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NEWS YOU CAN USE
July 27, 2015
The ASA-NAIFA-ASFMRA comment to the Department of Labor on the re-proposed fiduciary rule was recently reported in the latest edition of the Daily Tax Report. Click here to view. Article by Sean Forbes, reprinted with permission granted by the Daily Tax Report. July 20, 2015
The Appraisal Foundation: The Appraisal Standards Board (ASB) has issued July Q&As on the following topics:
- Impact Value of Surrounding Properties
- Providing a Copy of Workfile
July 17, 2015
ASA, NAIFA Testify in Opposition to CA Assembly Bill 624. Click here to read the article.
The Appraisal Foundation: Call for Applicants. The Appraisal Foundation seeks candidates for vacancies on the Appraiser Qualifications Board and the Appraisal Standards Board. Application deadline is August 3, 2015.
Click here to read the joint letter from ASA, NAIFA, ASFMRA, and EBSA to the Labor Department
The Appraisal Foundation: The next public meeting of the Appraisal Practices Board (APB) is approaching.
Friday, September 11, 2015
9:00 am - 12:00 pm
The Brown Palace HotelJuly 16, 2015
321 17th Street
Denver, CO. 80202
Click here to register.
The Appraisal Foundation: The Appraisal Standards Board (ASB) recently met in Redondo Beach, CA. For a summary of the meeting, click here. The next ASB Public meeting will be held November 20, 2015, in Cincinnati, OH. from 9:00 am - 12:00 pm. July 15, 2015
Mortgage Banking Magazine: State of the Appraisal Industry, by Brian Coester.
This column originally appeared in the June 2015 issue of
Mortgage Banking magazine. Reprint permission granted by the Mortgage Bankers
Profits through LitigationJuly 10, 2015
The following article details a company (Mutual First/First
Mutual Group, LP) who has targeted real property appraisers in litigation, for
the sole purpose of pre-trial settlement income. Unfortunately, this
practice continues with regularity in some locales. A definite read for
every real property appraiser. Click here to view.
Reprinted with permission from Freeman Mathis & Gary.
All rights reserved.
Supplied by Landy Insurance Agency, an NAIFA affinity partner
serving the real property appraiser with a complete line of insurance products
and services. Visit www.landy.com to
contact a specialist for all of your insurance needs.
The Appraisal Foundation: The Appraiser Qualifications Board (AQB) seeks your input on a concept paper regarding alternative experience requirements. Click here to view. July 8, 2015 July 1, 2015
Alliance for Valuation Education: Seeks candidates for at-large regent. Application deadline is September 1, 2015. Click here for information.
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 BillJune 8, 2015
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.
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.
April 30, 2015
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.
FHA has delayed the effective date of the new handbook (4000.1). Click here for details.
April 27, 2015
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:
- Create a more effective training structure to support Appraiser Trainees
in order to support and promote growth in the appraisal profession.
- 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.
- 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.
- Enforce payment of €œcustomary and reasonable€ fees to appraisers to
protect the profession against declining fees and the assumed related decline
in appraisal quality.
- 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
- 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.
- Support additional consumer access to educational products relating to
the appraisal process.
The cover letter, summary document and the full white paper can be
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.
April 6, 2015
April 2, 2015
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.
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.
July 7, 2015
2016 Elections and 2015 Awards: Looking for the Best within the Profession. To access the Candidate Declaration Form and the Award Nomination Forms click here. All forms are due back to the National Office by 5 pm Central time on Friday, August 7, 2015.
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 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.
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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