Happy New Year! VaCAP wishes everyone a happy and healthy New Year! 2019 will be a year of excitement and change! The Fifth Circuit Court will hear Oral Arguments in the Louisiana Real Estate Appraisal Board vs FTC case in early February. VaCAP’s First Conference with Continuing Education takes place February 7 & 8th.… Read More »
Landy Insurance published an article written by Jennifer L. Markowski, a partner at Peabody & Arnold LLP, titled “Marijuana and the Residential Appraiser.” Although Virginia has not legalized marijuana, the guidance within the article is worthy of sharing. Appraisers need to be cautious when describing or reporting marijuana growing on a property. “While the mere… Read More »
The Appraisal Foundation has released a White Paper on Requests for Reconsiderations John Brenan, Director of Appraisal Issues, states: “This paper is intended to provide information to assist appraisers, users of appraisal services, and others, with a greater awareness and understanding of issues surrounding the reconsideration process and offer some suggestions for those who wish… Read More »
Housing Wire reported Deputy Secretary Pam Patenaude announced she is stepping down. “It has been my honor to serve President Trump and Secretary Carson and I am deeply grateful to both for this opportunity,” her resignation letter states. “Thank you to my HUD family and fellow “housers” for helping Americans access decent, safe and affordable… Read More »
Thank You Appraisers for Protecting the Public Good News! Mortgage Fraud increased 12.4% How exactly is this good news? Well, it is simple….. Appraisers had absolutely nothing to do with it! According to the CoreLogic Mortgage Fraud Index, mortgage fraud rose 12.4% from 2nd Qtr 2017 through 2nd Qtr 2018. Here is the break down: … Read More »
The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to amend the agencies’ regulations requiring appraisals for certain real estate-related transactions. The proposed rule would increase the threshold level at or below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000. Consistent with… Read More »
Welcome to VaCAP VaCAP works to promote the appraisal profession and its image to elected and appointed public officials in the Commonwealth of Virginia, the users of appraisal services, and the general public. VaCAP initiates discussion and analysis of issues affecting professional appraisers and monitors the actions of State governmental bodies with the intent to… Read More »
Independent Fee appraisers representing 15 different states were well represented in Washington DC this past weekend. Appraisers from Virginia, North Carolina, South Carolina, West Virginia, Ohio, Louisiana, California, Illinois, South Dakota, Michigan, Utah, Rhode Island, Maryland, Delaware and Washington State joined together in DC for several gatherings. To sum it up simply… Positive Unity among… Read More »