IN THE NEWS

FHFA Directs Enterprises to Grant Flexibilities for Appraisal

03/23/20

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.​  To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges of the coronavirus, the Enterprises will leverage appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.  Now the ball is in Fannie and Freddie's court.  Let's hope they move quickly to get our people out of hou...More

FHFA Directs Enterprises to Grant Flexibilities for Appraisal

03/23/20

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. To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges of the coronavirus, the Enterprises will leverage appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.  Now the ball is in Fannie and Freddie's court.  Let's hope they move quickly to get our people out of houses!!! Click on t...More

New CE Deadline for Illinois Real Estate Appraisers

01/15/20

The new rule making changes the Illinois Appraisal CE deadline back to September 30 of each odd-numbered year. The adopted rulemaking represents a re-alignment of renewal dates and continuing education completion dates for licenses real estate appraisers (September 30 of each odd-numbered year). Historically, these dates have been coterminous; however, a recent amendment to the rules effectively bifurcated those dates and resulted in confusion on the part of licensed real estate appraisers....More

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