Tagged: ASA

ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline 1

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

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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

Appraisal Oversight Hearing 0

Hearing on Appraisal Oversight: Impact on Consumers

“Appraisal Oversight: The Regulatory Impact on Consumers and Businesses” Hearing Frank Gregoire, a a state-certified residential appraiser in Florida, will testify on behalf of the National Association of REALTORS® (NAR) before the House Financial Services Committee’s Insurance, Housing and Community Opportunity Subcommittee on Thursday, June 28th. The hearing will focus on the appraisal industry and regulations impacting consumers and businesses. Mr. Gregoire holds the RAA Designation, is a two-time Chair of NAR’s Appraisal Committee, and has been active in NAR’s public policy committees since the early 1990s. Mr. Gregoire is on Panel II of the hearing. WITNESS LIST Panel I...

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

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TAF Response RE Gag Rule

TAF Response to Columbia Institute eVIP Appraisal News April 6, 2012, Mr. George Harrison, The Columbia Institute Dear Mr. Harrison: This is regarding an item that appeared in the “Ask George” column in the April 2 edition of eVIP Appraisal News. The question and answer relates to Appraisal Sponsors of The Appraisal Foundation apparently being under some type of constraint regarding freedom of expression. You have made a similar claim in a previous column and we thought that it was time to correct the record. You state that “The Appraisal Foundation has a restriction clause – gag rule – in its...

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

The Louisiana Real Estate Appraisers Board Holds the First Hearing for AMC’s Not Following the Laws and Rules for Determining Minimum Reasonable and Customary Fees - Imagecredit Flickr - GotCredit 0

CFPB Appraisal Fees

ASA has repeatedly stated its belief that the Fed’s interpretation and the massive loophole it created ran contrary to the plain language and clear intent of Dodd-Frank. CFPB Reissues Interim Final Rule On Valuation Independence, Eliminates Federal Reserve Commentary Permitting AMCs To Include Their Own Payments To Appraisers To Comply With Dodd-Frank’s Customary and Reasonable Fee Requirement. On December 22, the Consumer Financial Protection Bureau (CFPB) released an Interim Final Rule dealing with the valuation independence requirements imposed by the Dodd-Frank Act, including the law’s “customary and reasonable” fee mandate. The CFPB’s rule was republished to reflect the transfer of...

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

Computerized Appraisals Win in HARP 2.0 0

Computerized Appraisals Win in HARP 2.0

Sanctioned use of computerized appraisals using algorithms and computerized databases of property data to determine a property’s value. The federal government, with the reluctant support of the two leading professional appraisal organizations, has sanctioned the use of computerized, appraisals using algorithms and computerized databases of property data to determine a property’s value. Can more widespread use of computer-driven valuations by programs called Automatic Valuation Models or AVMs, in mortgage origination be far behind? Millions of homeowners use AVMs to check the value of their homes on a half dozen web sites. Even though more sophisticated versions have been developed for...

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

NAIFA & ASA Concerned about HARP Reliance of AVMs 0

HARP Reliance of AVMs Concerns

ASA and NAIFA Send Joint Letter to FHFA, Fannie Mae & Freddie Mac Expressing Concerns on HARP Program Reliance of AVMs and Requesting a Meeting On October 25, the American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA) submitted a joint letter in response to yesterday’s announcement by the FHFA and the Government Sponsored Enterprises (GSEs) of changes to the Home Affordable Refinance Program (HARP) involving greater reliance on automated valuation models (AVMs) to value collateral property. In the letter, ASA and NAIFA expressed concerns regarding the GSEs quality control standards being used to ensure...

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

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