The third anniversary of the global Coronavirus pandemic is on Saturday March 11, 2023. On March 11, 2020, the World Health Organization’s declared the global pandemic. A lot has changed since then. On February 9, 2023 the Department of Health and Human Services (HHS) issued a Press Release regarding the continuation of the federal Public Health Emergency (PHE) for COVID-19. Based on current COVID-19 trends, HHS is planning for the PHE, declared under Section 319 […]
Month: March 2023
TRID DISCLOSURES FOR CONSTRUCTION LOANS – ARE REVISIONS POSSIBLE?
On February 27, 2023, the Consumer Financial Protection Bureau (CFPB) published a blog article regarding efforts by the Independent Community Bankers of America (ICBA) to gain approval for an application regarding consumer disclosures of a loan that provides either construction or construction-permanent financing In its April 28, 2022 application, the ICBA states it is not uncommon in rural communities for first-time homebuyers to build their first home because there are limited existing affordable “starter” homes. The […]
UPDATE ON APPRAISALS AND DISCRIMINATION
On February 14, 2023, the Federal Deposit Insurance Corporation, Consumer Financial Protection Bureau, U.S. Department of Housing and Urban Development, National Credit Union Administration, Federal Reserve Board, U.S. Department of Justice, Office of the Comptroller of the Currency, and the Federal Housing Finance Agency (the “agencies”) sent a joint letter to The Appraisal Foundation (TAF) expressing concerns with the Fourth Exposure Draft of Proposed Changes for the 2023 Edition of the Uniform Standards of Professional Appraisal Practice […]