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The Appraisal Foundation responded to the July 8, 2022 Appraisal Subcommittee letter to state agencies regarding the 7-Hour USPAP update course. Read TAF's letter here.
From the letter: Based on the guidance of Relman Colfax, we [TAF] will be issuing an updated version of this 90-minute portion of the 7-Hour National USPAP Update Course this fall, which clarifies and adds detail to the current section examining bias as it relates to USPAP. In addition to this new material being made available for educators and students, it will also be sent directly to every person who has taken the course to date. Equivalent providers of this course will also receive this updated course which they can insert directly into their existing courses.
TAF probably hired these law firms to prevent them from shaking them down. That's how the hustle works. It's one of the few growth industries in America these days.
If we had been quicker on the uptake we could have done the work ourselves, right here on this forum. It might have taken a week to write up the elaboration and clarification in the ETHICS RULE that they contributed to. Then we could have charged them 1/10th of the money for it and used that cash to buy a couple of lobbyists for a week to shill for you at the BOT. After they signed the NDA, of course.
IMO- just shows you what & how much will be spent to take an appraiser out. This profession (ah hem) has become a political toilet bowl........the public is now in the hands of their own enemy.
Not only that but there is a complete lack of accountability on the part of the Appraisal Foundation. They can spend 500K here, another 500K there, etc. We still don't know what the one million dollars in "lobbying" went for. I guess when it's not your money, you can play fast and loose with it. This is another example of why the entire industry needs a complete regulatory overhaul.