Change is happening. In case you missed some of the hot topics being discussed this month, we have put together a quick list of comment deadlines and reports that have been released. Don’t miss out on your opportunities to provide critically needed feedback to continue the development of industry policies.
Provide input to the proposed changes to appraiser requirements
Thursday, August 25, 2016, at 1pm, the AQB is hosting an online briefing to provide an update on proposed changes to the Real Property Appraiser Qualification Criteria (Criteria). This online briefing is open to the public and is free of charge. Participants will have the opportunity to submit written questions to the AQB. You must register for the briefing, as space is limited. The comment deadline for the exposure draft of proposed changes was July 31, 2016. This draft is available for download HERE. The AQB intends to issue a second exposure draft no later than early September 2016.
If you have already registered, please do not register again.
Proposed changes for the 2018-2019 edition of USPAP
The Appraisal Standards Board has issued the Second Exposure Draft of proposed changes for the 2018-19 edition of the Uniform Standards of Professional Appraisal Practice. The draft does include an Executive Summary for a quick look at the issues under consideration. To view the draft, click here or visit The Appraisal Foundation’s website. Written comments are requested by October 14, 2016, you can send comments to ASBComments@appraisalfoundation.org
FHFA announces results of Fannie Mae and Freddie Mac Dodd-Frank Act Stress Tests
On August 8th, 2016 FHFA released a report providing the results of annual stress tests which Fannie Mae and Freddie Mac are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act requires certain financial institutions with more than $10 billion in assets to conduct annual stress tests to determine whether they can absorb losses as a result of adverse economic conditions. To view the results, click here.
TRID public comments begin
The proposed updates to the CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule were published in the Federal Register on Monday. The comment period on the proposal runs through October 18, 2016. To view the proposed changes, click here. According to the CFPB, parties can submit comments any of the following ways:
- By email: FederalRegisterComments@cfpb.gov.
Include Docket No. CFPB-2016-0038 or RIN 3170-AA61 in the subject line of the email.
- Electronically: http://www.regulations.gov. Follow the instructions for submitting comments.
- By mail: Monica Jackson, Office of the Executive Secretary, Consumer Financial Protection Bureau, 1700 G Street NW., Washington, D.C. 20552.
New single-family home size declining
In an article by the National Association of Home Builders, new single-family home size declined during the second quarter of 2016. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. NAHB states, “As the entry-level expands, including growth for townhouses, typical new home size is expected to trend lower.” To read the full article, click here.
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