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Category Archives: Appraising
FNC Index: Home Prices Nationwide Up 0.8%; San Francisco Market Declines for First Time Since 2012 Recovery
Below is this month’s update to the FNC Residential Price Index (http://www.fncrpi.com/) written by Yanling Mayer, a senior research economist at FNC. No drastic changes to report in the market this month. Prices are continuing their general upward trend in most areas, just at a slower pace. San Francisco fell off a bit, but that won’t make much of a dent with the already incredibly high prices in that city… Continue reading
In August, I reported on an educational session I attended at The Appraisal Institute (AI) annual conference in Austin, Texas, on Aug. 4-6, 2014. In that article, I mentioned Robert Murphy from Fannie Mae covered some of the changes made in the first major update to the property and valuation section of the Fannie Mae Selling Guide since 2009. This is very important to appraisers because the Selling Guide is… Continue reading
This month, I want to take a closer look at three recent polls that address some questions appraisers wanted us to ask. First, we asked: “What best describes your office setup?” This poll was the most popular of the three with 6,121 responses. Not a big surprise here with 73 percent answering, “It’s in my home.” The second most popular answer was “It is in an office/commercial/industrial building” with 20… Continue reading
I hear a lot from appraisers concerning their interactions with various appraisal management companies (AMCs). Many keep wondering why appraisers are licensed and strictly regulated while it seems that AMCs for the most part have been left to do whatever they want. That was the case for a while; today the majority of states have already imposed regulations on AMCs. Currently, as part of the Dodd-Frank Act, a group of… Continue reading
In March, I once again traveled to Modesto, Calif., and attended the Annual Spring Conference of the Appraisal Institute’s Northern California Chapter. This month, I will share some useful and interesting information from the presentations. The conference focuses on the California market, but many of the presenters also covered topics related to the national market.
The first session was “State of the Appraisal Profession;” the speaker was Lance Coyle… Continue reading
This month, I featured three recent polls that were very popular. The first one asked a key question for most appraisers: “I think the business environment for appraisers in 2014 is going to be …” This poll collected a total of 5,460 responses and the top answer was, “About the same as 2013” receiving 35 percent of the vote… Continue reading
TILA Appraisals for Higher-Priced Mortgage Loans (Regulation Z)
The Dodd-Frank Wall Street Reform and Consumer Protection (Dodd-Frank) Act created several new categories of loans. One of those categories is “higher-risk mortgages.” Just to be confusing, “higher-risk mortgages” are called “higher-priced mortgage loans” or HPML in the regulations. In addition, they are not the same as the “High-Cost Mortgage”… Continue reading
My, how they have been busy. The Consumer Financial Protection Bureau (CFPB) has an entire wagonload of regulations going into effect in January. If you are a mortgage lender, this has been hard to miss.
Arising from the mandates of the Dodd–Frank Wall Street Reform and Consumer Protection Act (or Dodd-Frank) the CFPB issued a wide-ranging set… Continue reading
To access the PowerPoint, Q&A, and audio files from FNC’s Nov. 19 webinar on regulatory changes, click here.
This webinar addressed higher-priced mortgage loans and the new appraisal requirements; new requirements around delivering copies of appraisals and other valuations to borrowers; and ongoing changes to the GSEs’ UCDP portal… Continue reading
I have three AppraisalPort polls to discuss that are all related to a possible future shortage of appraisers. First, we asked, “With few new people currently entering the appraisal profession, do you foresee a shortage of appraisers at some point?” This was a popular poll with a total of 5,698 responses. The top answer with nearly 47% of the vote was, “Yes, in the next few years.” An additional… Continue reading