Read about recent events, essential information and the latest community news from AARO.
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Peter Fontana and Jonathan Miller sent a letter to Congresswoman Maxine Waters and Senator Sherrod Brown on Tuesday, March 24, 2020 urging appraisers and their work to be classified as an essential business.
You can read the full letter here.
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From The Appraisal Foundation: FDIC has compiled a list of FAQs, which answers questions about inspections (Answer # 12) and Appraisals (Answer # 13).
You can access the FAQs here.
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Freddie Mac issued selling guidance related to COVID-19 on March 23, 2020. The bulltein, found here, covers:
and also provides reminders regarding:
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Fannie Mae issued a lender letter (LL-2020-04) to all Fannie Mae single-family sellers regarding the impact of COVID-19 on appraisals under the guidance of the FHFA. Read the full letter here.
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Today, to facilitate liquidity in the mortgage market during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac (the Enterprises) to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements through May 17, 2020.
The full article can be found here.
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PSI has cloased its closed its owned and operated test centers. During this time, candidates can reschedule their exams with no penalty or documentation required. Click here to read the full letter.
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A joint message between TAF, AARO, and the ASC regarding COVID-19.
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On March 17, 2020, The Appraisal Foundation issued a Q&A regarding interior inspections and compliance with USPAP. The Q&A can be found here.
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The Regulatory Bulletin's Vol. 30, Issue 3 released on March 15, 2020, included an article on the ASC's adoption of the Grants Handbook.
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The Appraisal Foundation has created a dedicated Coronavirus page, so commonly asked questions and concerns can be addressed. The page can be found here.
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