A few days ago the Appraisal Regulation Compliance Council shared a very important matter in which all appraisers need to comment: From ARCC’s website: “The Appraisal Subcommittee (ASC) has proposed the Appraisal Subcommittee Enforcement Authority Rule, which seeks to expand its authority. Public input is critical to determine whether this expansion is the solution or… Read More »
Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust. Appraiser Fest was not about promoting the profit of others at the expense of… Read More »
A fellow appraiser is in need of your assistance. Many of you may have heard a Maryland Appraiser, Shane Lanham is the defendant in a law suite for a “low opinion of value based on the race of the homeowner.” Shane is counter suing the accuser for defamation as this has been a very publicized… Read More »
VaCAP is sharing a special message from Cindy Chance, CEO, Appraisal Institute. We ask you share this everywhere as the bias narrative the media has spread needs to change. Consumers deserve the truth!
The local television station WWBT, NBC 12 in the Richmond market is airing a story on Thursday February 22 during the 6:00 News Broadcast about racial bias in real estate appraisals. We know this is not a new topic and previous stories that have aired have been extremely one sided and not from the appraiser’s… Read More »
At the recent Virginia Appraisal Board Meeting on Wednesday June 28th, a discussion occurred about Appraisal Management Companies prohibiting appraisers from including their invoices with the appraisal report. The overall consensus of the Board Members was this practice could be a violation of Virginia Appraisal Management Company Statute § 54.1-2022 B. “B. The appraisal… Read More »
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 »
VaCAP has learned the Georgia Real Estate Appraisal Board is considering rescinding rule 539-1-.23. This rule is the customary and reasonable fee requirement to appraisers from appraisal management companies. The matter will be decided at a 9:30 AM Sunday July17, 2022 meeting. From the Georgia Real Estate Commission and Appraisal Board: Purpose: In… Read More »
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 »
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 »