NAR Safety Tips - click here
FHFA and GSEs Act on HVCC Concerns -- NAR President Charles McMillan has an important update on NAR's effort to address ongoing problems with recent changes to appraisal rules. As a direct result of recent meetings with the New York Attorney General's office, the Federal Housing Agency, and Fannie Mae, both Freddie Mac and Fannie Mae this week issued new guidance to all lenders on the Home Valuation Code of Conduct.
The alert clarifies two very important points that were raised in the meeting with officials. First, it states that lenders should use appraisers who have clear experience in the geographic area. Second, it clarifies that appraisers are not prohibited from talking to real estate agents. Click here to read more.
In addition to this guidance, both Fannie Mae and Freddie Mac recently posted extensive Q and As on their respective Web sites, based on information that NAR provided when the code was first adopted in May.
Links to all of this information is available at www.Realtor.org/HVCC
The Executive Summary of the Marin Countywide Plan is now available. The 112-page soft-cover book, printed in color, summarizes the goals, policies, programs and benchmarks of the 2007 Marin Countywide Plan. The book will be helpful to Marin residents interested in their community and for anyone interested in planning for sustainable communities. Copies are available for $25 by contacting Sharon Silver at 415-499-7874 or ssilver@co.marin.ca.us or downloadable free from the web at www.future-marin.org.
Check out the Market Response Center at www.car.org/tools/smart/ for new or updated information on the following:
Legal Q&A on Credit After Foreclosure, Bankruptcy, or Short Sale
http://www.car.org/tools/smart/new/creditqanda/
Making Home Affordable Foreclosure Alternatives Program (FAP) Details
http://www.car.org/tools/smart/new/fap/
First-time Buyer Housing Affordability Index (First Quarter 2009)
http://www.car.org/tools/smart/new/housingaffordability/
Housing Affordability Index � Traditional
http://www.car.org/tools/smart/new/traditionalhai/
Keeping Your Attitude Upbeat During Tough Times, Arnold Sanow, MBA, CSP http://www.youtube.com/watch?v=m6SascZiYBA
Member Legal Services has published a new legal article, Credit After Bankruptcy, Foreclosure or Short Sale (May 12, 2009). It is available on Legal's What's New, the Legal Articles pages, and the 2009 Legal Q&As page on C.A.R. Online. This new legal article provide guidance to consumers hit with a foreclosure, deed-in-lieu of foreclosure, bankruptcy, or short sale and trying to obtain credit in order to buy another home or other property. The article explains the Fannie Mae guidelines for obtaining credit after these events.
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