ASC Wants to Make USPAP Free!

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ASC Wants to Make USPAP FreeThe ASC Wants And Has The Funds To Make USPAP Free! And More!

This press release is seismic for appraisers so please read it:

Press Release: Appraisal Subcommittee (ASC) Board Approves Fiscal Year 2022 Budget of $9M including nearly $5M in Grant and Technical Assistance Funding

With the context of TAF’s bat-shit crazy letter, here are some key changes in the relationship between TAF and ASC:

ASC wants USPAP to be free, enable diversification of the ASB and AQB which are NOT diversified and never have been and they want to study alternatives to the insanely wasteful two-year USPAP update policy.

$1M in grant funding was made available to the Appraisal Foundation. These funds could be used to defray the costs of the Appraisal Standards Board (ASB) and Appraiser Qualifications Board (AQB) and for additional projects such as providing trainees and credentialed appraisers with a free or reduced cost copy of Uniform Standards of Professional Appraisal Practice (USPAP), diversification of their Boards, and studies of the current Appraisal Foundation revenue model.

The “review and monitoring” authority ASC was given in Title XI was clarified so they could continue to “monitor and review.”

Additionally, there were revisions to the policy on monitoring and reviewing the Appraisal Foundation. ASC staff will attend public meetings as observers of the AQB and ASB as well as the Board of Trustees. ASC staff will be available for these meetings on an as-needed basis and will continue to provide written public comment on the Appraisal Foundation’s work product.

 

Jonathan Miller
Latest posts by Jonathan Miller (see all)
Image credit flickr - Jeramey Jannene
Jonathan Miller

Jonathan Miller

Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts.

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5 Responses

  1. Avatar Barry says:

    Nothing more outrageous than having to pay money every two year for a USPAP course, because 0.5% of USPAP has been updated. Just e-mail us the updates, and we’re good.

    9
  2. Avatar Dave says:

    Barry, you be correct! Just another money maker off we lowly appraisers along with the upload fees we have to pay.

    8
  3. Avatar DianaN. says:

    I’m all for that, heaven knows it costs us enough for all the other courses we have to take. Would like to have back all the $$ over the years for both Appraisal and Brokers courses.

    10
  4. All I can say is it’s about TIME!!!

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  5. Baggins Baggins says:

    The bat shit crazy letter, again! LOL. It is worth the read, and quite hilarious. Emphasis with finger wagging! Oh, authoritarianism, love it or leave it. Lot of that going around lately.

    My vote is for the uspap ethics class to cost a fortune, so all these unlicensed people will be forced to stop claiming they understand ethics because their employer ran them through a 2 day class. Over half of all licensing focus should be on ethics, a fixed ethic based on morality, one which does not need, nor should be changed, except for special session and special circumstances which may arise. The living document approach is counter productive.

    Hey, does anyone know what the uspap markup is? How much are they really spending to get each printed book, vs how much we are charged? I’m just thankful they still issue it in paper book form.

    2

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ASC Wants to Make USPAP Free!

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