Big Trouble Brewing at the FHA
Housing is at the center of the economy. The Federal Housing Administration is at the center of housing. And there's a danger that it could require a historic bailout next year.
There has been a lot of buzz about the recent survey from Texas.
interview with Charles Gilliland
The Association of Appraisal Regulatory Officials' Fall Conference was held at the Westin City Center in Washington, D.C. from October 13-16, 2012. AARO is a vitally important stakeholder in the appraisal profession as it brings together regulators from thirty state boards to share information, compare notes and propose remedies for the most pressing issues.
Did you know that you can view the latest issues of the FHA Watch by Ed Pinto right from our home page www.appraisalbuzz.com. Just click the red FHA WATCH button on the left hand side.This will connect you to the most recent issue.
Last week, the Collateral Risk Network (CRN) and the American Enterprise Institute (AEI) joined forces to discuss "Reengineering the Appraisal, a Return to Fundamentals". The meeting was held in Washington, DC and was very well attended by economists, government agencies, international valuation professionals, congressional staff, the Appraisal Foundation, several national lenders, AEI scholars and CRN Members.
The Appraisal Buzz takes a look at an exerpt from this month's FHA Watch CLICK HERE to read the full article.
FHA's Financial Condition Worsens; Denial Dial Reset to Lowest Level Ever
One in six Federal Housing Administration (FHA) loans were delinquent in June as the total delinquency rate increased to 16.61 percent. This was due almost entirely to a jump in thirty- and sixty-day delinquencies. The serious delinquency rate ticked up to 9.48 percent.
If you are an appraiser and an unregistered AMC calls with an assignment, what are you required to do under the law? What is the lender's responsibility in vetting the state licensing of their appraisal provider? How will the state regulators keep up with registrations and complaints?
The Appraisal Buzz takes a look at the June issue of the FHA Watch and we highlight some of the most intriguing articles. To view the whole issue yourself click HERE for a PDF version. In this month's edition Ed Pinto talks about the FHA responsibility for underwater loans and puts a spotlight on the FHA's current insolvency
FHA Is Responsible for 1.5 Million New Underwater Loans
Government-Controlled Home Mortgage and Student Loan Asset Classes Account for 86 Percent of Outstanding Consumer Debt
