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

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 More

Fannie 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 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

Measuring Residential Properties for Gross Living Area (GLA)

Appraiser CE: CEE1828AC Elective Credit – 4 Hour Course – REAL ESTATE CE: CE 3719REC June 9, 2022 9:00am to 1:00pm (check-in 8:30 – 9:00) REGISTER HERE

Coastal Carolinas Association of REALTORS® Office | 951 Shine Ave., Myrtle Beach SC 29577 $85.00

For more information contact: Kathleen Pinson | kathleen@ccarsc.org | 843-626-3638
FNMA required the American National Standard Institute method to be used in measuring homes as of April 1, 2022

What is Finished/Unfinished Living Area
What is Grad Level/Below Grade Level
Gross Living Areas and the Divisions
Measuring Finished Living Areas
Using Interior Measurements
Reviewing Architectural Plans
Measuring Lofts, Bonus Rooms, Finished Attics
Calculating GLA
The new ANSI-Z765 2021 will be discussed in the class

Class Written By: Wes Hasty Instructor: Malinda Griffin #327; #1335 Co Sponsored by: SCPAC and CCAR Appraisal Section

November - Volume 2020 Issue 2

2021 Annual Conference