Tagged: Political Action

Modernizing Appraisals: It seems we're stuck in 1989. 46

Modernizing Appraisals & Being Stuck in 1989

Modernizing Appraisals: It seems we’re stuck in 1989… On November 16, 2016, the Housing and Insurance Subcommitte held a hearing on “Modernizing Appraisals: A Regulatory Review and the Future of the Industry.” Subcommittee discussed modernizing appraisals to benefit American consumers. The hearing focused on necessary changes to the appraisal industry. Subcommittee Chairman Blaine Luetkemeyer (R-MO) explained: “Appraisals are one of the cornerstones of the home-buying process. Issues that impact appraisers also impact nearly every American buying or selling a home, in rural and urban areas; in high- and low-income neighborhoods. Yet when it comes to the regulatory regime surrounding appraisals,...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Expert Witnesses Don't Include Appraisers - You Are NOT Invited! 13

Appraisers Are NOT Invited!

“No room” for any additional expert witnesses representing appraisers’ interests… Who are the Valuation Professionals? Appraisers are unbiased and impartial in determining the market value of a property. We have the most training, both in the class room and in the field. We continually improve our skills and knowledge. We are the first to see market trends and continually monitor our coverage areas for triggers of market change. We are held to the highest standards. Appraisers are the valuation professionals that protect the consumer. If the above statement is correct, someone please provide some insight into why not one appraiser...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

Sign VaCAP open letter to AMCs - Appraisal Management Companies 54

Sign the Letter

Sign VaCAP Open Letter to AMCs Fellow Appraisers, A few weeks ago, Virginia Coalition of Appraiser Professionals (VaCAP) sent out an open letter to the AMCs. This letter was republished by many coalitions, and appraiser groups across the country; liked and shared on Facebook and broadcast on several industry blogs. VaCAP received an overwhelmingly positive response from the letter. We even heard from several Realtors applauding our efforts! Activity is still ongoing with comments! Click here to read the letter and comments! We heard you loud and clear… The letter can now be signed by individual appraiser here on AppraisersBlogs. We will...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

10

AMCs to Pay Appraisers C&R Fees

Call to Action in Support of Virginia Senate Bill Requiring AMCs to Pay Appraisers C&R Fees Appraiser Colleagues, Finally, you have an opportunity to get what you have been screaming for: customary and reasonable fees for your work. On January 23, 2015, Senator Martin offered Senate Bill NO. 1445, requiring appraisal management companies to pay appraisers customary and reasonable fees. The bill mirrors the language in Dodd-Frank. A copy of SB 1445 as introduced is attached. Please contact your legislative representatives in support of this important legislation. VAR’s support will be important to the success of this bill. Please include VAR...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

4

Declaration of Appraisal Independence

Real Estate Appraisers of America: Declare appraiser independence by prohibiting lenders from having any ownership or stake in the real estate appraisal process. This declaration of the real estate appraisal workers of the United States of America and those who stand together with the appraisal industry is made subject to the understanding that commercial and financial events guide growth and development of society, and that financial products and services are integral to the necessary and successful health of our citizens.  It is further understood and recognized that the fair and independent valuation of underlying assets backing financial products are critical...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

AMC Rules Inconsistent with Congressional Intent - Banking Agencies 2

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

The Appraisal Profession & Appraiser's Business Decimated by the Increasing Dominance of Appraisal Management Services - AMCs 15

Appraisal Profession Decimated by AMCs

The Appraisal Profession & Appraiser’s Business Decimated by the Increasing Dominance of Appraisal Management Company Services (AMCs) For the past two months, VaCAP has participated in a networked council consisting of 13 professional state appraisal organizations in responding to the Agencies request for comments of the Proposed Rules on Minimum Requirements for Appraisal Management Companies: Dear Agencies; This letter is in response to the Agencies’ request for comments on the Proposed Rules on Minimum Requirements for Appraisal Management Companies. The undersigned represent a networked council of professional state appraisal organizations. We appreciate this opportunity to comment and thank the Agencies for...

AAREA / ACOW / AMC / Appraisal / Appraisal Management Companies / Appraisal News

PADS - Appraisers Running for Exits 8

PADS – Appraisers Running for Exits

We urge appraisers to review the PADS Model Current economic trends suggest your appraisal practice will not survive beyond 2015. Appraisers are running for the exits, with many moving into Ad Valorem, and some into cost estimating.  Client accounts you thought were safe have been converted to ether and dispersed among a dark refinancing void. You’ve gone from completing six appraisals per week to camping by your email, in hopes of an AMC broadcast assignment appearing. Where you once had time to think about accepting the assignment, you now have less than 2 seconds to accept, because like you, ninety...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Call to action DPOR AMC hearing 1

DPOR AMC Public Hearing CALL to ACTION

CALL to ACTION: DPOR Public Hearing for Initial Appraisal Management Company Regulations Thursday, February 27, 2014, DPOR is holding a public hearing on the proposed Initial Appraisal Management Company Regulations. The hearing will begin at 9:00AM in the DPOR  meeting room at 9960 Maryland Dr, Richmond. The new regulation establishes definitions, qualifications, fees, and standards of practice and conduct for appraisal management companies. The new regulation is required to implement Chapter 405 of the Acts of the 2012 General Assembly, which resulted from HB 210. The goal of the regulation is to establish qualifications, fees, and standards of practice and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Assigning Blame 0

Assigning Blame

Even though the redirection of blame is an ancient approach to avoid taking responsibility for ones one actions, this seemingly innocuous tactic has become the leading downfall to the financial industry today. Consider, the consequences of shifting blame: The actual party who has made poor lending decisions escapes taking responsibility, and often times will even get promoted. Thus the initial behavior does not change. Since the poor decision has not been corrected, the pattern will continue. Redirecting the blame combined with the continuation of the faulty decisions expands the direction of investigation, because now a larger pool of appraisers appear...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Political Action

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