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Industry News Blog

Last Updated: 02/19/2010

Apparently, no one is clamoring for any of the three finance leadership positions due to be vacant this August – at least not publicly. And if they are, the Appraisal Institute has yet to comment on any candidates.

For more details on the soon-to-be available positions and the Appr, go here.

What position would you like to run for???

FHA Policy and Appraiser Assignment

Last Updated: 02/15/2010

Everyone is wondering how these new FHA changes are going to be handled. Appraisers are concerned with the timing of when appraisers are assigned.

Here’s a comment from a recent forum discussion from an appraiser who has this concern. AIMSdashboard President Chris Williams offers some solid advice and a solution regarding this topic.

FHA and ePortal Submissions

Last Updated: 02/14/2010

The accommodations made by FHA to enable the logging of an FHA case # by the originating broker has some trickle over to the LO world. As with HVCC, FHA is explicitly supporting ePortal submissions from originating agents (LOs, Brokers, others in "loan production staff") and activated by the lender. So the same mechanisms available for the TPO agent, the broker, will be usable by the LOs in theory. Lenders will stipulate their own policies; but it will be allowable to have LOs use...

Analysis of Fannie and Freddie's Latest Move

Last Updated: 02/12/2010

Fannie Mae and Freddie Mac are buying back $200 million in mortgages. What does this mean to investors? Even investment executives are admitting no one knows what to do.

What do you think?

Al Yoon takes a good look at the predicament in a Reuters article. For more details on this issue, go here.

Updated Reference Book for Appraisal Industry

Last Updated: 02/10/2010

In case you haven’t heard yet, the Appraisal Institute announced the release of its updated reference work, The Dictionary of Real Estate Appraisal, fifth edition, which includes an online version for the first time. Users can access the 404-page book online.

For more information, go here.

Compliance Complications

Last Updated: 02/08/2010

There could be a huge fallout due to the new regulations designed to protect consumers from predatory lenders. Moody's Investors Service predicted that changes in the TILA and RESPA could cause turmoil for the recovery value for mortgage pools.

Under the new guidelines, borrowers could assert rescission rights or defend a foreclosure for as little as a $35 under-disclosure discrepancy.

For more information on this or other compliance news, go...

Fortune 500 Best Employers

Last Updated: 02/02/2010

Three mortgage-related companies found their way on FORTUNE magazine's list of the 100 best U.S. Employers. Are you one of them?

Starting at No. 22 is Johnson Financial Group based in Racine, Wis.; followed by Portland, Ore.-based Umpqua Bank which made the list at No. 23; and lastly, at No. 29, is Livonia, Mich.-based Quicken Loans Inc. which has made the list for seven years straight.

For the complete list, go...

Home Sales Drop

Last Updated: 01/27/2010

Existing home sales tumbled almost 17 percent for December 2009, according to the National Association of Realtors. NAR reports...

Proposed Legislation has AMCs Concerned

Last Updated: 01/25/2010

Mortgage Industry Updates

Last Updated: 01/23/2010

The Appraisal Institute has been busy keeping up with all the latest news and regulatory changes; from how the new...