FHFA Directs Enterprises to Grant Flexibilities for Appraisal and Employment Verifications

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. 

PSI Letter RE: COVID-19

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. 

TAF-AARO-ASC Guidance

A joint message between TAF, AARO, and the ASC regarding COVID-19.

USPAP Q&A

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.  

FFIEC Adopts Grant Handbook

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. 

Appraisal Foundation Offers Coronavirus (COVID-19) Information for Appraisers

The Appraisal Foundation has created a dedicated Coronavirus page, so commonly asked questions and concerns can be addressed.   The page can be found here.

Spring 2020 Conference and Training Sessions Cancelled

AARO Cancels Spring 2020 Conference along with RTC and CSI Level II Courses. 

Waters and Clay Request GAO Study to Protect Homeowners from Appraisal Loopholes

The U.S. House Committee on Financial Services, "sent a letter to the Comptroller General of the U.S. Government Accountability Office (GAO), requesting a comprehensive study on the implementation of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by the relevant federal agencies." 

AQB Board Meeting Today

The AQB is livestreaming their Board Meeting today to discuss the current status of the Practical Applications of Real Estate Appraisal concept and they will also listen to comments about the proposed changes to the Real Estate Property Appraiser Qualifications Criteria.  Register for the event here:

https://zoom.us/webinar/register/WN_EJmrJQlHQQugCdJYRD0Icw

AARO Announces the Tentative Agenda for the Spring 2020 Conference in San Antonio, Texas

The Spring 2020 AARO Conference (Tentative) Agenda is available for review. General Session Topics include:

• ASC / TAF Updates
• A Deeper Dive into Enforcement Issues that Jurisdictions Routinely Handle / Coordinating Complaints across Multiple Jurisdictions
• Explanation, Preview, and Feedback on Grant Initiatives
• Grant Workshop - How to Apply for and Manage Federal Funds
• Fannie Mae's Referral Process to State Boards
• How are Jurisdictions Auditing AMCs / ASC's Compliance Review of a Jurisdiction's AMC Program