The Appraiser Qualifications Board (AQB) has distributed an online survey to licensed and certified real estate appraisal professionals as part of a practice analysis. The deadline to complete the survey is March 26, 2014 The purpose of the practice analysis is to identify tasks and competencies reflective of the real estate appraiser job role in order to update the examination content outlines for the AQB National Uniform Licensure and Certification examinations. The link to the survey is: https://www.surveymonkey.com/s/AQBSURVEY Participation is essential to the success of the practice analysis. This is a fantastic way for licensed and certified appraisers to give back to...
Competition, in a free market, is a fierce catalyst: one that can effectively sort out the bad apples from the bunch. Capitalism works, it is simple when left unfettered and when all parties are ethical in their approach to business. It works until politicians, however well meaning they try to be, step in with a”solution”. Through the Dodd-Frank reform and the Andrew Cuomo created Home Valuation Code of Conduct that predates Dodd-Frank, congress effectively went anti-small business again. I liken this profession’s recent undermining by congress to how they saw to sort out the small-family farmers by paving the way...
The 2014-2015 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available on-line. This edition of USPAP is valid for two years, effective January 1, 2014 through December 31, 2015. The new edition includes the standards of professional practice for all appraisal disciplines as well as guidance from the Appraisal Standards Board (ASB) in the form of USPAP Advisory Opinions and USPAP Frequently Asked Questions (FAQs), featuring a compilation of more than 300 questions and answers. To access the 2014-2015 USPAP on-line edition
Alternative Valuation Products and the Uniform Standards of Professional Appraisal Practice The Appraisal Foundation has drafted a white paper on Alternative Valuation Products and the Uniform Standards of Professional Appraisal Practice (USPAP). The white paper is intended to provide information to assist appraisers, users of appraisal services, and others, with a greater understanding of Alternative Valuation Products and their use in the marketplace. The paper also attempts to view these products in light of an appraiser’s USPAP obligations. All interested parties are encouraged to comment in writing before the deadline of December 31, 2013. Send comments to TA…@appraisalfoundation.org. Introduction In...
Late yesterday afternoon a bill was introduced in the House of Representatives that would alter the mortgage process and ultimately the way millions of Americans receive a mortgage. HR 1108 would eliminate the need for an appraiser to appraise a home prior to the funds being disbursed to the
Potential changes and additions to USPAP On February 1, 2013, the Appraisal Standards Board (ASB) adopted modifications to the Uniform Standards of Professional Appraisal Practice (USPAP). This action was the culmination of a period of 15 months and multiple discussion drafts, requests for comments, and three exposure drafts. Written comments were received in response to each document, and oral comments were provided at each public meeting. The ASB read and carefully considered every comment, developed a work plan to address the issues brought forward, and adopted revisions for the 2014-15 edition of USPAP. 1. Revisions adopted for 2014-15 USPAP The following...
John Brenan, The Appraisal Foundation, and Melissa Cohn, The Manhattan Mortgage Company, discuss on CNBC, whether the home appraisal system is broken after the Dodd-Frank Act. …complaints are skyrocketing and many appraisers are getting low or even failing grades now. Why is this happening?
The Uniform Standards of Professional Appraisal Practice (USPAP) is always a work in progress. If you haven’t heard, the Appraisal Standards Board (ASB) is hard at work considering potential changes for the 2014 –’15 edition. On Aug. 15, 2012, the Board released a second exposure draft covering these proposed changes. The ASB’s work plan for the 2014-’15 edition of USPAP includes reviewing and revising as needed the following areas of USPAP: Reporting and Communication Requirements Reporting Options Retirement of Standards 4 and 5 Other revisions and additions as needed to ensure clarity and relevance The deadline for comment on this...
Third Exposure Draft of the Proposed Changes for the 2014-2015 Edition of the Uniform Standards of Professional Appraisal Practice The goal of the Uniform Standards of Professional Appraisal Practice (USPAP) is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. With this goal in mind, the Appraisal Standards Board (ASB) regularly solicits and receives comments and suggestions for improving USPAP. Proposed changes are intended to improve USPAP understanding and enforcement, and thereby achieve the goal of promoting and maintaining public trust in appraisal practice. The ASB is currently considering changes for...
AQB Issues Proposed Supervisory Appraiser and Trainee Appraiser Course Objectives and Content Outline The goal of the Real Property Appraiser Qualification Criteria (Criteria) is to promote and maintain a high level of public trust in appraisal practice by establishing minimum education, experience, and examination requirements for real property appraisers. On December 9, 2011, The Appraiser Qualifications Board (AQB) adopted changes to the Criteria that will become effective January 1,2015. These changes represent minimum national requirements that each state must implement no later than January 1, 2015. One of the changes adopted by the AQB requires that both Supervisory Appraisers and...
