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What’s the difference between these free email newsletters and the Paid Appraisal Today newsletter?
These free newsletters, started in 1994, are a digest of news articles online plus my comments. I spend about a day working on them. I try to keep them relatively short. I take ads for these newsletters so I get paid for my time.
In contrast, my paid newsletters (12-17 pages), started in 1992, have much longer articles. Also, I have never had ads. All advertising supported publications sometimes have conflicts between advertisers and articles. I chose to avoid this conflict.
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$8.25 per month, $24.75 per quarter, $89 per year (Best Buy)
or $99 per year or $169 for two years
Subscribers get, FREE: past 18+ months of past newsletters
plus 4 Special Reports, plus 2 Appraiser Marketing Books!!
To purchase the paid Appraisal Today newsletter go to
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If you are a paid subscriber and did not get the July 2017 issue, emailed July 3, 2017, please send an email to info@appraisaltoday.com and we will send it to you!! Or, hit the reply button. Be sure to put in a comment requesting it.
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The Toughest Places to Build – not what you expected!!
Excerpt: One might think that places which are slower to permit construction or reject a greater share of plans are tougher to build in than others, but the opposite is often true. The toughest places to build tend to see few, if any, proposals for new construction because developers know to conserve their energy by pursuing more feasible alternatives. For example, if expensive Silicon Valley suburbs like Palo Alto were to sprout glass condo towers in the midst of single-family homes, they would sell out in no time. However, the fact that no developer wastes their time proposing such a project doesn’t mean it would be easy for a developer to swoop in to build it. On the contrary.
A better way to gauge the toughest places to build is to ask “where does an increasing willingness to pay for housing fail to result in more housing being built?”
My comment: Fascinating!! Great graphics!
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FTC forcefully rejects Louisiana’s request to pause regulatory action over appraisal fees. Claims state’s recent actions to repeal appraisal law do nothing to change past
Excerpt: The LREAB (Louisiana State Real Estate Appraiser Board) previously asked the FTC to stay the proceedings after Louisiana Gov. John Bel Edwards issued an executive order and the LREAB issued a resolution that that will lead to the law that dictated how AMCs pay appraisers being repealed.
But in its response to the LREAB’s request, the FTC said that any changes to Louisiana law in the future do not have any impact or sway on the FTC’s belief that the LREAB-stipulated policies are tantamount to price-fixing.
My comment: No more state board fee surveys to set AMC customary and reasonable fees? I am already hearing about AMCs shopping for low fees in some areas. Fees go up and down, depending on demand (or AMCs perceived demand)
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Fee schedules – Workingre survey vs. Veterans Administration
New VA fee schedule for Virginia, District of Columbia, Kentucky, Maryland and West Virginia
Workingre Fee and Turn Time Schedule (national)
Click on a state to download pdf
My comment: I always wonder what are Customary and Reasonable fees are when they change. For my area, workingre fees are definitely lower than VA. In some areas, AMC are now shopping for low fees and they going down again. See how Workingre vs. VA fees vary in your area. I have no idea why so many appraisers don’t want to work for VA. I guess they just love those AMCs or have direct lenders they work for or don’t do any lender work. The VA market share is similar to FHA’s.
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Course Title: NEW
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FHA Appraisal Training – Fort Worth, TX
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Date/Time:
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Friday, August 4, 2017, 8:30 AM – 4:30 PM (Central)
Check-in begins 30 minutes before the start of the session.
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Event Location:
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Department of Housing and Urban Development – Fort Worth Regional Office
The Burnett Building
801 Cherry Street, Unit #45
28th Floor
Fort Worth, TX 76102
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Jurisdictional Host:
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Denver Homeownership Center
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Registration Link:
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Description:
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This free, on-site training will provide an overview of FHA’s appraisal requirements, including FHA appraisal protocol and updates to FHA appraisal policy as outlined in FHA’s Single Family Housing Policy Handbook 4000.1. This training will also take an in-depth look at a variety of appraisal-related topics including: property acceptability criteria; minimum property requirements; property defective conditions; enhanced appraiser responsibilities and requirements; and much more. The training is intended for appraisers; however, other industry professionals, including underwriters and processors, may also benefit from attending.
This course is approved by the state of Texas for seven hours of Continuing Education Units/Credits (CEUs) for licensed appraisers.
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Special Instructions:
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Advance registration is required by Thursday, July 27th. Seats are limited and available on a first-come, first-served basis.
This training is being held in a government facility. Be advised that the on-site security screening is like an airport security screening. Attendees must provide a valid, government-issued photo I.D. and course registration confirmation at the guard station. Please allow extra time to go through the screening process. Formore information, contact Tamara Pritchard at: DHOC-PSD@hud.gov or (800) 225-5342. |
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HOW TO USE THE NUMBERS BELOW. Appraisals are ordered after the loan application. These numbers tell you the future for the next few weeks. For more information on how they are compiled, go to www.mbaa.org
Mortgage applications increased 0.4 percent from one week earlier
WASHINGTON, D.C. (July 26, 2017) – Mortgage applications increased 0.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 21, 2017.
The Market Composite Index, a measure of mortgage loan application volume, increased 0.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1 percent compared with the previous week. The Refinance Index increased 3 percent from the previous week. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier to the lowest level since May 2017. The unadjusted Purchase Index decreased 2 percent compared with the previous week and was 8 percent higher than the same week one year ago.
The refinance share of mortgage activity increased to 46.0 percent of total applications from 44.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.8 percent of total applications.
The FHA share of total applications decreased to 10.2 percent from 10.7 percent the week prior. The VA share of total applications decreased to 10.5 percent from 10.7 percent the week prior. The USDA share of total applications increased to 0.8 percent from 0.7 percent the week prior.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) decreased to 4.17 percent from 4.22 percent, with points increasing to 0.40 from 0.31 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $424,100) decreased to 4.06 percent from 4.18 percent, with points decreasing to 0.24 from 0.30 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 4.05 percent from 4.10 percent, with points increasing to 0.44 from 0.30 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.45 percent from 3.48 percent, with points increasing to 0.45 from 0.39 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The average contract interest rate for 5/1 ARMs decreased to 3.29 percent from 3.32 percent, with points increasing to 0.26 from 0.21 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.
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