Upcoming Event: Annual Conference - February 23rd & 24th
Location: Coastal Carolina Association of Realtors
951 Shine Ave
Myrtle Beach, SC 29577
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.
News
Congratulations to Laura Smith for being inducted as board member for AARO!!
SCPAC is Proud to Announce the Following
Congratulations to Dale Bailey for being nominated to be the Chairman of the Membership Committee for The Appraisal Foundation Advisory Council for the upcoming year.
As you may know, Ben Atkins was a previous Chairman of this committee. After consulting with Ben and reflecting on the current condition of appraisal organizations nationwide, Dale's hope is to bring a positive outlook to this position and an outstanding reflection for SCPAC that he attend to this duty.
He has accepted the nomination on behalf of SCPAC and will do his best to uphold and promote both organizations to the best of his ability.
Thank you, Dale for your continued support and representation of your profession, colleagues and SCPAC!
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 MoreFannie Mae's New Racial Bias
It was probably inevitable that the Biden Administration would enlist housing giants Fannie Mae and Freddie Mac to advance its woke agenda, and now it has. Last week the government-sponsored enterprises released plans to promote housing “equity” that are chock-full of race-based subsidies.Fannie and Freddie have been under federal conservatorship since Treasury rescued them during the housing meltdown with a $190 billion taxpayer bailout. The Federal Housing Finance Agency (FHFA) has since regulated their capital, liquidity and underwriting, as well as the mortgages they can acquire. Trump FHFA director Mark Calabria kept the monsters on a tight leash, but there was always a risk that a future Administration would ease up and politicize home lending again. That day has come. 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 MoreData 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 MoreUpcoming Continuing Education Events
14 Hours of CE will be offered at our upcoming Annual Conference in Myrtle Beach, SC.
-7 Hours will be on Thursday February 23rd
-7 Hours will be on Friday February 24th
**More specific info regarding CE material coming soon**
