The Appraisal Foundation Receives High Marks in GAO Survey
FOR IMMEDIATE RELEASE – February 2, 2012
Contact: Paula Douglas Seidel, Executive Administrator, The Appraisal Foundation
Washington, DC — A recent survey conducted by the Government Accountability Office (GAO) of state appraiser regulatory programs has produced high marks for The Appraisal Foundation regarding its effectiveness in issuing appraisal standards and appraiser qualifications.
The survey, which was performed in conjunction with the GAO study issued last month entitled “Real Estate Appraisals: Appraisal Subcommittee Needs to Improve Monitoring Procedures,” contained 65 questions relating to the effectiveness of the current real property appraiser regulatory system. In addition to the effectiveness of the Foundation, state appraiser regulators were asked about other topics such as state agency structure and resources, the appraisal complaint process, the Appraisal Subcommittee, and the current appraisal threshold of $250,000. Fifty of the fifty-five states and territories that regulate real property appraisers responded to the survey. The individual state responses to the survey were not made available to the public.
The results of the questions relating to The Appraisal Foundation are shown below and the results of the entire survey can be found at http://www.gao.gov/special.pubs/gao-12-198sp/.
“We are very pleased with the state appraiser regulators evaluation of the effectiveness of the Foundation and its independent Boards,” stated David Bunton, President of The Appraisal Foundation. “We have developed an excellent working relationship with state appraiser regulators over the years. The high marks are testament to the effective partnership that has developed between state appraiser regulators (through the Association of Appraiser Regulatory Officials (AARO)), the Appraisal Subcommittee and the combined resources of the Foundation, including our Sponsoring Organizations and Advisory Councils,” he added.
~ Source The Appraisal Foundation (TAF)
About The Appraisal Foundation The Appraisal Foundation, a Congressionally authorized non-profit organization established in 1987, is dedicated to the advancement of professional valuation. The Foundation accomplishes its mission through the work of its three independent Boards: the Appraisal Practices Board (APB), the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). More information on The Appraisal Foundation is available at www.appraisalfoundation.org.