Industry News Blog


The average 30-year fixed mortage rate fell to 4.27%; the lowest it's been in decades.  These are some tempting rates but tighter credit coupled with sky-high unemployment have left would-be homeowners to just window shop.  According to one Associated Press article at CBS News, historically, low rates have not been a solution for previous mortgage slumps.

Go here to read more about today's...


Have you seen the latest updates on Appraisal Institute's (AI) blog?  There is a lot going on in the news right now.  But in the forefront is the following:


The Appraisal Institute is overhauling its mission statement and adopting a new business model that is designed to create more value for its members.  AI said it will transform its professional association business model to a professional society business model, allowing the 'best opportunity for the long-term growth and success of the profession by providing true differentiation in the marketplace; a focus on Designated members...


Fannie Mae Fannie Mae says it is working with the Federal Housing Finance Agency (FHFA) to develop and adopt appraiser independence requirements that will replace the Home Valuation Code of Conduct (HVCC). The agency's are developing revised requirements that are expected to be put into place by Oct. 21, 2010. 

Fannie said it is committed to supporting stron appraiser independence requirements but will retain the intent of HVCC while also protecting mortgage investors, home...


There has been a lot of discussion lately about the efficacy of Fannie and Freddie's efforts.  Is it really worth the cost to taxpayers, in the end, to guarantee mortgages?  Has this nation given GSEs too much freedom and a sense of security, so much so that they overextended their reach and caused the mortgage meltdown?  Who is really benefiting from government-backed mortgages?  It doesn't appear that it's the homeowners.


Kenneth Donohue is leaving the U.S. Department of Housing and Urban Development as it's IG to pursue a career in the private sector, according to a press release from HUD.  Donohue is credited with addressing Congress regarding the possibility of a subprime mortgage meltdown debacle 18 months before it occurred.  Maybe Congress should have heeded his warning.  What do you think?

Read HUD's press release...


More pressure is being put on mortgage lenders to give the best deal possible.  A new rule proposed by the Feds would allow consumers a refund of any appraisal or credit report fees charged if they cancel their mortgage application within three days of receiving their disclosures.  The rule is open to comment.

What do you think?

Here's the story.

Are Realtors bypassing appraisal independence requirements by coaching the buyer & seller to require a "local appraiser" in the P/A (same town as subject)?
Here’s what AIMSdashboard President Chris Williams had to say.

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) is finally bringing its new rules current.  Mortgage loan originators are required to be fingerprinted and be listed on a central registry. 

The SAFE Act, which was initiated by the Fed, Comptroller of the Currency, Federal Deposit Insurance Corp, Office of Thrift Supervision, Farm Credit Administration and National Credit Union Administration, specifies that mortgage brokers must register with...


A new report Home Insecurity: How Widespread Appraisal Fraud Puts Homeowners at Risk points out that an all-time high debt-to-income ratio for mortgage holders has been hit.  The Demos report written by David Callahan, takes a look at the precarious market built on shaky ground.

Read the story here or check out the report here.