Appraisals

The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.

During a hearing on racial bias in home valuation, the head of the Consumer Financial Protection Bureau questions the Appraisal Foundation's "weird" regulatory structure.

The actions involved are based on findings by an interagency task force first convened last year by Marcia Fudge, secretary of the Department of Housing and Urban Development.

After permitting remote appraisals on an interim basis during the pandemic, Fannie Mae and Freddie Mac will accept them outright starting in early 2022, the acting head of the Federal Housing Finance Agency said.

It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess.

The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.

The National Credit Union Administration this week will consider an interim final rule regarding its Central Liquidity Facility and changes to real estate appraisal requirements.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.