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NEWS YOU CAN USE

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.

The Appraisal Foundation: The Appraiser Qualifications Board (AQB) held a Public Meeting in Seattle, Washington on March 20, 2015. Click here to view a summary of the meeting. 

March 30, 2015

Arizona Passes Law Eliminating Appraisal Board: 

Arizona Gov. Doug Ducey on March 12 signed into law SB 1480, legislation that eliminates the Arizona Board of Appraisal effective July 1. The ABOA’s administrative functions will be reassigned to the Department of Financial Institutions. This provision was included in the state’s FY 2016 budget that passed the legislature March 7. 

Arizona will join a handful of states that don’t have an appraiser board or commission. According to the Executive Summary accompanying the Governor’s budget proposal, the action was necessary because the shrinking population of licensed appraisers was depleting ABOA revenues and that was "threatening the ability of the Board to fulfill its statutory obligations.”

During the debate on the legislation, concern was expressed about assigning oversight of appraisers to the same agency in charge of overseeing and regulating state chartered financial institutions and mortgage loan originators. According to the Appraisal Subcommittee’s Policy Statements, "States should maintain an organizational structure for appraiser certification, licensing and supervision that avoids conflicts of interest.” However, the Policy Statements also say that a "State has flexibility to structure its Program so long as it meets its Title XI related responsibilities.” The ASC did not take a position on the Arizona legislation. 

In a March 12 email to its members, the Phoenix Chapter of the Appraisal Institute stated that the "PCAI Board is reaching out to the Superintendent of Financial Institutions to be a source of information, offer assistance on behalf of our members and to aid in addressing concerns of our members.” Additionally, the PCAI stated that it will "work to ensure that the organizational structure complies with Appraisal Subcommittee and that Arizona maintains its current ‘excellent’ rating as determined by the ASC.”

View a copy of SB 1480 (specifics are on pages 5-10).

March 25, 2015

The Appraisal Foundation: The Appraisal Foundation Adopts Updated Qualification Criteria for Personal Property Appraisers. To access a full copy of the Second Exposure Draft, which will be the basis for the new Criteria, click here

March 19, 2015

US Department of Housing and Urban Development: FHA Single Family Housing Policy Handbook (Handbook 4000.1)

March 16, 2015

The Appraisal Foundation: The Appraisal Standards Board (ASB) met in New Orleans, LA on February 6, 2015, and adopted the 2016-17 USPAP. Please click here for a meeting summary. For an overview of adopted changes, please click here: 2015 Summary of Actions. 

The Appraisal Foundation: The next public meeting of the Appraisal Practices Board (APB) is approaching. The meeting is being held in Nashville, Tennessee, on Friday, May 1, 2015, from 9:00 am - 12:00 pm. Click here to register. 

The Appraisal Foundation:
The Appraiser Standards Board (ASB) has issued the following: 2015 Summary of Actions Related to Proposed USPAP Changes.





 

ASSOCIATION NEWS

April 2, 2015

NAIFA Upcoming Events:

Registration is now open for the 2015 Instructors’ Conference!  

The conference is being held on Thursday, April 30th, from noon until 6:00pm, and Friday, May 1st, from 8:30am to noon, at: 

Hyatt Regency O’Hare
9300 Bryn Mawr Avenue
Rosemont, IL 60018

Click here to view the schedule and register online.

Please note:  significantly discounted hotel room rates of $159 plus tax single/double occupancy are only available through Wednesday, April 8.  After that date, regular room rates will apply and the hotel is expecting to be sold out during our meetings.  Please act immediately to secure your sleeping room accommodations! 

The 2015 Board of Director’s Meeting follows immediately on May 2. 

Please contact the national office with any questions:
 
Email: info@naifa.com
Phone: 312-321-6830

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.
 
January 5, 2015 

 

New Jersey NAIFA: The 2015 Education Conference is being held this year from April 16-17. Click here view program details and access registration information.

 

 

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.

Bradford Technologies

Member Only Benefit! Bradford Technologies has become a NAIFA Preferred Partner and will be offering NAIFA members an exclusive Appraisal World Benefits Package. Included in this package is CompCruncher, CompCruncher Concierge Service, CompCruncher Skills Assessment, and Directory Plus AppraisalWorld Membership. Click here to learn more!

Valuation Research

If you would like more information about the analytical tools offered by Valuation Research, LLC, please go to their website (www.valuationresearchllc.com) and register. Registration is free. Once you’ve registered you can download whitepapers, view analytics, watch a tutorial on products, and download applications. If you have any questions, feel free to contact Mark Stockton directly at: mark@valuationresearchllc.com.

 

 

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Calendar

4/29/2015
Defensible Appraisal Practices

4/30/2015 » 5/1/2015
2015 Instructors' Conference

5/16/2015
2014-2015 National USPAP Update

5/18/2015
Supporting Adjustments with Microsoft Excel

5/18/2015
Understanding and Using Comparable Transactions


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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.