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US Farmland Value Increases Average of $60 Per Acre: USDA
8/14/2019 7:30 AM
The average value of U.S. farm real estate is $3,160 per acre, up from $3,100 per acre in 2018, according to the U.S. Agriculture Department’s 2019 Land Values Summary released Aug. 6, Ag Professional reported. The per-acre average for cropland also increased, while the per-acre average for pasturel [......Read More
 
GSE Reform Mostly Complete, Former Freddie Mac CEO Says
8/14/2019 7:30 AM
The government-sponsored enterprises have almost been restored to a condition where they can be privatized without legislative input from Congress, according to the paper “GSE Reform: None or Mostly Done?”, authored by Donald Layton and released Aug. 7 by the Joint Center for Housing Studies at Harv [......Read More
 
Multifamily Sector Going Strong, Expected to Continue Through 2020: Freddie Mac
8/14/2019 7:30 AM
The multifamily market has performed above average during the first half of the year, with especially strong performance during the second quarter, which is expected to continue through 2020, Freddie Mac reported Aug. 8 in its Multifamily Midyear Outlook. Low interest rates are expected to increase [......Read More
 
Court Grants Stay of Motion in FTC Case Against LREAB
8/7/2019 7:30 AM
A Louisiana court on July 29 granted a motion to stay in the Federal Trade Commission’s case against the Louisiana Real Estate Appraisers Board in which it alleged the LREAB illegally determined a floor for appraiser prices. The court ruled that, among other things, continuing the case would hamper [......Read More
 
ASB Mulls Evaluations Standards; Paper Expected Soon
8/7/2019 7:30 AM
The Appraisal Standards Board of The Appraisal Foundation on Aug. 1 announced its intention to explore the creation of uniform standards for evaluations. The ASB said that since no standards exist for conducting evaluations, there is greater risk to the safety and soundness of real estate transactio [......Read More
 
FASB Proposes to Delay, Stagger Lease Accounting Standards Dates: Advisory Firm
8/7/2019 7:30 AM
The Financial Accounting Standards Board voted Aug. 1 to tentatively stagger effective dates for major accounting standards and to defer new standards on lease accounting and credit losses, advisory firm CohnReznick reported. The effective date of the new standard has tentatively been deferred to pe [......Read More
 
HUD Halts Rule Change for FHA Down Payment Assistance
7/31/2019 7:30 AM
The U.S. Department of Housing and Urban Development on July 23 suspended “until further notice” a rule change made in April that affects its down payment assistance guidelines for Federal Housing Administration loans, HousingWire reported. A federal judge in Utah had ordered the suspension pending [......Read More
 
Jody Bishop Elected 2020 Appraisal Institute Vice President by AI Board of Directors
7/31/2019 7:30 AM
Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, was elected 2020 vice president of the Appraisal Institute July 25 by the AI Board of Directors at its meeting in Denver. Bishop’s one-year term will begin Jan. 1, followed by one year each as president-elect, preside [......Read More
 
Court Orders California to Spend $330 Million Settlement Exclusively on Homeowners
7/31/2019 7:30 AM
The California Supreme Court on July 18 ruled that the state must spend the $330 million it received in 2012 as part of a nationwide settlement with lenders over unfair mortgage practices exclusively on homeowners, the Sacramento Bee reported. Gov. Gavin Newsom’s administration sought to continue us [......Read More
 
AI Condemns NCUA Action Quadrupling Appraisal Threshold
7/24/2019 6:53 AM
The Appraisal Institute on July 18 condemned as irresponsible and dangerous the National Credit Union Administration’s decision to increase the appraisal threshold for nonresidential real estate loans from $250,000 to $1 million, effectively reducing the number of appraisals required for commercial [......Read More