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NEWS YOU CAN USE

July 1, 2015

The Appraisal Foundation: The Appraisal Foundation has commenced its annual search for qualified candidates to serve on the Appraiser Qualifications Board (AQB) and the Appraisal Standards Board (ASB). For more information and to apply, click here.

Appraisal Groups' Debate Could Change Regulatory Future
. Reprinted with permission from Valuation Review, all rights reserved.


The Appraisal Foundation:
Appraisal Practices Board Adopts Valuation Advisory on Green Valuation. The Valuation of Green and High Performance Property: Background and Core Competency is Now Available.

June 16, 2015

The Appraisal Foundation Press Release: The International Valuation Standards Council and The Appraisal Foundation Collaborate to Bring Greater Consistency to Appraisal Standards. Click here to view the article.

June 11, 2015

The Appraisal Foundation issues Legislative Fact Sheet on California Bill

The Appraisal Foundation has issued a Legislative Fact Sheet on California State Assembly Bill #624 which addresses the question of appropriate valuation standards to be applied in the state.  To view the TAF Fact Sheet on the bill, click here.  NAIFA members who are licensed to appraise real property in California are particularly encouraged to weigh in with the California Senate Business, Professions and Economic Development Committee who is currently considering the legislation.  Contact information for the State Committee is included on the Legislative Fact Sheet for your convenience.

June 8, 2015

The Appraisal Foundation: The Appraisal Practices Board (APB) has adopted the following Valuation Advisory: APB Valuation Advisory #6: Valuation of Green and High Performance Property: Background and Core Competency. The APB is an independent Board of the Appraisal Foundation, which is responsible for developing voluntary guidance on recognized valuation methods and techniques. To obtain a copy of the new Valuation Advisory, click here

June 1, 2015

The Appraisal Foundation: Important alert regarding legislative activities that will impact appraisers and the appraisal regulatory system. Click here to view. 

May 5, 2015

The Appraisal Foundation: The Appraisal Standards Board (ASB) invites you to its upcoming Public Meeting on June 26, 2015, in Redondo Beach, California, where the future direction of the Uniform Standards of Professional Appraisal Practice (USPAP) will be considered. The Board seeks feedback from government regulators, educators, appraiser organizations, practitioners, and users of appraisal service. As an additional part of this outreach effort, the ASB respectfully requests your input by answering a three question survey. Click here to fill out the survey.

To register for the public meeting, click on the Register Here button to your right. Please visit our website for a list of all events www.appraisalfoundation.org

April 30, 2015

FHA has delayed the effective date of the new handbook (4000.1). Click here for details. 

Regulatory Issues Affecting the Real Estate Appraisal Profession


Over the past year, a select group of professional appraisal organizations including NAIFA have met to discuss what are jointly viewed as major problems facing our appraisal profession.  The results of these discussions are outlined in the accompanying document entitled Regulatory Issues Affecting the Real Estate Appraisal Profession.

Real estate appraisers are currently experiencing significant pressures that threaten the structure and integrity of the appraisal profession while posing financial risks to consumers.  We believe that the declining attractiveness of the appraisal profession to new entrants is a major problem, leading to a dwindling qualified appraiser population, lack of transparency in the appraisal process as underwriters off-load risk, and consumers being offered fewer and lower quality professional tools related to one of their most significant financial investments for which they are required to arrive at a fully informed, intelligent decision. 

NAIFA and a coalition of concerned professional appraisal organizations seek the following actions to help stabilize the market for practitioners and consumers (taxpayers) alike: 
  1. Create a more effective training structure to support Appraiser Trainees in order to support and promote growth in the appraisal profession.

  2. Improve transparency in the valuation process by: 

    a. Enforcing consistency in state license requirements. 

    b. Supporting mandatory licensing rules that require the use of licensed or certified appraisers for any services for which an opinion of value for real property is developed. 

    c. Requiring complete disclosure and breakdown of the components covered by appraisal fees.
  3. Lower the de minimis threshold from $250,000 TO $25,000, providing consumers, at all levels, the opportunity to benefit in their decision making process by providing a professional, unbiased opinion of value.

  4. Enforce payment of €œcustomary and reasonable€ fees to appraisers to protect the profession against declining fees and the assumed related decline in appraisal quality.

  5. Encourage heightened appraisal scrutiny of all loan types including Qualified Mortgages and government-sponsored entities (GSE) by amending regulations to ensure that lenders are held to the same standards as that required of higher-risk mortgages.

