Mar
26
Originally published on March 17, 2021, by Mike Sorohan for MBA Newslink.
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Filtered by author: Lisa Dacres Clear Filter
Originally published by John Gittelsohn on March 1, 2021 for Bloomberg.
Mar
18
MISMO announces a 30-day public comment period ending on March 26, 2021 for recent enhancements to the Commercial Appraisal Dataset. The commend period is intended to enable the public time to review and comment on recent dataset updates completed in response to feedback received during the initial comment period.
This new dataset will facilitate the efficient exchange of commercial appraisal information, critical for underwriting and loss mitigation, between multiple industry participants. The new dataset was developed from a collaborative effort of the commercial real estate and technology professionals. Following the initial comment period, the dataset was updated to include new building level data points; additions for non-multifamily property types and parties; as well as refinements to various definitions and enumerations.
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Mar
18
Originally published on March 4, 2021 by Sanziana Bana for RentCafe.com.
Vibrant Small Towns in America’s Heartland Are the Top Trending Locations for Gen Z
The downtown life in big coastal cities is so last decade. That’s according to the latest data that shows small towns in the heartland are newly trending for Gen Z renters. This is especially noteworthy because Zoomers were the fastest-growing active renter segment in the U.S. last year, and their locations of choice are just the opposite of their Millennial predecessors.
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Mar
18
Originally published on March 11, 2021 by the Federal Housing Finance Agency (FHFA)
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend temporary loan origination flexibilities until April 30, 2021. The temporary flexibilities are designed to ensure continued support for borrowers during the COVID-19 pandemic. All temporary flexibilities were set to expire on March 31, 2021.
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Mar
11
The Annual Sponsorship program was created to support and enrich our chapter while offering appraisal professionals and organizations an opportunity to participate in, and get more out of, our chapter activities and services. Thank you to Compstak and Colvin, Sutton, Winters & Associates, LLC for supporting the NC Chapter and championing the appraisal industry in North Carolina!
Compstak (Chairman level)
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Mar
11
Originally published on March 9, 2021 by Chairwoman Waters and Ranking Member McHenry.
The Appraisal Institute on March 9 sent a letter to the House Committee on Financial Services expressing its support for the Real Estate Valuation Fairness and Improvement Act of 2021. The legislation would establish an interagency task force to analyze federal collateral underwriting standards and guidance and provide resources for promoting diversity in the valuation profession.
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Welcome New NCAI Members
Category: Membership
Mar
11
We’d like to welcome our newest members who joined in early 2021!
- Richard Bryson
- David LaVigne
- Caitlin Timmons McCain
- Jay S. Navarro
- Ryan Shively
- Michael Sollitto
- Jessica Williams
Mar
11
Originally published by Michael Tucker on March 1, 2021.
U.S. commercial property prices grew again in January, sector analysts reported.
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Mar
11
U.S. mall values plunged an average 60% after appraisals in 2020, a sign of more pain to come for retail properties even as the economy emerges from pandemic-enforced lockdowns.
About $4 billion in value was erased from 118 retail-anchored properties with commercial mortgage-backed securities debt after reappraisals triggered by payment delinquencies, defaults or foreclosures, according to data compiled by Bloomberg.
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Mar
04
Originally published by Rich Miller on February 19, 2021, for Bloomberg.com.
The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.
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Mar
04
Appraisal Institute, Fannie Mae, National Urban League Award Scholarships to Strengthen Diversity in Profession
14 students receive $1,250 in scholarships for three qualifying education courses as part of the Appraiser Diversity Initiative.
CHICAGO (Feb. 18, 2021) – The Appraisal Institute in collaboration with Fannie Mae and the National Urban League today announced the first class of 2021 aspiring real estate appraisers receiving scholarships through the Appraiser Diversity Initiative. The scholarship recipients were Jamilah Abdur Rahman, Philadelphia; Angela Anderson, Portsmouth, Rhode Island; Heather Boyd, Waynesville, North Carolina; Vernon Davis, Jr, New Orleans; Devyn Gonzalez, Dallas; Akil Henderson, White Plains, Maryland; Theresa Kennedy, Atlantic City, New Jersey; Melinda Kitchens, Florence, Montana; Abby Reichner, Zephyrhills, Florida; Kristeen Reynolds, Port Arthur, Texas; Ophelia Robinson, Alexandria, Virginia; Heather Vallier, Jacksonville, Florida; Alea Walker, Columbus, Georgia; and April Zadow, Urbandale, Iowa.
