The Appraisal Foundation’s Appraiser Qualifications Board (AQB) recently issued its 2nd exposure draft of proposed changes for its Supervisory Qualifications, which are included within its Real Property Appraiser Qualification Criteria.
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The Appraisal Foundation’s Appraiser Qualifications Board (AQB) recently issued its 2nd exposure draft of proposed changes for its Supervisory Qualifications, which are included within its Real Property Appraiser Qualification Criteria.
Read MoreTopics: Appraisers, Compliance, Regulations
“The Homebuyer Assistance Act of 2019”, which is designed to address the current shortage of certified appraisers (particularly for FHA mortgages), was recently passed in the U.S. House by a vote of 419-5 and has been sent to the Senate for consideration.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, residential mortgage industry, Regulations
Earlier this summer, the U.S. House of Representatives was introduced to the Appraisal Reform Act of 2019 (or HR 3619), which if passed would amend TRID by requiring the appraisal management fee to be disclosed separately from the appraisal fee on both the Loan Estimate and Closing Disclosure.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, Regulations, Dodd-Frank Act, proposals
The eTrac® Data Store was recently equipped with two Quality Control (QC) products from Collateral Analytics™—known as Complexity Profiler™ and Complexity Profiler Plus™—which are designed to assist lenders with TRID compliance by providing an efficient and cost-effective way to identify complex properties.
Read MoreTopics: Lenders, appraisal technology, eTrac Enterprise Solutions, AMCs, Mortgage Companies, Compliance, Regulations, Appraisal Process Management, Credit Union
Within its latest Q3 Washington Report, the Appraisal Institute noted that both Massachusetts and Washington, DC have enacted AMC legislation to bring their laws into compliance with federal requirements.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, Regulations, Dodd-Frank Act
Earlier this month, The Appraisal Foundation announced that its Appraisal Standards Board (ASB) intends to examine the concept of creating standards for evaluations – a common alternative to an appraisal that’s used by financial institutions for applicable transactions.
Read MoreTopics: Lenders, appraisal technology, Appraisers, AMCs, Compliance, Regulations, USPAP
A new bill—known as the “Blue Water Navy Vietnam Veterans Act” (H.R. 299)—was recently signed into law by President Trump and will soon allow the Department of Veteran Affairs (VA) to back loans that exceed the conforming loan limit.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
“The Homebuyer Assistance Act of 2019”, which is designed to address the current shortage of certified appraisers (particularly for FHA mortgages), was recently advanced by the House Financial Services Committee.
Read MoreTopics: Lenders, AMCs, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, proposals, Credit Union
The Federal Housing Administration (FHA) recently announced that it is delaying the implementation of an impending rule that would have required digital signatures on appraisals when uploaded to its Electronic Appraisal Delivery System (EAD).
Read MoreTopics: Lenders, appraisal technology, AMCs, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, Credit Union
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