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.
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.
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
The Appraisal Institute and the Land Trust Alliance co-signed a letter Nov. 29 urging congressional leaders to advance the Charitable Conservation Easement Program Integrity Act, which would help maintain the integrity of conservation easement donations by closing an apparent loophole related to abusive syndicated tax shelters.
As you're aware by now, AI joined 17 other groups to submit public comments opposing NCUA's proposal to quadruple – from $250,000 to $1 million – the appraisal threshold for non-residential real estate loans. Our own state chapter (NCAI) has submitted public comments as well. Click the button below to read them.
By Liam Quinn
Missouri Gov. Mike Parson on Oct. 18 appointed Randy Bryson, SRA, AI-RRS, to the state's Real Estate Appraisers Commission. Bryson is president of Associated Property Analysts in Columbia and has been an appraiser since 1980.
By Michael Tucker
The North American Free Trade Agreement's likely replacement, the United States-Mexico-Canada Agreement, should increase U.S. commercial property market demand by decreasing uncertainty about trade, said CBRE, Los Angeles.
The Federal Housing Finance Agency extended the public comment period for the Agency's proposed rule on Enterprise Capital Requirements by an additional 60 days, citing "high level of interest in the proposed rule and requests from multiple stakeholders for more time to evaluate it."
The previous deadline for comments was September 17; the new deadline is November 16.
President Trump on July 31 signed legislation that extends the National Flood Insurance Program by four months — until Nov. 30, the White House reported. The extension gives lawmakers a small window to craft a longer-term extension for the program, which is underfunded by about $20 billion.
The Appraisal Institute today announced its opposition to proposed federal legislation that would reduce the requirements for appraisals in major Small Business Administration loan programs.
The Appraisal Institute objects to the provisions of H.R. 6347, the 7(a) Real Estate Appraisal Harmonization Act, and H.R. 6348, the Small Business Access to Capital and Efficiency Act, both of which would adjust upward the real estate appraisal thresholds for SBA loan programs. An appraisal threshold is the amount of a real estate transaction above which an appraisal is required.
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today released a guide to complete and use the organization’s “Residential Green and Energy Efficient Addendum.”
This guide helps appraisers, real estate agents, energy and green raters, lenders, builders, the secondary mortgage market and sustainability organizations understand how each section of the addendum applies to valuation and marketing of the property.
