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FOund this on the AI site

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Kevin Darland

Thread Starter
Freshman Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Kentucky
I was surfing around and found this bit of information on the Appraisal Institute site and couldnt find that it had been mentioned here and not for sure if this is "old news" or "new news". As for what it may or might mean, I will let everyone decide....


Here is the pasted article:

Miller to Propose Elimination of Appraisal Subcommittee
The Georgia Real Estate Appraisers Board has called upon Sen. Zell Miller, D-Ga., to introduce legislation to make broad changes to the real estate appraisal regulatory structure, including the elimination of the Appraisal Subcommittee.

In a letter dated December 18, 2001, the GREAB asked Miller to sponsor legislation that would amend Title XI to provide the following:

Require that lenders utilize appraisers classified by state regulatory agencies in all "federally related transactions";
Require that lenders require that all appraisals in "federally related transactions" be conducted in accordance with USPAP;
Authorize lenders to use any classified appraiser they choose so long as that appraiser holds a classification issued by the regulatory agency in such appraiser's state of residence;
Eliminate the Appraisal Subcommittee;
Provide that any unexpected funds collected by the ASC be paid to the Appraisal Foundation to establish an endowment to help fund the operation of The Appraisal Standards Board;
Allow members of the Federal Financial Institutions Examinations Council to contract with the Appraisal Standards Board to research issues and promulgate appraisal standards; and
Allow states to establish reasonable education, examination and experience criteria for appraiser classifications (rather than the Appraiser Qualifications Board, a private entity) after affording interested parties (for example, local appraisers, the AQB and consumers such as lenders) the opportunity to express their recommendations.
The Georgia Real Estate Appraisers Board can be contacted at 404-656-3916 or [email protected].
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8)

Old Zel is a Republican in Democrat clothing :wink: I tend to agree with most of what the Georgia folks want him to do. I would go one step further. Eliminate the federal bureaucracy that includes the Appraisal Subcommittee, and the Appraisal Foundation. Let each state regulate appraisers as that state sees fit, and since the Foundation owns USPAP, they can continue to function as they have in the past, write standards, and publish them for a fee but take away their pseudo regulatory powers of dictating such things as education, training, etc. Either give the authority to the states or take it away all together. A federal agency could be established that takes over the role of the Appraisal Subcommittee, the Appraisal Foundation, and state licensing agencies. This half one way and half another needs to come to an end.

Don
 
A

Anonymous

Guest
I partially agree with Don. However------part of the ASC role was to "enforce" the Federal standards, etc. and, I believe they keep State Boards from going overboard, as some are already doing. If it is all left up to the States, you'll have a lot more fines and suspensions than you have now. It seems board members are promoting their own (or their association's) ideas of eliminating appraisers, to elevate the "few".

Look at all the past complaints in the forum about, Illinois, N. Carolina, Florida, Colorado, etc.. We need some kind of watchdog, and an improved one !

Q: Should we be going to our associations with this complaint ?
Would it do any good ?
 

David C. Johnson

Senior Member
Joined
Jan 15, 2002
<span style='color:darkblue'>Ron,

You write:

"It seems board members are promoting their own
(or their association's) ideas of eliminating appraisers,
to elevate the 'few'."

There are endless problems with NC's appraisal board, but the one you mention above is certainly one of them. In fact, the NCABias has reached the point of just needing to be completely scrapped and rebuilt from the foundation up. There is not even the pretense of legitimacy there any more. The open fraud involved in their handling of the complaint file against their deputy director seems to have marked the turning point from unacceptably bad to worse. I would be real uneasy about the idea of any existing outside source of even quasi-authority being removed from the equation at this point.

I have done some writing I plan to edit and post in a few days -- a couple of (lengthy) Open Letters. One letter is addressed to the Appraisal Institute regarding the behavior of some of their members at the NCAB. It is a formal complaint. We are going to need some sure and meaningful enforcement of their Code of Professional Ethics and also their Standards of Professional Appraisal Practice. The other letter will be to the current Chairman of the NCAB. These Open Letters elaborate on the problem you mentioned. Be on the look out.

Regards,

David C. Johnson, Raleigh</span>
 

jtrotta

Senior Member
Joined
Jan 16, 2002
David,
Having read parts of your posted information, would you not think it appropriate to also forward all of that information to the Appraisal Foundation?? or the ASB?? - should they be left out of the loop?? just a thought.


the lighter side 8)
 

David C. Johnson

Senior Member
Joined
Jan 15, 2002
jtrotta,

I have never been real clear what enforcement powers the ASC may have. But I agree it makes sense for them to be aware of the situation in NC. (My guess is they already are.) I do plan to formally notify them that many of our board members have apparently not been fulfilling their mandatory Continuing Education requirements which I believe is a mandated concern of the ASC. In that letter I will also suggest that they read the thread for the Formal Complaint to the Appraisal Institute. I will consider notifying the Foundation, but I am even less sure of their authority in any such matters.

A concept I want to make sure is well considered by the ASC is the fact that appraisers must adhere to the way USPAP is enforced as opposed to the way it is taught (i.e., intended to be practiced). Currently ASC-certified USPAP instruction means absolutely nothing in one of the most important banking states in the nation. A letter from the ASC to our Governor's Office might be a real good idea. These guys need to go.

Thanks for your response to my other post.

dcj
 

jtrotta

Senior Member
Joined
Jan 16, 2002
David;
By enlightening these folks at the ASC & The Foundation, they will at least be aware of the real day to day aspects of the business. I don't intend to steal your thunder, but a few years back we had a bunch of idiots providing review services within the state and a couple of them reviewed my work (how dare they :lol: ) , the only problem was they weren't licensed in my State to perform reviews/appraisals et-al; -needless to say everyone I could think of got an earfull. My feeling is if you want to "play the game-by the rules" then all who are involved in "making the rules" need to know what effect their rules have on the industry & the public.

Now I don't want to get off on a rant here, but I will bring up the Contin.Ed. "BS" one more time; if no NEW information is brought to the table (classes) the sole purpose of CEU is basically a scam to take money from hardworkin people, compounded by the loss of earnings for the time spent, to not learn anymore than you already know. Having been in this business for approximately 30 years now, I have not seen anything that I already have not taken several times; to me this is not by any stretch of the imagination "Continuing Education", as I have not learned anymore today than I did 20 years ago. As a matter of fact, some of the classes I took 15 years ago should be brought back, as some of the newbies don't even know those "laws" (within my state) exist.

the lighter side 8)
 

Dick Hemry GAA

Sophomore Member
Joined
Jan 18, 2002
Rather than approx. 30 years of experience one might be lead to believe you have had one experience in about 30 years when you indicate you have learned it all from past seminars, etc. Hope not. Cont. education can be a great opportunity to learn if you can get by the horse crap course offerings some states approve strictly for the course income fees. Certainly not for educational content.
Dick
 
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