Tagged: VaCAP

Stop Senate Bill 2155 in the Senate, Fake Claim of an Appraisers Shortage

March 5, 2018

Stop S.2155 in the Senate

Call to action to oppose Senate Bill 2155, also opposed by an overwhelming majority of Americans… Appraisers, We are placing an immediate nationwide call to action to oppose Senate Bill 2155 currently in the United States Senate. Senate Bill 2155 has a provision, (sec 103) which allows a bank to waive an appraisal in rural communities. This will be detrimental for homeowners and communities in rural areas. A loss of income will also occur for appraisers who cover rural counties. To see the text of S.2155, click here. The Independent Community Bank Association has been hard at work promoting this bill....

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Customary & Reasonable Fees / Dodd-Frank Act / C&R Fees

February 27, 2018

Price Fixing? Why is the FTC Involved at All?

FTC "Price Fixing" Allegations Hearing Update On Thursday, Feb 22, 2018 there were oral arguments presented in the Federal Trade Commission building at 2 pm. The meeting adjourned just before 3:30 pm. There were 55 to 65 people in attendance, which we were told is an extraordinarily larger crowd than typical. This is a very unique case. On the FTC side there were two lawyers – one male, one female. On the Louisiana side there were four males at the head counsel table and three or four other attorneys. I have never attended one of these hearings, so I really did...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Fraudulent Appraisals Class Action Lawsuit, LREAB Oral Argument...

February 21, 2018

Better Than Your Favorite Band’s Concert!

This will be better than your favorite band’s concert! Watch the oral arguments in the FTC vs LREAB case live in Washington DC on Thursday February 22, 2018! “The Federal Trade Commission (“FTC” or "Commission") will meet on Thursday, February 22, 2018, in Room 532 of the FTC Building for an Oral Argument In the Matter of Louisiana Real Estate Appraisers Board. The public is invited to attend and observe the open portion of the meeting, which is scheduled to begin at 2:00 p.m. The remainder of the meeting will be closed to the public ” VaCAP will be there...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / LandSafe / Louisiana Real Estate Appraisers Board

February 13, 2018

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...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Bill Removes Consumer Protection and Legalizes Bad Behavior by AMCs

February 3, 2018

Legislative Call to Action

Bill removes consumer protection and legalizes bad behavior by AMCs. Now is the time to contact your legislators with comments. They want to hear from you! HB 1453 – Changing the definition of evaluations – has passed the General Laws Committee and was read in the House of Delegates on February 1, 2018 for the first time. SB 655 – Capping fees of an AMC to 20% and disclosing the AMC fee to the consumer – is on the agenda for Monday February 5th in the General Laws and Technology Committee. Please contact your representatives and the committee members and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

January 24, 2018

Call to Action

Three bills introduced concerning our profession… Fellow Appraisers, The 2018 Virginia General Assembly has begun and there are three bills that have been introduced concerning our profession. VaCAP is not behind any of these bills and we honestly do not know how they came about. We were truly blind-sided by them. We ask that you contact your representatives and offer your support, opposition and suggestions. It is also a good idea to contact the committee members that will be discussing and voting on each of these bills. We will continue to follow the bills and alert you when they appear...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

January 14, 2018

Cap on AMC Fees

Cap on AMC fees & Compensation Disclosure… VaCAP was informed of Senate Bill 655 introduced on January 10, 2018 in the General Assembly by Senator McPike. The bill limits the amount an AMC can charge a consumer for their services at 20% and also requires the AMC to disclose the amount charged for their services. We do not know who is behind this bill, but we thank Senator McPike for introducing it. We will share more information as we obtain it. See the bill here or below. BILL to amend the Code of Virginia by adding a section numbered 54.1-2022.2,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

January 13, 2018

Maryland AMC Legislation Introduced

VaCAP has been asked by our neighbors in Maryland to help promote their AMC legislation. HB 64 was introduced into the General Assembly by Delegate Michael Jackson on January 10, 2018. The bill reduces the amount of time an AMC has to pay an appraiser from 60 days to 30 days. The current language of the bill is as follows: Article – Business Occupations and Professions (a) Except in cases of breach of contract or substandard performance of services, an appraisal management company shall pay an appraiser for the completion of an appraisal or valuation assignment within [60] 30 days...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Valuation Partners & Schizophrenic AMCs vs. Appraisal Professionalism

January 8, 2018

FTC & REVP vs LREAB Bombshell

Like many other appraisers I received a copy of paperwork filed in conjunction with the Louisiana Real Estate Appraisers Board / FTC and Real Estate Valuation Partners (REVP) aka Valuation Partners. (Thank you VaCAP!) To me it’s a bombshell, but before I go into the story of who did what to whom, and for how much let’s start off by asking all readers to click this link to see who the players are. Even if you read the article elsewhere please read the following link. Got it? Great. Just so we are clear, one of the Chief players appears to...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

January 4, 2018

What is Real Estate Valuation Partners Hiding?

In the case of the FTC vs Louisiana Real Estate Board, Real Estate Valuation Partners (REVP) was issued a subpoena by Louisiana to provide some documents. They have filed a motion to quash the subpoena and not provide documents. When you read through the 11 page document, and we highly recommend you do, it appears REVP is hiding crucial documents that may be incriminating to themselves and other appraisal management companies. There are 12 specific items being requested. Take a look for yourself here. It is very telling! b. Requests No. 4, 5, 6, and 11 ask for REVP’s internal...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News