Author Archives: VaCAP Board

New Development- Pay Attention

VaCAP has been informed of a Discussion Draft of a Bill introduced into the US House of Representatives that will directly impact every appraiser, appraiser trainee, appraisal firm, and appraisal management company..   From the discussion draft, the purpose of the Bill: “To establish an independent agency to be known as the Federal Valuation Agency… Read More »

Are They Finally Listening?

The CFPB is reviewing bias in Automatic Valuation Models (AVMs). The proposed rules are a joint effort by the Consumer Financial Protection Bureau, the Office of the Controller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Federal Housing Finance Agency. These agencies are concerned AVMS may reflect bias… Read More »

Lets Call Them Desktops with Third Party Inspectors

Hybrid Appraisals were tested and failed. So what does Fannie Mae do? Let’s call them Desktops with third party inspectors. Fannie Mae has announced they will soon start accepting Desktop Appraisals. The appraiser does not inspect the property; however an interior floor plan including walls is required. This in itself is over and above what… Read More »

Sadden by the Passing of a Colleague

We are saddened to share the passing of our colleague, Mike Miller. Mike was active in the appraisal community for over 30 years and was appointed to the Virginia Real Estate Appraisal Board several times. His dedication to the profession was deep. Many appraisers, both commercial and residential were trained through his office.  Our thoughts and… Read More »

PSST… Want to buy a Bridge in Brooklyn?

This is what Class Valuation appears to be doing to justify their actions. According to the article written by Richard Torne in Mortgage Professional America, Class Valuation has announced the acquisition of DataMaster.  From the article:   “Were not replacing the appraiser, we’re empowering them” Appraisers have had their fair share of discussions on Class… Read More »

Action Required Now

Reminder to Comment – Only Four Days Remain! The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board. The time line to comment is short and ends on July 22, 2021. VaCAP asks each of you to take a few minutes and read the consent decree as… Read More »

Have a Seat Please

              “If you don’t have a seat at the table, you are on the menu.”     Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics? Well maybe… The Appraisal Foundation has… Read More »