Category: The Appraisal Standards Board

2022 7hr USPAP Update Course 0

2022 7hr USPAP Update Course

Appraisers, if your license renews in 2022, you will need to take the ‘new’ USPAP 7hr Update course. See below. The Update class you have already taken for the 2020-21 book, which has been extended to Dec. 31, 2022, cannot be used for CE credit again. However, I’m somewhat confused as to the effective dates of this ‘new’ Update class. It says “2022-23” which implies it will be valid through the end of (or into?) 2023. But the ‘current’ USPAP is presently undergoing Exposure Drafts for the proposed changes, which will be effective as of Jan. 1, 2023.  Normally, the Update...

USPAP 2020-2021 Extension Effective Through 2022 - Appraisers Blogs 4

USPAP 2020-2021 Extension

2020-21 USPAP Extension – Does this mean USPAP will be on a three-year cycle going forward? USPAP has been extended for one year, effective through December, 31, 2022. This is the Appraisal Foundation news release, issued on Feb. 19, 2021: Media Contact: Amy Timmerman (202) 624-3048 amy@appraisalfoundation.org BREAKING: 2020-21 USPAP Extended for One Year (Washington, DC) February 19, 2021 – The Appraisal Foundation’s Appraisal Standards Board (ASB) announced today that the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) will be extended by one year. The 2020-2021 USPAP will now be effective until December 31, 2022. “USPAP...

Future Changes in USPAP 2022-23 - Time to Quit the Constant Changes 11

Pending Future Changes in USPAP 2022-23

The Appraisal Foundation / Appraisal Standards Board have released the 4th Exposure Draft to the FUTURE version (2022-23) of USPAP. I, like so many other ‘stakeholders’ and appraisers, have grown weary of the incessant Exposure Drafts and updates to our mandated PROTOCOL MANUAL, which for many years has been massaged and modified in various ways every 2 years. Largely because new members cycle onto the ASB every year or two. The constant updates has resulted into a continuing cash cow for the Appraisal Foundation / Appraisal Standards Board. But in actual use, that should not happen because USPAP is codified...

Standards Rule Proposed Revision Undercutting the Appraisal Profession 7

Undercutting the Appraisal Profession

Proposed Revision to STANDARDS RULE 2-2…a change that would undercut the appraisal profession in a major way… Comments on the proposed changes to the 2022-23 USPAP are needed. The proposed changes to the reporting requirement of Standard 2 may impact the profession negatively and confuse the public on who we are and what we do. We ask that each and every one of you pause for a moment and comment by July 30th. Below is what was sent out to the Arizona Association of Real Estate Appraisers by Joanna Conde. Virginia also requires anyone using the title appraiser, be licensed....

Lenders Want to Eliminate DTI Cap! What Could Go Wrong? 20

Lenders Want to Eliminate DTI Cap!

No DTI CAPS – What could go wrong? Well, the insanity continues. HousingWire is reporting that a coalition of lenders and trade groups are calling on the CFPB to eliminate the debt to income cap on all qualified mortgages. Yes, you read that right. Lenders want to eliminate the debt to income cap to allow more loans to be originated. They claim by using alternative factors to determine risks, more low income borrowers can obtain a mortgage. Mortgage Bankers Association President and CEO Robert Broeksmit stated: With respect to the 43% DTI threshold, it makes little sense to commit to a rigid requirement...

Evaluations Concept Paper, Bringing Evaluations Under USPAP Umbrella 5

Bringing Evaluations Under USPAP’s Umbrella

Evaluations: Concept Paper, Webinar, Public Meeting In early August, The Appraisal Foundation announced that the The Appraisal Standards Board would be considering adopting standards for evaluations in the Uniform Standards of Professional Appraisal Practice (USPAP). On September 3, 2019, they announced three opportunities to learn more and share your insights. Concept Paper The Appraisal Standards Board is seeking your feedback on the concept of developing standards for performing evaluations in USPAP. Submit your comments to ASBcomments@appraisalfoundation.org. The comment period closes on October 11, 2019. Read the evaluations concept paper here Webinar Wayne Miller, chair of the Appraisal Standards Board, and...

We Need Pat Turner, The Gladiator Appraiser - Call to Action 5

The Gladiator Appraiser, Pat Turner

Regulatory reform is needed in the appraisal profession and Pat Turner is the right appraiser to help move it forward! This is a CALL TO ACTION. Please listen to Phil Crawford’s Voice of Appraisal Show released yesterday morning. He has put out a call to action to every appraiser to write a letter of recommendation for VaCAP President Pat Turner to be appointed to the Appraisal Standards Board: Time to stand up again! Pat Turner, “The Gladiator Appraiser”, from the Great Commonwealth of Virginia has applied for a position on the Appraisal Standards Board at The Appraisal Foundation! Now more...

Competitors on State Appraisal Boards - NSAO Supports HR 3619 6

Competitors on State Appraisal Boards

Phil Crawford has a new Voice of Appraisal show. This is one of the best shows Phil has ever done. He touches on issues with Bifurcation, Board competitors and even mentions VaCAP and our “Other Side of Things” article that received a lot of attention on Appraisers Blogs last week. Phil encourages support for VaCAP President Pat Turner to be appointed to the Appraisal Standards Board. The show is 36 minutes, so please take the time to listen. You might even get a good laugh out of some of the humor displayed. Listen to the show below. Board Competitors? VaCap,...

USPAP or Not Mueller REO report 36

Mueller REO Hybrid Appraisal Report

Another Mueller Report has surfaced. The report is a Mueller REO Hybrid Appraisal Report and it was given to an appraiser as a sample. This one raises more questions than the last one! The photos from the property inspection do not tell the appraiser one thing. The photos are dark and the repairs the inspector states are needed, simply are not seen in the photos. It begs the question, does the appraiser have adequate information to complete a credible appraisal? Now take a look at the Mueller REO Hybrid Appraisal report. Pull up the report and follow along. Some things have...

Another Draft to a USPAP Draft! Everyone Should be on Their Toes... 13

Another Draft to a USPAP Draft!

Well, don’t toss your reading bifocals in the wastebasket just yet. Apparently, there were so many negative issues with the THIRD exposure draft to the 2020-21 version of USPAP, that the ASB jettisoned it, and will move forward with a FOURTH draft. Everyone should be on their toes, ready to peruse this stellar document when it is released not long from now! Can’t we, please, establish a set of reliable and understandable procedures, and leave them in place for 5 years minimum? Please! Here’s the announcement issued on February 8, 2019, after the ASB meeting in Scottsdale, AZ: (From the Appraisal Foundation)...

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