High-LTV Guidance Issued for Banks
The nation's primary regulator of national banks has clarified lending practices for financial institutions that make residential loans with high loan-to-value ratios in struggling areas.
Fannie to Allow Some Appraisal-Less Transactions
Like its secondary cousin, the Federal National Mortgage Association will begin allowing some home-purchase financing loans without appraisals.
Tool to Eliminate Appraisals on Some Freddie Loans
A new automated tool from the Federal Home Loan Mortgage Corp. will enable some home buyers to avoid the time and expense of a full appraisal report.
Home Price Indices Continue Escalating
Multiple monthly home price indices continued climbing to higher elevations, with the West dominating the rise. At least one index reached another all-time high.
South Leads Drop in Existing Home Sales
Although the number of residential properties sold last month was the highest in years, the annual rate was still lower. The South had the biggest impact on national sales.
Quicken Loans Loses Class Action Appraisal Lawsuit
Quicken Loans Inc. has lost a class action in which it was accused of suggesting values to appraisals. But the mortgage giant expects to be vindicated on appeal.
VA Extends Appraisal Requirements by 2 Years
Previously issued appraisal requirements for single-family loans that are guaranteed by the Department of Veterans Affairs have been extended by two years.
Appraisal News Daily
The federal government has weighed in on one state's proposal to fix appraisal fees paid by appraisal management companies. Other valuation services activity include a new consumer valuation tool, an appraisal webinar and an integration between two service providers.
5 Highest Appreciating Home Markets Include 3 Ds
Although two cities located in the Northwest consistently top the list of areas with the fastest-rising home values, a trio of D-cities recently rounded out the top five.
Record Prices, Market Time as Existing Home Sales Up
Monthly sales of pre-owned residential properties rose. Record prices are being paid for existing homes as properties fly off the market. Time on market was a record low.