Tagged: VaCAP

An Appraiser's Response to LandSafe Appraisal Services Agreement 9

An Appraiser’s Response to LandSafe Appraisal Services Agreement

In April of 2011, LandSafe Appraisal Services, a wholly owned subsidiary of Bank of America, released its “Appraisal Services Agreement” which included, among others, indemnifications of LandSafe Appraisal Services against any liability, and loss of intellectual rights. Many appraisers stood firm and refused to sign the agreement. Heather Fox, a Certified Residential Appraiser in Virginia, CEO of Cross Country Appraisal Inc. and President Elect of VaCAP, responded to LandSafe Appraisal Services with this letter: To: Landsafe Vendor Panel Management Team I will not be signing the appraiser agreement. I have known I would not sign this agreement since the moment...

AppraisersLoft fined 1

VaCAP letter to AG Cuccinelli RE Violation of Virginia Code

The mandates override the Virginia Code Re: Impending Violation of Virginia Statute 18 VAC 130-20-160. Dear Attorney General Cuccinelli, There is an extremely urgent and important matter that the Virginia Coalition of Appraiser Professionals (VaCAP) wishes to bring to your attention. The Government Sponsored Enterprises (GSEs), which are The Federal National Mortgage Association (FNMA) and The Federal Home Loan Mortgage Corporation (FHLMC), have mandated Real Estate Appraisal reporting requirements that will severely compromise the integrity of information provided in appraisal reports and potentially eliminate the private appraisal profession. This new, comprehensive format will cause unnecessary risk and expense to the...

Negative Repercussions of HVCC & Dodd-Frank Act - VaCAP 3

Negative Repercussions of HVCC & Dodd Frank Act – VaCAP

Virginia Coalition of Appraiser Professionals (VaCAP) Letter to Senator Warner Addressing the Negative Repercussions of HVCC and Dodd Frank Act Dear Senator Warner: In response to the devastating effects of the legislative changes that have crippled the appraisal profession and undermined the quality of appraisals, appraisers throughout Virginia have joined together to educate the public, raise consumer awareness, protect appraiser independence, and work toward effective legislation that will benefit us all. We have now formed the Virginia Coalition of Appraiser Professionals (VaCAP). VaCAP appreciates this opportunity to present to you the position of appraisers across the state regarding federal legislation as it...

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