Tagged: Appraiser Qualifications Board

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...

AQB Experience Requirements and College Degree Requirements Changes 25

AQB Proposes Alternative to College Degree Requirement

In a long-awaited and highly anticipated announcement, the Appraisers Qualifications Board (AQB) has just released an Exposure Draft (May 18) that indicates it intends to walk back the bachelor’s degree requirement for Certified Residential appraisers and more. The AQB also is proposing significant changes to appraiser experience requirements. An AQB Exposure Draft is issued in anticipation of implementing changes to the Real Property Appraiser Qualification Criteria (Criteria), which is the set of education, experience, and examination requirements for appraisers to achieve a state license or certification. The AQB always sets a comment deadline and is committed to reading and considering...

Experience, Education Criteria Input Request & AGA Open Letter 18

AGA Open Letter Regarding Changes to the Criteria

Request for Appraiser Input The AGA sent the below letter to the AQB in response to their outreach asking for comments. Please write them and tell them YOUR views. If you agree with what we have said, then just copy it and add your name to it saying “we agree”. Or don’t copy it, and just say “We agree with the AGA letter”. If there are any significant parts you disagree with, then please ‘except’ those. If you have additional thoughts or suggestions for them (civil ones), feel free to add them. I’ve already received an acknowledgement so I KNOW...

The Decline of Appraisers 26

The Decline of Appraisers

The problem is not simply that too many appraisers are retiring. Very few appraisers are entering the profession. In Illinois, the drop in real estate appraiser trainee applications went from 1,231 in 2005 to only 55 in 2015. That’s an over 95 percent decline. This drastic reduction in new entrants is being seen in states across the country. Many appraisers welcome the shortage, which has already driven up fees in many areas. But many believe the celebration is shortsighted. A decline in the number of appraisers threatens the integrity of lending and undermines the stability of the real estate market…

Number of Appraiser Trainees Applications Tell a Story 35

Number of Applications Tell a Story

Applications plummeted another 74% Recently the AQB held a public hearing in Washington DC regarding Alternative Experience Requirements and what to do about the anemic number of appraisers nationwide. I read their concept paper when it came out and I’ve read the testimony of those who submitted ideas. I didn’t attend and I didn’t offer up any written solutions. Back in 2005, I remember when everyone was so fired up about finally raising the bar, insomuch as formal education was concerned. They were going to make appraisers in the image of CPAs and lawyers. Four year degrees would be the...

Calling on Licensed & Certified Residential Appraisers - Be the Change - Imagecredit Flickr - Simon Greening 0

Calling on Residential Appraisers

Calling on Licensed & Certified Residential Appraisers Appraisers, The Appraisal Foundation seeks candidates for its Boards. We need a diversity of ‘license types’ to serve on these Boards. Your service time and travel expenses are covered. I just completed an analysis for the current members on the Appraiser Qualifications Board. Individually, they are all nice and very qualified people, but they are ALL Certified General appraisers. In the US there are fewer CG’s than there are License or Certified Residential appraisers. The composition of the AQB has been largely dominated by CG’s for years. These are the folks who have mandated...

Appraiser Background Check Requirements 9

Appraiser Background Check Requirements

The info below from AI’s Appraiser News OnLine is about the action taken by the AQB at their recent meeting in Seattle, WA, which I was unable to attend. It’s still unclear if “existing license holders” must undergo a background check at the time of their license renewal. Apparently that’s determined by individual states. And it’s still difficult to get all the multiple clients appraisers deal with, to accept “one” background check performed in a state or by a separate organization. So appraisers are sometimes faced with having to spend money to provide different background checks to individual clients. Frankly,...

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AQB Proposed Background Checks Focus on ‘Public Trust’

The Appraiser Qualifications Board of The Appraisal Foundation on Dec. 2 released a new exposure draft of proposed revisions to the 2015 Real Property Appraiser Qualification Criteria. Among the revisions is a requirement that all applicants for real property appraiser credentials have a background that does not call into question public trust. To meet that requirement, applicants must provide state appraiser regulatory agencies with all information and documentation necessary for a jurisdiction to determine an applicant’s fitness for licensure. An applicant will not be eligible for an appraiser credential if they have been convicted of or pleaded guilty or nolo...

Fannie Mae re-evaluate appraisers adjustments 1

Fannie Re-Evaluating Your Adjustments & VA Hiring Appraisers

Fannie Mae’s Murphy stated that over the past year, the GSE had been focusing on “quality” and “condition” ratings of comps used in multiple appraisals by the same appraiser and found many cases where the appraiser has changed the quality and/or condition ratings on the same comparable from appraisal to appraisal. Now, based on the examination of the Uniform Appraisal Dataset (UAD) data, Fannie Mae’s focus for the next 12 months will be on adjustments. The data indicates that many appraisers are not using…

The Appraisal Profession & Appraiser's Business Decimated by the Increasing Dominance of Appraisal Management Services - AMCs 15

Appraisal Profession Decimated by Appraisal Management Services

The Appraisal Profession & Appraiser’s Business Decimated by the Increasing Dominance of Appraisal Management Company Services (AMCs) For the past two months, VaCAP has participated in a networked council consisting of 13 professional state appraisal organizations in responding to the Agencies request for comments of the Proposed Rules on Minimum Requirements for Appraisal Management Companies: Dear Agencies; This letter is in response to the Agencies’ request for comments on the Proposed Rules on Minimum Requirements for Appraisal Management Companies. The undersigned represent a networked council of professional state appraisal organizations. We appreciate this opportunity to comment and thank the Agencies for...

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