The appraisal industry is opposed to a legislative proposal that would make changes to how appraisals are procured for the VA home loan program. The appraisal measure is one of the key provisions in H.R. 299, the Blue Water Navy Vietnam Veterans Act, which the House of Representatives passed by a vote of 382-0 in June. The bill is now pending in the Senate Committee on Veterans’ Affairs. The Blue Water Act would clarify presumptions relating to veterans’ exposure to herbicide, such as Agent Orange, during the Vietnam era and disability claims. The bill also proposes changes to the VA loan fee structure, including a proposed hike to the fees veterans, servicemembers and their spouses pay to obtain a VA-guaranteed home loan. The appraisal provision in H.R. 299 would allow VA appraisers to engage a third party to perform property inspections on their behalf. The provision addresses a problem with ...
After federal courts overturned the Consumer Financial Protection Bureau’s aggressive interpretation of the anti-kickback provisions in the Real Estate Settlement Procedures Act, lenders are more confident about forging marketing services agreements, industry experts said.
After a brief hiatus while new management took over, the Consumer Financial Protection Bureau recently has resumed taking enforcement actions. Attorneys said the settlements look similar to those under the prior leadership, but the enforcement strategy is different.
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