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The appraisal industry is currently going through a period of transition. New regulations limiting the type of interactions that are permissible between lenders and appraisers have brought appraisal management companies (AMCs) into the center of the valuation world. And while AMCs have helped to act as a buffer between lenders and appraisers to ensure compliance, the inclusion of a third party has also caused a great deal of uncertainty. What is a customary and reasonable fee these days? What is the expected turnaround time for an appraisal report? How long should it take to get paid for a given assignment? These are the million-dollar questions that still remain largely unanswered.

Eugene Pasymowski, chief valuation officer from EMC2 Data, describes how using regression analysis can help protect appraisers from coming to faulty valuations of residential property.

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced that it will begin issuing two new review designations in 2014. The designations will be the Appraisal Institute’s first new designations in more than 20 years. Keep reading to learn about the new designations.

Fannie Mae, the nation’s leading source of residential mortgage credit in the U.S. secondary market, announced on Nov. 14 that its board of directors has elected a new member to join the company’s board. This member will complement other members’ areas of expertise and strengthen the board’s governance of Fannie Mae as the company works to create a safer, more transparent and sustainable housing finance system, Fannie Mae said.

There might be more individuals than normal celebrating the holidays in a new residence this year, according to realtor.com’s Winter Home Buyer Report. The report, which was constructed from a survey of more than 1,300 potential homebuyers hoping to purchase during the winter months, indicated that potential homeowners will be looking now because of the challenges of finding a home in the previous home-buying season. The main challenges that plagued those in the housing market the past few months were low inventory, high demand and the prevalence of all-cash buyers who were able to present more attractive offers.

The Great Recession had severe ramifications for many demographics throughout the country, but no group was hit by the economic downturn more noticeably than Hispanics. According to Fox News Latino analysis of market data, Hispanics suffered the biggest hit to household wealth due to the housing crash. Specifically, median household wealth for Latinos dropped by 58 percent from 2005 to 2011, the Pew Research Center reported. In 2005, Hispanic households had an average of $105,000 in equity in their homes. The average amount of equity fell to $50,000 by 2011.

Re/Max, a franchisor of real estate brokerage services, announced the results of its October Re/Max National Housing Report on Nov. 18. The monthly report, which is based on MLS data from approximately 52 metro areas, has shown that home sales and home prices continued on a favorable path in October. Although home sales dropped by 2.8 percent and home prices dropped 2.7 percent from September, the drop is consistent with routine seasonal buying practices that tend to dip when the weather gets cold.

The latest FNC Residential Price Index for November shows strong growth of home prices during the third quarter of 2013 as the housing recovery continues to broaden across the country. The index, constructed to gauge the price movement among the underlying non-distressed home sales, increased between the second and third quarters, making the third-quarter growth the fastest in the current recovery. Keep reading to see the full results.

Builder confidence in the market for newly built, single-family homes was unchanged, yet positive in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released Nov. 18. Keep reading to see the full results.

The National Association of Home Builders (NAHB) petitioned Congress on Nov. 19 to take actions to mitigate the unintended ramifications associated with the Biggert-Waters Flood Insurance Act that have resulted in extreme flood insurance premium spikes in some regions. Barry Rutenberg, past chairman of the NAHB, said a primary concern with the law is that some homeowners that were afforded subsidized flood insurance rates under the National Flood Insurance Program (NFIP) were being forced to accept the full actuarial risk rate when their properties were either sold or transferred.

JPMorgan agreed to pay a record $13 billion to settle state and federal claims that the firm misled investors about securities containing toxic mortgages. The agreement, unveiled by the Justice Department on Nov. 19, resolves claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public — including the investing public — about numerous RMBS transactions. “Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown,” said Attorney General Eric Holder. “JPMorgan was not the only financial institution during this period to knowingly bundle toxic loans and sell them to unsuspecting investors, but that is no excuse for the firm’s behavior.”

In January 2014, the new Equal Credit Opportunity Act (ECOA) Valuations Rule takes effect. Among other things, this rule requires that lenders must provide a copy of any automated valuation model (AVM) used in the mortgage lending process to applicants, even if the AVM was only used in a supporting role and not as the primary source of value. This will impose added expenses to an already burdensome process and may lead to increased confusion on the part of applicants. Valuation Research LLC, a provider of tools and analytics for valuation professionals, has developed solutions to help both appraisers and lenders deal with this new regulation. The company has created cost-effective technology that enables valuation professionals to develop more accurate, defensible value conclusions that can be easily shared. The technology can also help individuals determine if specific value conclusions are reasonable.

RealtyTrac, a provider of comprehensive housing data and analytics, released its U.S. Foreclosure Market Report for October, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions —increased from the previous month, but have decreased significantly from a year ago. Keep reading to see the complete results.

The Mortgage Bankers Association has released its Weekly Mortgage Applications Survey for the week ending Nov. 15. The survey helps generate summary reports that show the status of application data and mortgage rates. It also incorporates 15 indices that cover other mortgage-related data. Keep reading to see the data.

Mortgage applications decreased from the previous week, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Nov. 8. Keep reading to see the full results.

The U.S. Department of Housing and Urban Development and U.S. Department of Transportation have unveiled a new cost calculation tool that allows users to estimate housing and transportation costs for neighborhoods across the country. Continue reading to see the details.

A New Jersey-based, full-service mortgage lender licensed in all 50 states, was presented with Inc. magazine’s 2013 Hire Power Award on Nov. 12 at a ceremony held at the Marines' Memorial Club & Hotel in San Francisco. The company, which was ranked No. 7 on the second annual list of private businesses that have generated the most jobs in the past 18 months, created 1,080 jobs from Jan. 1, 2012 to June 30, 2013, making it one of the highest-ranking private business job creators in the Eastern U.S. Keep reading to see what company made the list.