Will New York's new rental laws suppress multifamily lending?

Bankers are downplaying such concerns, but others say a sharp decline in values on rent-regulated buildings means landlords will have less cash flow to acquire new properties
Source: American Banker

HUD plan would raise bar for claims of fair-lending abuse

Under a proposal yet to be officially unveiled, plaintiffs relying on the so-called “disparate impact” doctrine would have to show a more direct link between a lender’s policy and discriminatory effect.
Source: American Banker

Comment on Comparing Hybrid Appraisals with a 1004 Report by Hans G. Schaetzke II

I have had this very conversation with myself while driving to my inspections. I have pointed out to myself everything that I do and a 3rd party inspector would not do. I’m glad you covered those points for everyone in this forum because I could have put out comments on social media that would just disappear. “Do not allow your clients to labor under the assumption that an 80% job is the same as a 100% job”. That is the point! But, because the Lender writes the proprietory Hybrid form, THEY are defining your SOW. They are telling the appraiser what to do and the appraiser is assuming they are safe to do just that and only that. Well, what will happen when the Borrower gets that report? How will this affect the Public Trust in the appraisal profession? Deteriorating the Public Trust in the appraisal profession is a USPAP violation and in most states carries the penalties of Law. USPAP is adopted as the standard across all fronts, your clients, your E&O, and your State License. Is anyone ever going to sue on the basis of the Public Trust? Appraisers that do Hybrid reports had better hope no one ever does because, if they win, the flood gates will open for everyone to sue you. I am taking notes. I will never do a Bifurcated report because I want to be the guy that sues everyone for destroying my profession. I apologize if I sound like a jerk. But, I can live without ever doing a $50 appraisal and I plan to.

Source: Working RE Magazine

Comment on Comparing Hybrid Appraisals with a 1004 Report by John Welter

Thank you for your excellent observations on this topic. I personally am at the end of my 38 year career and will not perform bifurcated appraisals., the liability will be exacerbated to the appraiser. The quality is bound to suffer- one hand doesn’t know what the other is doing, too much ambiguity between the inspector’s opinion of what a C3 condition is versus the appraiser’s opinion. , by the way, what ever happened to appraisers drawing walls in their floor plans? How do you know whether you have a captured bedroom or whether the floor plan suffers from some other type of functional obsolescence! The industry is being watered down so much that it has become a form filling task with no finesse whatsoever.

Source: Working RE Magazine

Three women take top spots at Williston Financial Group

Williston Financial Group, the parent company to WFG Lender Services and WFG National Title Insurance, announced on Tuesday that Linda Vo, Melanie Cornelius and Monique Winston have been appointed vice presidents of business development for the company’s Enterprise Solutions division. 
Source: HousingWire Magazine

Barclays is latest to cut finance ties with private prisons

Barclays will stop providing future financing to companies that manage private prisons and immigration holding facilities, joining other major lenders in shunning the industry.
Source: American Banker

Powell hints Fed will take bigger role in real-time payments

“It wouldn’t be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.
Source: American Banker

Put your trust in a local mortgage broker

Before you advise your buyers to call a big bank or online retail lender for their home loan, consider that working with an independent mortgage broker—experts who specialize in home loans and are rooted in your community—can ensure your buyers reach the closing table quickly with the best rates available and personalized service throughout the entire process.

If you—or your buyers—haven’t considered working with a local mortgage broker, consider the following three factors that protect their best interests throughout the home buying journey.
Source: HousingWire Magazine

Comment on Comparing Hybrid Appraisals with a 1004 Report by Rachel Massey

Very cogent description of the process. We definitely are constantly forming our opinions as we observe the subject neighborhood and the comparable sales, even if just from the road. I really appreciate how you laid this out George. Thank you.

Source: Working RE Magazine

Regulators aim to release CRA plan in 'next few months': FDIC chief

Jelena McWilliams said federal bank regulators have made progress in developing a proposal but acknowledged that the reform process has been slow.
Source: American Banker