Feb
04
By Kelsey Ramirez
The Federal Housing Finance Agency revealed it will no longer defend its own structure, calling itself unconstitutional.
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Feb
01
The Mortgage Bankers Association this morning reported December mortgage applications for new homes fell by 13 percent from November and by 6.1 percent from a year ago.
In a separate report yesterday, the National Association of Home Builders reported its January Housing Market Index stabilized amid lower interest rates.
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Jan
30
By Patricia Kirk
The outlook for industrial real estate in 2019 is bright, with continued strength in property fundamentals, demand outpacing supply, rent growth and strong absorption squeezing already tight vacancy rates.
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Jan
28
The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers participated in bipartisan meetings with members of Congress Jan. 15, urging them to review a proposed increase to the residential appraisal threshold.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency have proposed raising the residential appraisal threshold from $250,000 to $400,000.
The Appraisal Institute is asking appraisers to voice their opposition to the proposed increase. AI created an action alert where its professionals and others can weigh in on this important matter. The action alert provides talking points that appraisers can use in their letters, and AI encourages appraisers to share their own stories and experiences when speaking against the proposal.
Use the AI action alert to make your voice heard.
If you have any questions regarding this issue, contact Bill Garber, AI’s director of government and external relations, at 202-298-6449 or by email at [email protected].
Jan
24
2019 Appraisal Institute President Stephen Wagner, MAI, SRA, AI-GRS, outlines the Appraisal Institute’s priorities for the year in the organization’s latest video.
As the Appraisal Institute continues to serve as the global valuation profession’s thought leader, the organization remains at the forefront of the most pressing issues facing appraisers today.
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Jan
18
The Appraisal Institute designated 26 members in December, including five who received their MAI designations, seven who received their SRA designations, 12 who received their AI-GRS designations and two who received their AI-RRS designations.
Click here to view.
President's Letter - Farewell
Category: Chapter News
Jan
17
Dear fellow members of NCAI:
It is with mixed emotions that I submit to you this fourth and final President’s Report. As my tenure as President comes to a close, I am excited to begin the next chapter in my life, but at the same time melancholic that my term has to end. While not without its challenges, my time on the Executive Committee was among the most rewarding experiences of my life, both personally and professionally, because of members like you. I want to extend my sincere gratitude to the North Carolina Chapter for entrusting me with the great honor and privilege to serve what I believe is by far the best Chapter in the Appraisal Institute.
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Jan
17
The Appraisal Institute on Jan. 9 announced the recognition of one individual as a "Volunteer of Distinction" for the fourth quarter.
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Jan
15
The Appraisal Institute announced Jan. 9 that it is accepting nominations for the Lifetime Achievement Award and the Outstanding Service Award, two ways AI recognizes some of its most deserving professionals. Nominations for both awards are due May 24. Awards will be presented at the Appraisal Institute's 2019 Annual Conference July 22-24 in Denver.
Click here to learn more.
Jan
14
By Michael Tucker
After several quarters of record-breaking high rents and low vacancies, the industrial real estate sector will likely "pause" soon, said JLL, Chicago. But it said that could be good news for smart owners, investors and occupiers.
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FEMA Brings Back Flood Insurance Policies During Lingering Government Shutdown
Category: Legislative
Jan
14
By Caroline Basile
The Federal Emergency Management Agency announced late Friday that it will resume selling and renewing flood insurance policies, rescinding its initial ruling that the National Flood Insurance Program cannot be renewed amid the ongoing government shutdown.
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Jan
10
The Appraisal Institute and 15 other organizations submitted a letter Dec. 21 to the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency requesting that they hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000.
Click here to read the letter.
Jan
04
Dear NCAI Member,
I hope 2018 was a great year for you, your family, and your business, and I wish you a healthy and prosperous New Year in 2019!
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Dec
31
The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve on Nov. 20 released a proposal to increase the threshold at which residential home loans require an appraisal to $400,000 from $250,000.
The rule would not apply to loans wholly or partially insured or guaranteed by, or eligible for sale to, a government agency or government-sponsored enterprise.
“The Appraisal Institute strongly objects to the FDIC’s proposal to raise residential appraisal thresholds,” said 2018 AI President James L. Murrett, MAI, SRA. “Congress just considered establishing a residential appraisal exemption and instead chose to enact a vastly different allowance involving appraisers in rural areas. This proposed rulemaking flies in the face of this action, and recreates the same type of environment that led to the housing crisis.
“By increasing the residential appraisal threshold from $250,000 to $400,000, FDIC would threaten the vital role that appraisers play in real estate transactions” said Murrett. “This action would undermine the crucial risk mitigation services that appraisers provide clients and users of appraisal services.
Murrett noted, “Raising the threshold means more evaluations will be allowed in place of appraisals. “The Appraisal Institute anticipates that will result in a return to the loan production-driven environment seen during the leadup to the financial crisis, where appraisal and risk management were thrust aside to make more – not better – loans. Apparently, the FDIC has learned nothing from that experience.
“Reducing regulations may seem to make sense initially, but the FDIC’s announcement raises significant safety and soundness concerns that the Appraisal Institute finds deeply disturbing,” Murrett said.
Dec
31
By Jessica Guerin
After months of uneven recovery following last October’s program changes, reverse mortgage volume has fallen to a low it hasn’t seen since 2004.
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Dec
31
Commercial real estate activity was modest to moderate in most Federal Reserve districts, while residential activity was reported to be mostly flat or declining — although the majority of districts reported increased home prices, according to the Fed Beige Book released Dec. 5.
Click here to view.
Dec
21
By Andrea Riquier
Commercial real estate in large urban areas will be the big winner from the tax scheme aimed at boosting investment in needy areas, according to an analysis released in November.
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Dec
20
By Kelsey Ramirez
Many economists are predicting the next recession could occur in 2020 or even 2019, but that’s not what Goldman Sachs is predicting.
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Dec
19
By Kelsey Ramirez
Buying and selling a home is about to get a lot more difficult in 2019, or so says one expert in her forecast for next year.
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Dec
17
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.
Baseline limit