Tuesday , 18 December 2018

Housing Wire

Housing Wire

OCC seeks public comment on raising appraisal exemption threshold

The three federal banking agencies announced they are seeking public comment on a recent proposal to raise the threshold for residential real estate transactions that require an appraisal. All three agencies have approved the proposal and comments will be accepted until 60 days after publication in the Federal Register. Via:: OCC seeks public comment on raising appraisal exemption threshold       

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2018 HW Vanguard: John Frass

Since John Fraas took the helm of Class Valuation as president just over a year ago, the company has seen tremendous growth all while maintaining a positive work environment. Via:: 2018 HW Vanguard: John Frass       

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FHA automates reverse mortgage second-appraisal process

By jguerin@housingwire.com The FHA fully automated the second-appraisal process for HECM lenders on Friday, a move it had promised would come by December 1st. Now, lenders will receive an immediate, automatic response on whether or not a second appraisal will be required before the loan can proceed, curbing some concerns about how much time a second appraisal would add to …

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Former head of FHA and MBA David Stevens blasts reverse mortgages

By jguerin@housingwire.com David Stevens isn’t a fan of reverse mortgages, and he’s not afraid to say it. The former FHA commissioner and recently retired president and CEO of the MBA posted a comment about HECMs on LinkedIn that got people talking. “Brian Montgomery is trying to fix the abuse,” he said, “but the product is the one that kept me …

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Brian Coester claims "We are not out of business," as AMC runs into financial difficulty

By jgaffney@housingwire.com The Maryland law firm of Shapiro Sher Guinot & Sandler PA sent a letter November 14th to the appraiser clients of one of the nation’s largest appraisal management companies, CoesterVMS. This letter marked the beginning of tough times ahead for owner Brian Coester. Via:: Brian Coester claims “We are not out of business,” as AMC runs into financial …

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FHFA: Home prices are slowly increasing

Home prices moderately increased in the third quarter of 2018, rising only 1.3% month-over-month but still up 6.3% from the same quarter last year. Supervisory Economist William Doerner said rising mortgage rates have cooled down housing markets. Via:: FHFA: Home prices are slowly increasing       

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