Tagged: American Society of Appraisers

AMC Rules Inconsistent with Congressional Intent - Banking Agencies

June 18, 2014

Agencies AMC Rules Lack Guidance

Banking Agencies are Told Proposed AMC Rules Fall Short on Guidance In comments filed June 6 with several federal banking agencies, the American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers expressed our concerns that rules proposed to regulate appraisal management company (AMC) conduct lack sufficient detail to allow for effective implementation. Additionally, the organizations expressed concern that some provisions of the proposed rule depart from Congress’s intent when the enabling law was included in the Dodd-Frank Act, and could negatively affect the overall public policy goals. In the comment letter, ASA and NAIFA cover numerous...

AMC / American Society of Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

January 8, 2014

2014-15 USPAP Modifications Released

2014-15 modifications to USPAP become effective 1/1/2014 In preparation of the new 2014-15 modifications to USPAP effective January 1, ASA’s Ethic’s Committee has prepared a brief summary outlining the modifications. The Appraisal Standards Board (ASB) 2014-15 modifications to USPAP become effective January 1, 2014. These modifications include: Revisions to the DEFINITIONS of “Assignment Results” and “Scope of Work” — Based on comments received, there was a need to clarify the definition of ‘Assignment Results.’ In an appraisal assignment, assignment results currently include more than just the appraiser’s opinion of value, as the appraiser is responsible not only for the opinion...

American Society of Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASA

May 10, 2013

Response to "A Wakeup Call for the Valuation Industry: Is anybody listening?"

RE: Richard Gilmore, ARA article – "A Wakeup Call for the Valuation Industry: Is Anybody Listening?" I would like to offer some comments regarding Mr. Gilmore’s article in the April 9, 2013 issue of Ag News. I also read most of the NAHB report – "A Comprehensive Blueprint For Residential Appraisal Reform" dated February 2013. I disagree with most of Mr. Gilmore’s comments regarding the NAHB report. The NAHB report lacks a realistic understanding of what is taking place in the real estate appraisal profession today. Most of what is commented on in the NAHB report has been required and/or in place for more...

AMC / American Society of Farm Managers and Rural Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

April 18, 2013

ASA Letter Opposing Bill A3781

Letter from ASA Opposing Bill A3781 Abolishing the NJ State Appraisal Board and Transferring Control to the Real Estate Commission Assemblyman Giblin: The American Society of Appraisers (ASA), the largest multidisciplinary professional appraisal organization in the United States, is writing to express strong opposition to Assembly Bill 3781, which would abolish the New Jersey State Real Estate Appraiser Board and transfer the regulatory oversight of appraisers to the State Real Estate Commission. This bill would weaken the overall regulatory scheme applied to real estate transactions and its myriad parties at a time when new federal and federally-mandated state regulations are...

AMC / American Society of Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

January 4, 2013

ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline

The establishment of an appraisal complaint hotline… The American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA) appreciate the opportunity to jointly comment on the Paperwork Reduction Act implications of the establishment of the Appraisal Complaint Hotline system mandated by section 1473 of Dodd-Frank. Although we understand that the public will have an opportunity to comment on the appraisal complaint form itself when it is proposed (described as “the Interagency Appraisal Complaint Form”), we believe the agencies’ October 22nd Federal Register request for comment provides our organizations (and other stakeholders) with an important opportunity to...

American Society of Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

July 24, 2012

Appraisal Practices Board: A Free Resource for Appraisers

The genesis of the Appraisal Practices Board was the collapse of the housing market in 2008… Congressional Hearing Provides Opportunity to Clarify Purpose – FOR IMMEDIATE RELEASE June 29, 2012. Washington, DC – The Appraisal Foundation (TAF), a non-profit education organization dedicated to professional valuation, testified yesterday before the U.S. House of Representatives, Committee on Financial Services, Subcommittee on Insurance, Housing and Community Opportunity. The hearing, entitled Appraisal Oversight: The Regulatory Impact on Consumers and Businesses, focused on the Appraiser Regulatory System in place today and whether there is need for modifications or improvement of this system. One issue discussed...

AI / American Society of Appraisers / APB / Appraisal / Appraisal Institute / Appraisal News