Real Estate Agents Beware. Appraisors are Dreading Fannie and Freddie's New Burden on the Housing Industry, So Should You.

With the new underwriting requirements for Fannie and Freddie, the appraisors will not be allowed access to the comparables given by Fannie and Freddie.  Therefore, the appraisal may or may not be allowed in the loan process if Fannie or Freddie are involved.  The seller, the buyer and the real estate agents will have no idea until Fannie and Freddie get back with the loan officer.  This will extend the time and cost for the loan to go through.  This will make home loans through Fannie and Freddie more difficult for everyone.  https://www.fanniemae.com/content/faq/collateral-underwriter-faqs.pdf
I have gotten comments from appraisers who are dreading this new burden on the housing industry.
I encourage you to read Mike Power's comments on my previous blog, "Fannie and Freddie are Set to Mess With Your Appraisal". 
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Home prices nationwide, including distressed sales, increased 5.5% in November 2014 compared to November 2013, marking 33 months of straight year-over-year increases in home prices, the newest CoreLogic (CLGX) home price index found. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32512-corelogic-home-prices-continue-to-moderate
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Shared by Henry Lion Oldie, Kharkov (Ukraine), our native city. The dawn of the New Year. Happy and peaceful New Year to you, Kharkov! :-)
Photo by I. Najda (Kharkov, Ukraine).

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An Arizona Realtor claims he is the first to gain authorization from the Federal Aviation Administrationto use an unmanned aircraft system, also called a drone, for real estate photography. -- Ben Lane in HousingWire http://www.housingwire.com/articles/32524-arizona-realtor-becomes-first-to-be-allowed-to-use-drone
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The White House says Obama will address housing in his State of the Union address on Tuesday, January 21.  At this time, the weather is suppose to be good, so the address should be on time, 9p EST.
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Shared and taken by Xalima Miriel, Old Ruins


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CoreLogic's Home Price Index rose by 5.5% in November compared to the previous year.  -- Evan Nemeroff in National Mortgage News http://www.nationalmortgagenews.com/news/origination/home-prices-increase-55-in-november-corelogic-1043529-1.html?
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Nat'l Real Estate Post:
Barry Habib says- Due to the oil prices dropping, American oil production will falter and the economies located over energy deposits will falter which will cause the Treasury Note to drop to, maybe, 1%.  This will keep mortgage rates depressed.  With the weakening of economies around the world, money will flow into the US Treasuries which will drop the rates. This will make an excellent time for refinancing home mortgages.
http://thenationalrealestatepost.com/barry-habib-predicts-big-rate-drop-for-2015/?
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Shared and taken by M. Friedrich

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Mortgage loan applications were down 9.1% in the last two weeks of 2014.  It was the Christmas season, so it was expected.
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The big, big problem is that even though Fannie is under Federal "conservatorship", they are still operating as a GSE, so, they have very little pressure from Congress, except to make money which they are doing in the billions and billions. In my opinion, Fannie and Freddie are the best "cash cows" the Federal Govt has seen since Social Security!!! 

You folks, with the assistance of NAR, may be heard by Congress!!! Let me know if you need my help in this fight!!! 

Mike Power

Owner at Power Appraisals, Inc.

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Shared by Squid McFinnigan, taken by Abarta Audioguides
This Augustinian Priory was founded in c.1200 AD by William Fitz Aldhelm de Burgo. One of Ireland's very best hidden gems.


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