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NCUA follows banking regulators to approve new appraisal policy

NCUA follows banking regulators to approve new appraisal policy

FromHousingWire Daily


NCUA follows banking regulators to approve new appraisal policy

FromHousingWire Daily

ratings:
Length:
7 minutes
Released:
Apr 23, 2020
Format:
Podcast episode

Description

In today’s Daily Download episode, HW+ Managing Editor Brena Nath discusses an announcement from the National Credit Union Administration (NCUA) that credit unions can now delay appraisals up to 4 months after a mortgage closes. Last week, Federal banking regulators moved to allow banks to delay getting an appraisal on a property for as many as 120 days after a mortgage closes, and now, credit unions can do the same thing.In order to “allow credit unions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the National Emergency declared in connection with coronavirus disease,” the NCUA will allow credit unions to postpone obtaining an appraisal until four months after a mortgage closes.Following the main story, HousingWire Digital Producer Alcynna Lloyd covers the Labor Department’s latest report that indicates U.S. jobless claims rose by 4.43 million last week, Freddie Mac’s weekly Primary Mortgage Market Survey that reveals mortgage rates slightly ticked up to 3.33% and the U.S. Census Bureau’s new-home sales report that reveals new-home sales tumbled 15.4% in March, marking the biggest drop in more than six years.The Daily Download examines the most captivating articles reported from the HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode:Credit unions can now also delay appraisals until 4 months after a mortgage1 in 5 Americans lost a job because of COVID-19, initial claims showAverage U.S. mortgage rate ticks up to 3.33%New-home sales plummeted in March
Released:
Apr 23, 2020
Format:
Podcast episode

Titles in the series (100)

HousingWire Daily examines the most compelling mortgage, real estate, and fintech articles reported across HW Media. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by the HW Media team.