  6. Relax the three-day requirement for appraisal fee estimates by lenders to allow them sufficient time to estimate these fees given the potential complexities of appraisals versus other required criteria, such as routine credit reports, flood certifications, and tax services.

  7. Support additional consumer access to educational products relating to the appraisal process.

The cover letter, summary document and the full white paper can be accessed electronically.


April 27, 2015

ASFMRA, ASA, NAIFA, NRCS Comment Letter: Click here to view. 

April 22, 2015

AMC Final Rule: Today, several Federal Agencies (U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, National Credit Union Administration, Bureau of Consumer Financial Protection, and Federal Housing Finance Agency) released their final joint rule on "Minimum Requirements for Appraisal Management Companies”.  Click HERE to view a copy of the final rule.NAIFA and its coalition partners are reviewing the information and will be responding regarding how many of our recommendations and objectives were incorporated into the final version of the document. 

The rule has not yet been published in the
Federal Register (it likely will be published in the next week or so), and will become effective 60 days after publication in the Register.

April 6, 2015

April 2, 2015

CFPB ToolKit: The United States Consumer Financial Protection Bureau (CFPB) just released its "Home Loan Toolkit”, which is designed to give prospective homeowners important information about financing and closing on a mortgage loan, including the loan estimate (a/k/a good faith estimate) and the closing document.  NAIFA notes that in the appraisal cost line of the Closing Document, the fee paid to the appraiser is not separated from the fee paid to the AMC when an AMC is used by the lender to order the appraisal.  During the toolkit’s initial construction approximately a year ago, NAIFA and ASA registered joint opposition to this omission, and provided arguments as to why these fees should be separated.  NAIFA and ASA worked diligently over the past year with CFPB to convince them of the importance of this change in the toolkit.  Ultimately we lost the fight, and the final CFPB version does not include separation of fees on the sample GFE and Settlement form.  NAIFA will be distributing a survey to members on the CFPB toolkit very soon – watch for an email survey shortly.  In the meantime, please click here to view the current CFPB toolkit. 

 





 

ASSOCIATION NEWS

June 24, 2015

NAIFA Class Coordinator Contest: NAIFA Class Coordinators are eligible to receive a free registration to the 2015 NAIFA national Conference! Click here to learn how!

June 16, 2015

The Passing of Ed Hardy, IFA

It is with deep regret that we announce the death of Ed Hardy, IFA. Ed Hardy became a designated member of the NAIFA in 1992. He was instrumental in bringing the RMLS and Data Quick to the Chapter, which initiated the growth of the Chapter. He served in all capacities of running the Portland Rose City Chapter. He will be sincerely be missed. 

Services will be held for Ed Saturday, June 27, 2015 at Holy Trinity Church, 13715 SW Walker Rd. Beaverton, OR. 97005

June 4, 2015

2015 NAIFA National Conference Update: NAIFA has partnered with A La Mode to offer additional CE courses in Las Vegas during the NAIFA National Conference. The courses will be held Wednesday, October 21, and Thursday, October 22, at $149 for both days.
March 17, 2015

 

NAIFA's 2015 National Conference: Plan on attending the 2015 NAIFA National Education Conference held in Las Vegas, NV, October 19th – 22nd at The Mirage Hotel. This year's education portion is in conjunction with ASA. Registration is now open!!!  Click here to register! . 

January 30, 2015

 

Announcing the NAIFA chapter member designation competition!

For details, please click here. 

January 29, 2015

Announcing the NAIFA "Member Get a Member" Contest!

For details, please click here.

 

January 28, 2015


AHP Insurance:
NAIFA Members now have access to individual health insurance options. Click here to learn more.

 

 

ANNOUNCEMENTS

Managing your NAIFA profile:

Think of your online NAIFA profile as an online resume. Like a resume, your NAIFA profile provides your contact information, experience, education, professional recognition, skills/qualifications, and much more. Your NAIFA profile is your online advertisement to over 700,000 annual visitors to NAIFA's website. Be sure to keep it up-to-date and accurate to ensure that when people are looking for an appraiser - they find you!
Click here to learn how to manage your online profile.

 

 

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Calendar

10/19/2015 » 10/22/2015
2015 NAIFA National Conference


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National Association of Independent Fee Appraisers
330 North Wabash Avenue, Suite 2000, Chicago, IL 60611
Phone: 312-321-6830 Fax: 312-673-6652 Email:
info@naifa.com

If you are looking for the National Association of Insurance and Financial Advisors, an unaffiliated insurance & financial association, click here.