Category: AQB

Appraisal Simulator, Evaluations, S2155 update, & Recap of Meetings 16

Appraisal Simulator

The industry is working of an appraisal simulator… The US House of Representatives Passed S 2155 today! Section 103 allows for waivers of appraisals by licensed appraisers in certain situations. See the press release here and the bill here. Other News: Last week The National Association of Realtors held their Real Property Valuation Committee meeting. We have 2 VaCAP members on this committee. Here is a brief over view of the meeting from our representative in attendance. John Brenan with the Appraisal Qualifications Board (AQB) spoke at the meeting and gave an update on the roll back of licensing requirements that went...

http://appraisersblogs.com/wp-content/uploads/2018/02/AQB-qualifications-criteria-changes-5.2018.pdf 11

AQB Qualifications Criteria Changes

Folks, I wanted to wait to send info about this until the AQB actually published a document showing the actual ‘new’ Qualifications Criteria for Real Property Appraisers. When first announced a few days ago, no official document was posted – only a news release. These take effect May 1, 2018. See the attached 4 page PDF. Due to ‘states rights’ issues in 54 jurisdictions (states & territories), implementation may not actually happen on 5/01/18. The document says this: “Because state appraiser regulatory agencies are only required to adopt minimum AQB Criteria, it is crucial that candidates contact their state to determine if the state intends...

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How Fast Can Your Head Spin?

Hopefully you have been busy and have not noticed VaCAP has been quiet over the past few weeks. Not by choice, but necessity. You see, there has been so much happening, we have been overwhelmed and our heads are spinning out of control. VaCAP needs more members to volunteer to help us help you. Let us know how you can help. Let’s start with the easy stuff: The Virginia Real Estate Appraiser Board Quarterly Meeting will take place on February 21, 2018. The meeting will begin at 10:00 AM and there will be a public comment period for anyone who wishes to address...

Experience Requirements Reduced, College Degree Still Required for CG 18

Experience Requirements Reduced

Sometimes the only substitute for experience, …is more experience. Dear Mr. Traynor: The American Guild of Appraisers has long been on record in opposition to the original requirement for a college degree to become any level of real estate appraiser. This was never a requirement of Congress at all, but rather one developed by the AQB over time. While we are pleased AQB has abandoned the college degree at the licensed and residential certification levels, we are disappointed to see it is still being proposed at the general certified level. We repeat for the record; there is nothing involved in...

Order Takers? AQB Advocating For All The New Garbage Products 19

Careless Order Takers?

Appraisers were simply order takers… A friend that refers a lot of commercial work to me forwarded the following communications from an AMC. He’s been telling to ‘go away’ for some time now. This time he played along to see exactly what it is they are hustling. I’ve redacted my friends name and eliminated excessive line spacing and repetitive email signatures. I also bold highlighted references to John Brenan & AQB communications. Otherwise it’s as copied from my email. We’ve all heard enough about hybrids so you can either read the copied emails or skip them. It’s the article from...

Topics Needing Your Attention: AQB, Track Delays & Receivables 3

Action Reminders

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 Degree Requirements, Alternative Tracks, Practical Applications and Experience Requirements. 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...

Hybrid Appraisal Products & Public Trust 7

Hybrid Appraisal Products & Public Trust

Are busy appraisers doing Hybrid Appraisal products? Appraisers, The article titled First American launches new appraisal solutions technology popped in my system Tuesday early morning as I was getting ready to park my slippers. This article touts another ‘major’ company’s effort to design and implement a new version of what’s become to be known as a Hybrid Appraisal product. These products are designed to have a real estate sales person do the on-site property observation and photos, which are then provided to an appraiser, who completes a USPAP compliant ‘desktop’ appraisal. The whole point of these Hybrid appraisal products is...

Residential Appraisers Being Phased Out 20

Appraisal Alternatives

Computers eliminating “boots on the ground” residential appraisers. An historian once quipped, “I cannot predict the future, but give me six months and I’ll tell you why it was inevitable.” Residential appraisers who work in the mortgage arena began to experience the sea change when UAD arrived amongst much fanfare in September of 2011. Years of portals, hard-stops, and overrides have settled into an uneasy routine. We’ve already seen changes to closing docs as a result of TRID (TILA RESPA Integrated Disclosures). That adventure began in November 2013. Washington DC, never content to maintain any level of consistency has already...

Real Estate Appraisal Industry Crying Out for Leadership & AI Inaction 7

AI Current Path is a Serious Issue for ALL Appraisers

Time for the AI to cooperate with real estate appraisal state coalitions…? Is it finally time for the AI to cooperate with other respected professional peer organizations and state coalitions? Please read the following article by Jonathan Miller, titled “Sadly, The Appraisal Institute is now working against its local chapters“, to see what AI insiders views are about the relevance of the AI’s current path. While my intent is not to take cheap potshots at the AI, I do find it odd that the same organization that repeatedly testifies in public that it represents the interests of all appraisers in...

The Partisan Battle to Eliminate Dodd Frank 15

The Partisan Battle to Eliminate Dodd Frank

Dodd Frank created the illusion… I had a different “take away” from the Housing and Insurance Subcommittee “Modernizing Appraisals” hearing. My impression was that there were two simultaneous hearings by the same people in the same place. There was the actual televised hearing with disparate prepared speeches, and then there was the real underlying reason for the hearing. The partisan battle to eliminate Dodd Frank. I try very hard to take a non partisan approach to the issues facing appraisers when writing about or for the American Guild of Appraisers (AGA). Obviously AGA is a union organization, though as I’ve...

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