In the wake of the GAO study, stake holders, including several appraisal organizations, have submitted comments to Congress. A joint letter from American Society of Appraisers, American Society of Farm Managers and Rural Appraisers, Appraisal Institute and National Association of Realtors writes: “With a patchwork of state laws and ineffective federal oversight allowing for only…
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Title XI FIRREA: Finding the Framer’s Intent Buying a Lake in Arizona According to Doug Barnard, Title XI and appraiser licensing were a direct result of the savings and loan bailout in the early 1980s that cost taxpayers over $3 billion. The Subcommittee of Government Operations, Commerce, Consumer and Monetary Affairs held hearings all across...…
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Background
The Uniform Standards of Professional Appraisal Practice (USPAP) has been at the center of a tug of war for some time. On one side is the Appraisal Qualifications Board (AQB) of the Appraisal Foundation, which wants ultimate control over USPAP course materials and providers. On the other side are the states, which like to make…
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Bye, Bye ASC? Appraisal Subcommittee Under Fire Is it Time to Start Over? You may already know that late last year the Georgia Appraisal Board, in a letter to Sen. Zell Miller, (D-Ga.), called for broad changes to the appraisal regulatory structure, including sun setting the Appraisal Subcommittee (ASC). What you may not know is...…
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