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Call to Action

Many of you probably don't know is that Fannie Mae has a communication platform on their website, but it is buried so deep that it is hard to find. I have attached the link below.

Fannie Mae is in the process of "Modernizing the Appraisal". Providing useful feedback MAY help shape what we will be doing in the future. One of our Colleagues with the Network spoke with Carol Bell at Fannie Mae last week along with those heading up the modernization process. It seems they are looking for a broader range of valuation options ranging from the Day One Appraisal Waiver, Desktop type reports to a more intense SFR (1004) type report. They expressed that the UAD data is not working as they had hoped and intimated that they are going to make some changes.

I don't know how much influence we, as a group will have, but I am pretty sure that more feedback is better than none.

Contact Fannie Mae

News

Chariman Hensarling - GSE Reform Bill

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing on the 10th anniversary of the federal government’s takeover of Fannie Mae and Freddie Mac, the failed... Read More

Sharing Information Among Us

One of the benefits of being a SCPAC member is sharing industry information. Not only do we share our information, we also share information from others . We encourage each of you to share industry articles with us. Being informed leads to success! Read More

Data doesn't create meaning, people do

In the interview we did with Fannie Mae last issue, Fannie Mae & Your Future, Fannie says that they have determined that big data, when combined with new and powerful algorithms, are "good enough" for certain types of transactions—and are cheaper and faster to boot, which is seemingly what everyone demands these days. Read More

SCPAC is Proud to Announce the Following

The Appraisal Foundation has announced that SCPAC Board Member, Ben Atkins, will serve as Chair of the Membership Committee for TAFAC, The Appraisal Foundation Advisory Council for 2018. Congratulations to Ben on this new position and thanks for representing SCPAC so well!

HousingWire News

[Pulse] Did Amazon's about-face on its NY HQ2 plans turn the Long Island City real estate market upside down?

Wed, 20 Feb 2019 16:00:00 -0500
Well before Amazon announced its plans to pursue a second headquarters in Long Island City, the Queens neighborhood was among the fast-growing real estate markets of NYC. Major players in the real estate industry set their foot on the once-crumbling industrial neighborhood and secured millions of dollars to finance massive commercial and industrial projects. Yet, Amazon’s snafu announced last week still stunned the LIC real estate market.

Chase guarantees it will close a mortgage in 21 days or it’ll give you $1,000

Wed, 20 Feb 2019 14:44:00 -0500
Chase Home Lending now claims it can close on a borrower’s mortgage in as little as three weeks and it’s putting its money where its mouth is to back up that claim. Chase announced recently that it is rolling out a program called “Closing Guarantee” for its existing customers. Through the program, the bank promises to close a mortgage in 21 days, and if the bank doesn’t close on the loan in the timeframe, it will pay the borrower $1,000.

NAHB: Home renovation spending expected to boom, while homebuilder pockets bust

Wed, 20 Feb 2019 14:20:00 -0500
Homebuilders around the country expect consumer confidence and demand to boost home renovation spending within the next two years, according to the National Association of Home Builders. NAHB Remodelers Chair Joanne Theunissen said although there is steady demand across the country, costs of labor and materials are the industry's biggest challenges.


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Annual Conference & USPAP Course

Calling All Appraisers!!!! The SCPAC Annual Conference is coming up in February and we would love to have you there. The conference will be at the Hilton Garden Inn, Mount Pleasant, SC on February 16th and 17th. Arrive early and take a moment to recharge your Appraiser Engines!