Tagged: Exposure Draft

Appraiser Qualification Board Moving Like a Turtle 16

Appraiser Qualification Board Moving Like a Turtle

Appraiser Qualification Board moving like a turtle in solving how to get more people into the appraisal profession. I recently returned from a trip to Maui, Hawaii. While there, we saw two beaches where the ‘famous’ green sea turtles were lounging around during the day. Kinda reminded me of how slowly the Appraiser Qualification Criteria (AQB) is reacting to the near shut-off in getting new and younger people into our business. The AQB didn’t take real constructive action at their Nov. 18, 2016 public meeting, but they did provide this riveting synopsis of what they did do during the meeting:...

STOP the Idiotic Constant Parsing Changes in All Areas of USPAP 14

It’s Time to STOP the Foolishness

STOP the constant parsing changes in all areas of USPAP I encourage ALL appraisers in the DC Metro area to attend the upcoming ASB Public Meeting on October 21, 2016. In a nut shell, my strong belief is that they need to STOP the constant parsing changes in all areas of USPAP. NOT ONE of the proposed changes is a necessary change. NOT ONE! No wonder state regulators no longer comprehend USPAP! If they need the extra money that selling new versions of USPAP produces, then just CHARGE US DIRECTLY! The purpose of FIRREA was to preserve the public’s trust...

AQB Experience Requirements and College Degree Requirements Changes 24

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...

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,...

2016-17 USPAP changes 0

USPAP 2016-17 Summary of Changes

2016 – 17 USPAP Updates & Revisions Appraisers, On Feb 6, the Appraisal Standards Board finalized the upcoming changes to the next issue of USPAP. See the PDF for the actual document. The highlights are: Revisions adopted for 2016 – 17 USPAP The following changes were adopted by the Board in a public meeting on February 6, 2015, and will be incorporated in the 2016 – 17 edition of USPAP and associated guidance material with an effective date of January 1, 2016: Revisions to the RECORD KEEPING RULE Revisions to STANDARD 3 Revisions to the Definition of Assignment Results and Confidential Information and...

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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...

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Proposed 2016-17 USPAP Changes

Comments Requested for Additional Proposed Changes to USPAP 2016-17 USPA The Appraisal Foundation’s Appraisal Standards Board has issued a third exposure draft of proposed changes to its 2016-17 edition of the Uniform Standards of Professional Appraisal Practice, and is seeking feedback on the proposed changes by Oct. 10. Among the proposed changes is an adjustment to the definition of report, which currently is defined as “any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client upon completion of an assignment.” The proposed definition would read “Any communication, transmitted to the client or to...

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…

Confidential Information Sharing with Another Appraiser & USPAP 1

Is Sharing a Report with a Fellow Appraiser a Violation of USPAP Confidentiality?

Appraisers routinely share confidential information & communicate assignment results with other appraisers Appraisers frequently are faced with chances to make mistakes related to confidentiality. The Confidentiality Section of the ETHICS RULE of Uniform Standards of Professional Appraisal Practice (USPAP), as published by the Appraisal Standards Board (ASB) of the Appraisal Foundation and enforced by the North Carolina Appraisal Board, provides the rules for appraisers in North Carolina. Appraisers often are reminded about and advised how to avoid the pitfalls of communicating with property owners, real estate brokers, lenders (other than the client), and other related parties. However, an additional problem...

2014-15 USPAP Modifications 3

Appraisal Institute Discusses 2014-15 USPAP Updates

2014-15 USPAP updates In the organization’s latest YouTube video, the Appraisal Institute invited Paula Konikoff, JD, MAI, chair of the Appraisal Institute’s Professional Standards and Guidance Committee, to discuss 2014-15 USPAP updates, including the process the Appraisal Standards Board used to adopt the latest edition of USPAP, the new Report Options that will be part of the 2014-15 edition of USPAP, and other changes made that might impact appraisers. The Appraisal Standards Board adopted the 2014-15 edition of the Uniform Standards of Professional Appraisal Practice, commonly known as USPAP, in February of 2013. Beginning in early 2012, the ASB released...

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