The Department of Housing and Urban Development has announced that its new "Appraiser Watch" monitoring system is fully operational.Under Appraiser Watch, the Federal Housing Administration will be able to spot appraisers who are regularly connected to a high number of loan transactions that end up in default. "FHA will be able to identify appraisers who either knowingly or unintentionally place homeowners at risk for losing their homes to foreclosures because of inflated valuations," according to HUD. The new monitoring system is modeled after Credit Watch, which allows HUD to identify and suspend FHA single-family lenders with abnormally high early default rates.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
6h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
7h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
8h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
10h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
10h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18