The Louisiana Chapter of the Appraisal Institute

News Archives - September 2011

LCAI Welcomes Its Newest Affiliate The Louisiana Chapter would like to welcome its newest associate: Jason Camouche from Metairie, LA.

LCAI Welcomes Its Newest Affiliate The Louisiana Chapter would like to welcome its newest affiliate: Blake A. Ridings from New Orleans, LA.

Appraiser-Client: Can We Talk? As members and affiliates of the Appraisal Institute, we should strive to increase our knowledge of our appraiser regulatory requirements (USPAP) and the requirements of our users. For many appraisers, our clients are banks and mortgage companies. These financial institution clients are subject to changing federal regulations that have a significant impact on our appraiser/client relationship.

FHA Extends Date to Adopt Uniform Appraisal Dataset The Federal Housing Administration pushed back its adoption of the new Uniform Appraisal Dataset forms to Jan. 1, 2012; Fannie Mae and Freddie Mac will still adopt the forms Sept. 1, 2011, the U.S. Department of Housing and Urban Development reported Aug. 22.

Freddie Warns of Rising Short Sale Fraud Freddie Mac has noticed an uptick in short-sale fraud, HousingWire.com reported Aug. 22. The biggest increase in short-sale fraud involved real estate agents who failed to disclose that other parties were involved in a transaction and who hid better offers in order to rig sales at a low price.

CBO: Fannie, Freddie Expected to Cost Taxpayers $51 Billion The Congressional Budget Office estimated that mortgage giants Fannie Mae and Freddie Mac would cost taxpayers $51 billion between 2012 and 2021, HousingWire.com reported Aug. 24. The projection was $9 billion more than the estimate released by the nonpartisan government office in June.

Shaky Economy Prompts Fannie Mae to Downgrade Outlook Fannie Mae downshifted its August 2011 Economic Outlook from 3.1 percent to 1.4 percent, the government-sponsored enterprise reported Aug. 22. However, the mortgage giant expected growth to pick up in 2012 by about 2 percent, down from its previous forecast of 3.1 percent.