Last week we shared with you Maxine Waters and Sherrod Brown sent an inquiry to the Appraisal Subcommittee inquiring on the parameters used to determine the North Dakota Appraiser Waiver approval. We encouraged each of you to take advantage of the attention on our profession and contact your representatives.. VaCAP has sent letters to both… Read More »
Late Friday afternoon, VaCAP learned the Financial Services Committee Chairwomen. Maxine Waters and Senator Sherrod Brown, Ranking Member of the Senate Committee on Banking Housing and Urban Affairs, sent a letter to the Appraisal Subcommittee Chairman Arthur Lindo inquiring around the circumstances of the North Dakota Appraisal Waiver that was granted a few months back.… Read More »
Congresswomen Maxine Waters and Senator Sherrod Brown are questioning the Appraisal Waiver granted to North Dakota. See the Press Release below and the entire letter sent here. For Immediate Release September 27, 2019 Waters and Brown Call on Appraisal Subcommittee to Provide Answers on Unprecedented Appraisal Waiver WASHINGTON, D.C. – Congresswoman Maxine Waters (D-CA), Chairwoman… Read More »
According to a CNN Business article this morning, The New York Federal Reserve spent $53 billion to rescue the overnight lending market. This happened once before… in 2008. “It’s unprecedented, at least in the post-crisis era,” said Mark Cabana, rates strategist at Bank of America Merrill Lynch. On Tuesday morning the New York Federal Reserve… Read More »
Got a low credit score and can’t get a loan? Don’t fret over it, just subscribe to a magazine. Sounds absurd doesn’t it? According an article on MSN, banks are using other means to determine your credit worthiness. We all understand alternative credit, such as phone and power bills, but companies are now considering consumer… Read More »
Well, the insanity continues. HousingWire is reporting that a coalition of lenders and trade groups are calling on the CFPB to eliminate the debt to income cap on all Qualified Mortgages. Yes, you read that right. lenders want to eliminate the debt to income cap to allow more loans to be originated. They claim by… Read More »
Are the profits being reported by Fannie and Freddie being skewed because of price fixing? In an article released on CNBC by Reuters, US District Judge Jed Rakoff ruled investors can pursue antitrust claims against banks for conspiring to fix prices of bonds from Fannie Mae and Freddie Mac. According to the article, there are… Read More »
” Can you hear that? Do your hear the rumble? It’s a train going 80 mph toward a 25 mph curve” There is an excellent article by Richard Hagar,SRA that hit everyone’s email this morning from Working RE Magazine. The title of the article is Why “Bifurcation” Won’t Work. This is an excellent read and… Read More »
This is a CALL TO ACTION . Please listen to Phil Crawford’s Voice of Appraisal Show released this morning. He has put out a call to action to every appraiser to write a letter of recommendation for VaCAP President Pat Turner to be appointed to the Appraisal Standards Board. Send your emails /letters of recommendations… Read More »
Appraisal Buzz published an article written by Joshua Walit on July 31, 2019 titled Nothing New Under the Sun: The Varied Face of Appraisal. The article brings up some good points, however; it does not take into account the reality of the market and the control of the lenders and appraisal management companies in the… Read More »