Senate, WH agree on $2T stimulus package

In the early hours of the morning, Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Minority Leader Chuck Schumer (D-N.Y.) announced on the Senate floor that they had reached a deal with the Trump administration for a nearly $2 trillion coronavirus relief and economic rescue bill . The bill is expected to clear Congress as early as today. 

Among its provisions, the bill:

  • Includes a $1,200 payment to Americans earning as much as $75,000 annually

  • Tax rebates

  • Four months of expanded unemployment benefits

  • Business tax changes
Information from Appraisal Standards Board, Fannie Mae, Freddie Mac and FDIC
The Appraisal Standards Board, Fannie Mae, Freddie Mac, and the Federal Insurance Deposit Corporation recently issued new guidance.

The Foundation is compiling all coronavirus-related information on  Coronavirus and Appraisers: Your Questions Answered , dedicated page at  appraisalfoundation.org

ASB Provides Guidance on Interior Inspections and Modification of Standard Appraisal Forms
The ASB provides guidance on interior inspections during a national health emergency. In addition, the ASB has issued new guidance on modifying a “Standard” Appraisal Form with a Fixed Certification and Scope of Work. 


Fannie Mae Issues Temporary Guidance on Appraisal Requirements and Completion Reports
Fannie Mae issued Lender Letter LL-2020-04 providing temporary guidance on appraisal requirements and completion reports, including allowing exterior-only and desktop appraisals for many transactions.


Freddie Mac Allowing Temporary Exceptions to Appraisal Requirements
Freddie Mac is revising its appraisal inspection and reporting requirements. Freddie Mac will accept either an appraisal with an exterior-only inspection or a desktop appraisal under certain conditions.


Federal Deposit Insurance Corporation Provides Guidance on Inspections and Appraisals.
FDIC has compiled a list of FAQs, which answers questions about inspections (Answer # 12) and Appraisals
(Answer # 13).
Federal Reserve Bank; Economic update in wake of COVID-19
 
Please join us as Nicholas Sly, Assistant Vice President and Denver Branch Executive of the Federal Reserve Bank of Kansas City, gives a economic update on the U.S. and Colorado economy in the wake of the COVID-19 pandemic.
 
When Thursday, April 2, 10-11 a.m.
Webinar
Price : $50 members $75 non-members *CBA charge for webinars is not for profit but to cover licensing fees and staff time
2020 CBA Annual Summit cancelled

With the outbreak of COVID 19, the Colorado Bankers Association has decided to cancel its May 5-6, 2020 Annual Summit at the Grand Hyatt Denver. If you have already registered as an attendee you will receive a refund. If you are a sponsor for this event, please contact Mike Bintner, Director of Education , for either a refund or to allocate your sponsorship when we host the conference next year. 
Colorado Bankers Association
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