Topics getting a lot of attention…
Life can be hectic around this time of the year and we wanted to remind everyone of a few items that need your attention and action:
First: The AQB has another exposure draft out concerning appraiser licensing qualifications.
The big issues are, , . These topics have been getting a lot of attention as the “perceived appraiser shortage” card is being played by lenders and AMCs.
Please take a few minutes and share your thoughts. The exposure draft and comment instructions can be found here. VaCAP urges every appraiser to comment on these topics. The deadline is January 12, 2018.
The AQB will also accept public comments at its meeting on Thursday, February 1, 2018 in Washington DC. All appraiser within a reasonable distance should attend this meeting. AMCs and lenders will be present and it is more important that the appraisers voice, not only be heard, but remembered.
Second: A few weeks ago VaCAP asked for your help in tracking purchase contracts. We asked you record the contract ratification date, the lender/ AMC, property address and the date the appraisal assignment was accepted. Please make sure we have your spread sheets in by January 1, 2018. We are anxiously awaiting to compile this information.
To see the original request and download a spreadsheet, click here.
Third: Pay attention to your receivables. There are stories and comments on blogs, forums and Facebook groups about several AMCs in serious financial trouble and appraisers reporting past due invoices. Protect yourself and your business.