article thumbnail

FHFA will host second public forum on appraisal bias

Housing Wire

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) in May for its second public hearing on appraisal bias. At the first ASC hearing in January, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra took aim at the dysfunctional regulatory system that governs the appraisal industry. “I

Appraisal 354
article thumbnail

Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2021. “We

Lending 539
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FHFA extends relaxed appraisal, lending standards

Housing Wire

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on Jan.

Lending 539
article thumbnail

FHFA extends relaxed appraisal, lending standards

Housing Wire

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

Lending 477
article thumbnail

Jim Amorin steps down as CEO of Appraisal Institute

Housing Wire

Jim Amorin, the CEO of the Appraisal Institute , on Thursday announced his resignation from the appraisal trade group. In a statement, the Appraisal Institute said Amorin’s five-year term will end effective Feb. The racial gap itself in appraised values increased by 75% during that period. as Hispanic.

Appraisal 315
article thumbnail

White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

Appraisal 341
article thumbnail

Historical Properties and Their Unique Appraisal Approaches

Boston Appraisal

Introduction Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. Leveraging Market Data The appraisal process begins with a thorough analysis of market data, focusing on sales of properties that share historical or antique characteristics.

Appraisal 147