Tag Archives: Dodd-Frank

January is the Month of New Beginnings, Part 2

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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

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Latest GAO Report on Residential Appraisals Published

In the September and October 2011 AppraisalPort newsletters, I discussed the first report that was released by the United States Government Accountability Office (GAO) on real estate valuation methods. To refresh your memory, as part of the Dodd-Frank Act, the GAO was asked to study the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct (HVCC), which established appraiser independence… Continue reading

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Federal Regulations and Uncertainty in the Mortgage Market

The last blog post I wrote for Collateral Vision spoke about the inordinate amount of regulation that was being forced on those in the financial industry, which was resulting in uncertainty. Uncertainty in financial markets creates a lack of confidence for virtually everyone that participates in the market. Without confidence it is almost impossible to have a vibrant economy.

The passage of Dodd-Frank is clearly the pendulum of… Continue reading

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FNC Receives Nod from U.S. Government

FNC was pleased to find itself cited throughout the U.S. Government Accountability Office’s (GAO) recent report on residential appraisals. The report, which was delivered to Congressional committees in July, responded to a mandate in the Dodd-Frank Act that directed the GAO to study the effectiveness and impact of various valuation methods and the options available for selecting appraisers, as well as the impact of the Home Valuation Code… Continue reading

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A Look at Appraisal Independence Legislation

Appraisal independence is not new, but we have seen considerable regulatory activity about it recently. Appraisal independence (on a practical level) is making sure that there is no undue influence on an appraiser that might hinder the appraiser’s independent judgment. I think most appraisers will agree that this is a good thing. The difficulty for many appraisers came with the way some of these regulations completely changed the playing field… Continue reading

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Most people loathe change. Appraisers are no different.

Most people loathe change. Appraisers are no different.

The upcoming GSE Uniform Mortgage Data Program (UMDP) is the latest in a string of rules, policies and guidelines to better regulate and analyze risk in the world of real estate lending with primary emphasis on consumer lending (1-4 unit residential properties).

In the past, the Home Valuation Code of Conduct, Dodd-Frank, Interagency Appraisal and Evaluation Guidelines and now the… Continue reading

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Unclear Regulations Leave Industry in a Funk

A week and a half ago, while working out early one morning, I heard a segment on both CNBC and Bloomberg TV where Tom Donohue, president of the U. S. Chamber of Commerce, was telling the audience that the Chamber was focused on creating jobs in the United States. In the segment with each network, he mentioned the Dodd-Frank financial reform bill that was enacted in July 2010 and the… Continue reading

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Regulation Automation

Everything FNC clients do with respect to mortgage lending in the U.S. is subject to regulation, so with rules coming from all directions, lenders have to concentrate on compliance more than ever. When a lender performs tens of thousands and even hundreds of thousands of transactions each month, automation is essential. Failure to comply with the new regulations outlined in the Dodd-Frank Wall Street Reform and Consumer Protection Act and… Continue reading

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“Skin in the Game” Rules and 11 Cities Where Home Prices Hit New Lows

“Skin in the Game” rules:

Firms who want to package loans and other assets into securities will now how have to retain 5% of the credit risk if today’s SEC draft proposal holds. According to today’s Wall Street Journal, the SEC added its draft proposal today to those of the Federal Reserve and Federal Deposit Insurance Corporation issued earlier this week. In a move that they hope will lead… Continue reading

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We Want to Hear from You!

At FNC, knowing the industry—past, present, and future—is our business. But we also know that one of the best sources of insight comes from the people in the industry. So we thought it’d be a good idea to open up the floor for feedback, ideas, questions or even a good old fashioned one-on-one challenge.

We want to hear from you. Do you have thoughts or concerns about the state of… Continue reading

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