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We spoke with Brian Coester, CEO & founder of Coester Appraisals. We discuss if home values have really hit the bottom? Which markets are doing well and which are still struggling. The shadow inventory of foreclosures and banks releasing them into the market as well as how to help protect reverse mortgage borrowers from spending too much when their value is uncertain.
The reverse mortgage industry has just came through some of it’s most challenging years. That said we may be facing a new challenge…one of supply and demand which could increase the cost of an appraisal substantially
Continue readingIs it new HUD counseling protocols or low appraisals causing record fall-out rates? See what industry leaders have to say.
Continue readingWashington, DC – Federal Housing Finance Agency (FHFA) Director James B. Lockhart announced that Fannie Mae and Freddie Mac will implement a revised Home Valuation Code of Conduct (Code) effective May 1, 2009. The Code is based on an agreement between the Enterprises, the New York State Attorney General Andrew Cuomo and FHFA to improve the reliability of home appraisals. Following a comment period on the original Code, modifications were made by the Enterprises to reflect comments received. The revisions will facilitate implementation in the marketplace.
