Moody’s Investors Service increased its assessment of Wells Fargo’s jumbo-mortgage property valuation practices from above average to strong. The rating service said the improvement was due to Wells no longer having an ownership interest in one of the appraisal management companies used by the bank. “During the prior review, Wells had an equity interest in an AMC which received approximately 90 percent of the appraisal orders,” Moody’s said ... [Includes two briefs]
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
FHA’s COVID-19 loss-mitigation options will be rescinded and the Trump administration is taking a close look at the payment supplement program established during the Biden administration.
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