“The Federal Housing Finance Agency (FHFA) today released the FHFA Strategic Plan: Fiscal Years 2021-2024, which reflects the Agency’s priorities as regulator of the Federal Home Loan Banks (FHLBanks) and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises). FHFA requested input on the draft Agency strategic plan from Members of Congress, the… Read More »
Within the past 48 hours, the appraisal community has been hit with so much information, we wanted to make sure each of you are aware of what is going on so. The Other Side of Racism Appraisers Blogs published an article yesterday that every appraiser needs to read, share and distribute on all social media… Read More »
Appraisers have some very strong opinions on computer driven appraisals. Others are noticing the dangers as well. It is more than just automated valuation models though. In an article written by Danielle DiMartino Booth, for Bloomberg , Fannie Mae and Freddie Mac are specifically called out on their appraisal waivers. The author compares the dangers… Read More »
Membership to VaCAP remains at $84 per year. We represent Virginia appraisers as one of the leading coalitions within the Network of State Appraisal Organizations, currently 31 members strong. We are members of the Appraisal Foundation Advisory Council, attend meetings of the Association of Appraiser Regulatory Officials and attend State Appraisal Board Meetings. We initiate… Read More »
Thank you to the many who have already renewed their VaCAP membership. For those of you who have not renewed, (you know who you are) please do so now. Our membership renewal process is the same as it has been for the past several years. It has worked well for us and is both cost… Read More »
The Consumer Financial Protection Bureau is seeking public comments on the proposed rules for a Qualified Mortgage. The proposed rules require the lender to season the mortgage for 36 months before they can sell it to Fannie or Freddie. What that means is the lender will own that loan for 3 years. Fast forward if… Read More »
Thank you to those who contacted us about an issue renewing your VaCAP membership on line. The link for payment is now functioning correctly. We ask those who had trouble, please try again. https://vacaponline.com/how-to-join/. If you have not renewed your VaCAP membership, please do so now,. We have a lot of exciting changes in our… Read More »
This is a call to action! Comments on the proposed changes to the 2022-23 USPAP are needed The proposed changes to the reporting requirement of Standard 2 may impact the profession negatively and confuse the public on who we are and what we do. We ask that each and every one of you pause for… Read More »
VaCAP has just learned of a meeting on July 22 to discuss and vote on proposed changes to the square footage calculation under ANSI guidelines. The proposed changes were published for public comment which closed in March. The meeting, which is described as a virtual Consensus Committee Meeting is open to the public, however you… Read More »
Those fine outstanding law abiding people at Wells Fargo are at it again! This time the fraud is against the United States Bankruptcy Court and as usual, their very own customers. Wells Fargo’s explanation……. The Covid-19 Pandemic! Wells Fargo is using the Covid-19 virus as the excuse for placing borrowers currently under Chapter 13 bankruptcy… Read More »