Call to Action
Three bills introduced concerning our profession…
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 on the committee dockets.
You can locate your representatives here.
HB 1506 – This bill was introduced by Delegate Richard Bell. The bill changes the definition of appraisal management company and removes the independent contractor language. This bill will be discussed and voted on by the General Laws Committee. To contact members, click here.
HB 1453 – This bill was introduced by Delegate Lee Ware. The bill changes the definition of evaluation. This bill will be discussed and voted on by the General Laws Committee. To contact members, click here.
It should be pointed out that Virginia Statute currently requires the AMC to be paid by the lender, which we all know is not happening. As a suggestion to pass along to your representative, remove the portion of the bill that caps the AMC fee and replace it with a requirement the AMC hold consumer funds for appraisal services in an escrow account. This bill will be discussed and voted on by the General Laws and Technology Committee. To find members, click here.
As we are notified when these bills will be on the docket of the committees, we will pass along this information and request all appraisers attend and voice your opinions and suggestions at the committee meetings.
Thank you for supporting VaCAP!