mortgage Fraud Risk Report, which showed a 5 percent decrease over the last year.  The risk of appraisal fraud was down 12 percent.

Nevada topped the index with the highest incidence of mortgage fraud, followed by Arizona,...

06/08/2011

Chairman Ben Bernanke in his speech at the International Monetary Conference in Atlanta yesterday put partial blame on the mortgage industry for the slow economic recovery the United States is experiencing.  While noting rates and home prices are at historic lows, he stated that tighter underwriting has found many potential buyers unqualified.

Click here to read Bernanke's speech.

06/06/2011

The Appraisal Institute has been staying on top of the new IRS guidelines for debarment, suspension and censure processes, as well as new rules relating to tax return preparers. Language found in the IRS's new rules has AI requesting that the IRS avoid inadvertently classifying...

05/09/2011

Bernanke announced rates would remain between zero and .25 percent until the economy shows a sign of "robust" recovery and a notable increase in job growth.  Rates have remained at an all-time low since December 2008 due to multiple factors.  Bernanke made history with his first ever news conference announcing the benchmark interest rate.

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05/04/2011

It looks like a move to prohibit the use of short sales and foreclosures as comps has been tossed aside.  Four states were seeking  to keep those values from affecting their markets.  Illinois, Maryland, Missouri and Nevada have failed to get this issue approved; two bills missed the procedural deadline, one was amended and another withdrawn by its sponsor.

05/02/2011

Private mortgage insurance agencies are seeking to attract more borrowers by lowering premiums as FHA has increased theirs in light of recent events.  Government policymakers are also suggesting minimum downpayments for FHA loans be increased to five percent, another factor that could lead to less borrowers being able to make the move into a new home.

04/29/2011

HousingWire recently covered a report published by the National Association of Realtors that found certain local markets are improving despite the generalization that its region is still in decline.  Los Angeles, San Francisco and the Ft. Myers-Cape Coral area are just a few on the list of those on the rebound from drastic foreclosure rates, and are joined by other areas experiencing a significant growth.

04/26/2011

Fannie Mae economists are saying the U.S. has hit an air pocket with its national economy and are headed for another rough patch.  Economists cited multiple causes for the somewhat bleak outlook including natural disasters, the European debt crisis and a variety of U.S. factors.  The upside, or silver lining, they say is that unemployment has decreased and the stock market could be stabilizing with the Dow posting its best first quarter in 12 years.