January 11, 2019 - Appraiser Income

11th January 2019

Nominations for 2020 AI Vice President Due Feb. 8

The Appraisal Institute is seeking the names of AI professionals interested in serving as the organization’s 2020 vice president. The 2020 vice president will succeed to the office of president-elect in 2021, president in 2022 and immediate past president in 2023.

The deadline for submission is Feb. 8.

View the qualifications for 2020 vice president. Nominees cannot serve as a member of the National Nominating Committee at any time during the year in which their candidacy would be considered. This requirement does not preclude consideration for the office in future years.

AI professionals wishing to serve or interested in recommending someone for the position should submit information in writing to:

James L. Murrett, MAI, SRAChair, 2019 National Nominating Committeec/o Joan Barngrover

Appraisal Institute

200 W. Madison Avenue Suite 1500

Chicago, IL 60606

Or email your recommendation to: jbarngrover@appraisalinstitute.org

The National Nominating Committee is scheduled to meet in Chicago on May 6-8.

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11th January 2019

Shutdown Affects Appraisal Orders and Borrowers

The partial federal government shutdown is complicating the already complicated process of getting and managing a mortgage. For one thing, the political storm is like severe weather at a major airport: You can expect minor delays or worse. Also, it could mean financial hardship for some federal government employees facing mortgage payments without their regular paychecks.

Here’s how the shutdown is affecting appraisers and home buyers.

If you’re getting a Federal Housing Administration or Department of Veterans Affairs loan, it’s likely you can expect delays in the underwriting process, and it’s possible your closing date will be pushed back as well.

There’s good news for most FHA-qualified home buyers: Single-family FHA loans are being funded, even during the shutdown. FHA home equity conversion mortgages (known as reverse mortgages) and FHA Title I loans (financing for permanent property improvements and renovations) are the exception — and won’t be processed during the shutdown. The processing of VA loans will continue, according to the Mortgage Bankers Association, but you may have to wait.

…continue reading the rest of this post: Shutdown Affects Appraisal Orders and Borrowers

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