“Achieving equity in homeownership and building generational wealth is challenging when the gatekeepers don’t reflect who we are or see the value in where we live,” said Marc H. Morial, president and CEO of the National Urban League. “We’re proud to help build a pipeline of diverse appraisers through our Entrepreneurship Centers that empower Black homeowners and communities.”
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Mar
04
Originally published by Kate Duguid for Reuters.com on February 22, 2021.
Rising sea levels and extreme weather could cause $20 billion of flood damage to at-risk U.S. homes this year, rising to $32 billion by 2051, according to research from New York-based flood research non-profit First Street Foundation published on Monday.
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FHFA Extends COVID-19 Forbearance Deadline, Foreclosure, REO Eviction Moratoriums
Category: Legislative
Mar
04
Originally published by the Federal Housing Finance Agency (FHFA) on February 25, 2021.
The Federal Housing Finance Agency announced on February 25 that it is extending until June 30 the moratoriums on single-family foreclosures and real estate-owned evictions due to the ongoing coronavirus pandemic. The agency also announced that borrowers with a mortgage backed by Fannie Mae or Freddie Mac can apply for another three-month extension of COVID-19 forbearance.
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Mar
04
Originally published by Michael Tucker on February 23, 2021, for Newslink.com
The office market has seen less deterioration during the pandemic recession than it did during the Great Recession, but it’s not out of the woods yet, reported Moody’s Analytics REIS, New York.
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Mar
04
Originally published on February 18, 2021, for the National Association of Home Builders.
Housing production softened in January as rising lumber prices continue to affect the housing industry. Overall housing starts decreased 6.0% to a seasonally adjusted annual rate of 1.58 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Federal Reserve Test Envisions ‘Substantial Stress’ in CRE and Corporate Debt Markets
Category: Legislative
Mar
04
Originally published by Pete Schroeder on February 12, 2021 for Reuters.com.
WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday unveiled the hypothetical recession it plans to test large banks against in its 2021 stress tests, which includes “substantial stress” in the commercial real estate and corporate debt markets.
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Mar
04
Media Contact:
Amy Timmerman
(202) 624-3048
BREAKING: 2020-21 USPAP Extended for One Year
(Washington, DC) February 19, 2021 – The Appraisal Foundation’s Appraisal Standards Board (ASB) announced today that the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) will be extended by one year. The 2020-2021 USPAP will now be effective until December 31, 2022.
“USPAP has been a living document since its adoption in 1987. Initially, changes were being adopted so frequently, they were simply being added as inserts into a large binder. As time has progressed the updating cycle lengthened to one year and now two years. Like every profession, COVID-19 has had an unprecedented impact on the appraisal profession and how we conduct day-to-day business. Pressing issues have arisen in our profession over the past year ranging widely from concerns about fair housing matters to how to conduct a socially distanced property inspection. USPAP is a maturing document, and it can take longer to study the complex issues facing our profession and how they will impact our standards. We believe all of these are all critical issues and deserve thoughtful consideration before we issue guidance,” said ASB Chair Wayne Miller.
“With that in mind, we have decided to extend the effective date of the current USPAP by one year. This will provide continuity to the profession during this pandemic while also giving the ASB the appropriate time to carefully examine the challenges facing our profession before offering additional guidance.”
To learn more about this announcement, please visit The Appraisal Foundation website, appraisalfoundation.org, or click here to read our Frequently Asked Questions, including how this decision impacts continuing education courses.
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Mar
04
Originally published by Fannie Mae on February 18, 2021.
Fiscal Stimulus, Successful Vaccine Deployment Likely to Boost Growth but Also Pose Inflationary Risk
WASHINGTON, DC – The U.S. economy is expected to grow 6.7 percent in 2021, an improvement not only from last year’s 2.5 percent contraction but up, too, compared to last month’s forecast of 5.3 percent, according to the February 2021 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. The latest forecast upgrade of full-year 2021 real GDP growth reflects greater-than-expected consumer spending in the winter months, slowing COVID-19 case rates and hospitalizations, and the likelihood of an impending fiscal stimulus package. However, the ESR Group notes that some of the expected growth quickenings stem from a pull-forward of growth that was previously expected to take place in 2022; subsequently, its forecast of full-year growth in 2022 decreased 0.8 percentage points this month to 2.8 percent. The ESR Group’s updated forecast also highlights greater uncertainty and downside risks, including stronger inflation and higher interest rates, as well as potentially weaker growth if COVID-related restrictions persist beyond the spring.