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 »
A Call to Comment has been issued. 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 well… Read More »
“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 »
The Appraisal Foundation has issued an exposure draft for Advisory Opinion 16. Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. Unlike other exposure drafts, the text of the advisory opinion has been rewritten. The traditional strike through of word or phrase changes is nonexistent.… Read More »
Within the past 48 hours, the appraisal community has been hit with so much information, we wanted to make sure each of you are aware of what is going on so. The Other Side of Racism Appraisers Blogs published an article yesterday that every appraiser needs to read, share and distribute on all social media… Read More »
Thank you to the many who have already renewed their VaCAP membership. For those of you who have not renewed, (you know who you are) please do so now. Our membership renewal process is the same as it has been for the past several years. It has worked well for us and is both cost… Read More »
The Consumer Financial Protection Bureau is seeking public comments on the proposed rules for a Qualified Mortgage. The proposed rules require the lender to season the mortgage for 36 months before they can sell it to Fannie or Freddie. What that means is the lender will own that loan for 3 years. Fast forward if… Read More »