Tagged: AI

Appraisal news for real estate appraisers and real estate professionals regarding the Appraisal Institute (AI), a global membership association of professional real estate appraisers throughout the world. News relating to the Appraisal Industry.

IRS & USPAP: Substantially in Accordance with USPAP vs Being USPAP Compliant 0

IRS & USPAP

Treasury Department & IRS BOTH officially adopted USPAP back in 2009… except when they don’t want to follow it… The Appraisal Foundation is once again misinterpreting the very regulations they purport to be reporting and telling consumers to be sure to follow. As a matter of fact by substituting their own verbiage for what Treasury Regulations and IRS (Final Rule) policies actually say, they could be causing extreme harm to untold numbers taxpayers. The following article includes a link that MUST be read to understand all the nuances, and which should be used as the final determinant of what is...

MISMO Blueprint... The Evil Octopus - AppraisersBlogs 4

The Evil Octopus

Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to Appraisers: Residential & Commercial This started as a response to a blog post by a respected appraiser concerning the influence of AMCs. During drafting it was clear that trying to explain AMCs was only part of the bigger struggles we face today. Picture a violent “all in” three-way gang fight among Octopi. Say a dozen on each side. That’s 36 Octopi x 8 tentacles...

FHFA Working Paper Credibility Questioned by AGA 9

Working Paper Credibility Questioned

NO REAL ESTATE APPRAISER IN THE COUNTRY IS ALLOWED TO MISS THE MARK BY 7.8% WITHOUT RISKING LOSS OF LICENSE! The Working Paper demonstrates more than anything else, that given an 8-hour work day the computer will take 6 full working days (1.2 working weeks) to arrive at a result that is at best 7.8% error prone. Office of the Director, Honorable Melvin Watt Federal Housing Finance Agency… Dear Sir(s) The American Guild of Appraisers is a Guild within the more than 12 1/2 million members, retirees and family members of our parent union OPEIU, AFL/CIO. In addition to representing...

TriStar Bank Nuclear Option DENIED! FTC vs LREAB in Circuit Court 16

Nuclear Option DENIED!

VaCAP has just been informed the TriStar Bank Waiver Request has been DENIED by the ASC. Representatives from VaCap attended the TriStar bank appraisal waiver hearing at the Federal Reserve building in DC this morning. Also present were John Russell with the ASA-NAIFA, Leo Regensburg with the AGA, Bill Garber with the AI, Mark Shiffman with REVAA, appraisers and other stake holders. The board members consisted of Robert Witt with the FHFA, Veronica Spicer representing the CFPB, Richard Taft representing the OCC, and ASC board members. The meeting got off to a late start because the Tri-Star representatives were held...

Appraisal Waivers Meeting... Self Serving Risky Practices Going Forward 16

Appraisal Waivers

TriStar Bank’s request for appraisal waivers: The Appraisal Subcommittee has reached out to the Network Coalitions and has requested appraisers to attend their upcoming meeting on appraisal waivers. Direct from the ASC announcement: ASC Special Meeting – April 12, 2018 Tuesday March 06, 2018 The ASC will hold a Special Meeting scheduled for 10:00 a.m. on April 12, 2018, at the Federal Reserve Board facilities at International Square, 1850 K Street NW, Washington, DC. The purpose of this Meeting is to consider the temporary waiver request from TriStar Bank of Dickson, Tennessee. The agenda for the Meeting will be posted...

Call to Action About Risky Appraisal Waiver Program 1

Call to Action Againt Risky Appraisal Waivers

Call Congress about Fannie/Freddie’s Risky Appraisal Waiver Program! VaCAP has received the following from the Appraisal Institute. Please contact your representative concerning Fannie and Freddie. Appraisers, Appraisal Organizations and NAR are all uniting to stop this. Make your voice be heard. Contact your representatives today. All, FYI — An action alert has been set up for appraisers to call their members of Congress relative to the GSE appraisal waiver issue. Click here to find the contact information of your member of Congress. Please let me know if you need assistance or have any questions. Bill Garber Director of Government and...

Residential Appraiser Abandoned & Neglected by the Appraisal Institute 111

AI Ignored the Residential Appraiser

AI all but abandoned the residential appraiser… I have been a member of the Appraisal Institute (AI) for many years and the organization has always been tilted toward the Certified General Appraiser. I am Certified General and recognized this long ago. I think the education of the AI is the best with no comparison for both residential and commercial and their publications are second to none. The AI has long neglected the residential appraisers as they sent in their $300 per year. The AI completely dropped the ball starting in 2007 when the crash began. The Appraisal Management Company (AMC)...

Clear Capital Push For Hybrid VA Appraisals 54

Clear Capital’s Push For Hybrid VA Appraisals

Clear Capital suggests that the VA consider the use of a desktop appraisal On April 4, 2017, the House Committee on Veterans Affairs held a hearing on “Assessing VA Approved Appraisers And How To Improve The Program For The 21st Century.” The hearing was designed to “assess VA’s current appraisal process, as well as specific difficulties for timely appraisals in highly rural areas”, as well as to investigate possible technological solutions to mitigate timeliness issues. Much of the hearing focused on two areas: The requirements for becoming a member of the VA appraiser panel, and the baseline requirements for comparable...

Eliminate the Appraisal Subcommittee too! Appraisal Institute Effort to Eliminate the ASC 38

AI’s Effort to Eliminate the ASC!

Refocused effort to eliminate the ASC… Why? It’s now much more than rumor. There is a concerted effort to eliminate not just the Appraisal Practices Board (APB) which was the Appraisal Institute’s original target, but now a refocused effort to eliminate the Appraisal Subcommittee (ASC) itself! Think about that folks. What started as a partisan effort to lay ground work for the eventual elimination of Dodd-Frank has quickly morphed into a behind the scenes opportunistic all out push to eliminate the ASC too! It’s no secret among regular Appraisal Institute (AI) members or non AI appraisers that have listened to...

APB Operations Suspended by The Appraisal Foundation (TAF) 6

TAF Suspends Most APB Operations

APB was based on the housing crisis of 2008… Appraisers, The news release below was issued on Jan. 26, 2017. I for one, appreciate what’s been done so far by the Appraisal Practices Board to help define and explain certain aspects of our work, and make those items available to anyone who wanted to download their advisories. I am also of the opinion that the initiation of the APB was one of the elements that lead to the Appraisal Institute resigning from The Appraisal Foundation, an action that was not entirely positive for AI members, or the ‘image’ of AI...

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