June 2, 2017
- The United States Housing and Urban Development Agency(HUD) recently published a report proposing adjustments to the method of calculation of fair market value rents. Additionally, HUD seeks the public’s input on the matter before determining a final decision.
- The Consumer Financial Protection Bureau (CFPB) released a report regarding elders and the effect of reverse mortgages. The CFPB has known about the reverse mortgage problems; however, the complaints from those age 62 in above is 10% higher than their younger counterparts. The chief complaints presented by elders are “difficulty in changing the loan terms” and “problems communicating with loan servicers.”
- The Federal Trade Commission (FTC) believes the state of Louisiana is in violation of federal law. The FTC alleges Louisiana’s Real Estate Appraisal Board’s regulatory practices violate federal antitrust laws. The Louisiana Real Estate Appraisal Board requires strict adherence of a “‘customary and reasonable’ appraisal fee schedule” which stifles competition.