Another Appraisal Waiver Request
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Another Appraisal Waiver request has been sent to the ASC. This time from City Bank and Trust in Oklahoma. The bank is claiming a shortage of acceptable appraisers in the area.
“Our bank has on staff an individual who has maintained a Certified Residential Appraiser license until April 2017. This individual has provided acceptable appraisals and evaluations for the past 20+ years. He determined to allow his license to expire due to the rather burdensome CE requirements and the distance to and from approved course within the state.
With the educational requirements, training process, number of hours required by the state, there is very little incentive for an individual to pursue obtaining an appraisal license. Most people cannot afford the time it takes to become licensed. Additionally, it is more difficult to find people in the Oklahoma Panhandle desiring to spend the time and effort to conduct appraisals in this sparsely populated part of the state.
Speaking for our bank in particular, we believe we have staff in the bank with lengthy experience in knowing our community. They have a good understanding of our local market, develop and document values and trends on an ongoing basis and are competent to produce evaluations and appraisals sufficient in nature to assure reliable valuations of real properties.
Therefore, we respectfully request that we be considered for a temporary waiver pertaining to the certification and licensing requirements.”
See the letter of request here.
VaCAP, along with many other appraisal organizations have sent a letter to Jim Parks concerning the Appraisal Waiver request from TriStar Bank. TriStar Bank is in Tennessee and requested a waiver a few days ago.
See the letter here.
We are concerned this could become a fast growing trend. If the ASC grants these waivers, the door will be opened for all others to follow. Now, more than ever, it is time for appraisers to come together. Get involved with your coalitions and other professional organizations. Contact your State and Federal Legislators. This is our profession and we are here to protect the public. Appraisal Waivers do not protect the public!
To join, donate, volunteer and support VaCAP, click here.