The president of the National Association of Realtors released a statement on the 23rd in regards to appraisal clarification. During meetings with the New York Attorney General's office and the FHFA (Federal Housing Finance Agency) several concerns were discussed. As a result of the meeting, Fannie Mae and Freddie Mac gave clear guidance on lenders having appraisers with knowledge of the geographic area and that appraisers are allowed to talk to real estate agents. Both issues have negatively affected sales and sometimes resulted in the loss of a sale in the past.

For the full press release click here!