The Federal Housing Finance Agency (FHFA) has 20 questions for you. Well, Actually it is only 19 questions. The FHFA is the organization of the Federal Government that oversees Fannie and Freddie. They want feedback on how the GSE’s should move forward with appraisal policy, risk and appraisal processes. Now why FHFA thinks the GSE’s should be even discussing appraisal processes is a question that needs to be asked of FHFA. The Appraisal Foundation oversees appraisal policy and processes not FHFA.
FHFA has given us 22 pages to review to help us understand their questions. It is an easy read with graphs, charts and such. VaCAP encourages each of you to take the time to look over their information and comment.. The comments are due by February 26th, so there is plenty of time to take action.
Now if you don’t want to write to comments to FHFA, that is OK. FHFA has scheduled a listening session for February 11 from 1:00 – 4:00 EST and is allowing participants to register to speak. You must register in advance by Monday February 8 to secure a spot. Register here for the listening session.
VaCAP can not stress enough how important it is for every appraiser to comment. Appraisers have let others dictate many things in our profession, It is time to stop the trend.
Reminder: The Virginia Real Estate Appraisal Board meets Tuesday February 9 @10:00. See the meeting details here. DPOR grants up to 2 hours CE per cycle for attending the Appraisal Board Meetings.