Appraisals take center stage in creating emergency relief

In today’s Daily Download episode, HousingWire HW+ Managing Editor Brena Nath discusses newly announced rules from federal regulators which will allow banks to delay property appraisals for as many as 120 days after a mortgage closes. On Tuesday, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency announced the rules in hope of extending financing to creditworthy households and businesses impacted by the coronavirus pandemic.

Following Nath, HousingWire Digital Producer Alcynna Lloyd touches on Treasury Secretary Steve Mnuchin’s pledge to make sure the U.S. mortgage market continues to function properly, the Mortgage Bankers Association’s weekly mortgage applications survey that reported an uptick in refinance borrowers, and the National Association of Homebuilders/Wells Fargo’s Housing Market Index, which revealed homebuilder confidence fell to an 8-year low during April.

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:

• Banks will soon be able to postpone some appraisals until 120 days after a mortgage closes
• Mnuchin on mortgage servicing: We’re going to make sure that the market functions properly
• Refinancing fuels uptick in mortgage applications
• Homebuilder confidence tumbles to 8-year low