The first quarter is behind us and second quarter is drawing to an end, we’re almost at the halfway point in the year. Now is the perfect time to review your goals and make adjustments to your plans for the remainder of the year. With so much happening over the past few months, we wanted to provide our readers with a quick preview of things to come and a recap of past events. We have highlighted some of the topics that will be featured in upcoming articles and some housekeeping items from us, here at the Appraisal Buzz.
Exposure Draft of proposed changes for the 2018-2019 edition of USPAP
In April 2016, the Appraisal Standards Board (ASB) released the first exposure draft of proposed changes for the 2018-2019 edition of the Uniform Standards of Professional Appraisal Practice. The ASB regularly solicits comments and suggestions for improving these standards and requirements. If interested, you are encouraged to submit comments in writing to the ASB before June 10, 2016. To view the first exposure draft to the 2018-2019 USPAP changes, click here.
2016 National Appraiser Survey
You still have time for your voice to be heard. If you haven’t already, take some time and complete the 2016 National Appraiser Survey. This survey is conducted every year to gain feedback on the pressing issues appraisers face in the industry and is distributed to lenders, regulators, AMCs, and state appraisal agencies. You can complete the survey here.
Appraisal Practices Board Valuation Advisory #7
The Appraisal Practices Board (APB) released voluntary guidance on Valuation of Green and High-Performance Property: Background and Core Competency. Recognizing that there was a need for additional guidance on the appraisal of “green” and “high-performance” building features, this Advisory provides resources and guides to assist in those types of appraisal assignments. The subject matter panel of experts established by the APB on this topic also complied an extensive bibliography of resources that is available online here.
Collateral Risk Network – 2nd Quarter Meeting April 14th, 2016
The Collateral Risk Network (CRN) is a group of chief appraisers, collateral risk managers, regulators, and valuation experts who are all focused on resolving the challenges in the valuation profession. Their second quarter meeting was held April 14th, in New Orleans, LA. The agenda included an FHFA Update from FHFA’s General Counsel, Alfred Pollard, a Macroeconomics Update from Jacquie Doty with CoreLogic, a quick review of the Appraiser Rules of Engagement from Ernie Durbin of Valuation Vision, a presentation on Customary and Reasonable fees by Scott Murphy, Chair of the Georgia Real Estate Appraisal Commission. Peter Christensen of LIA Administrators and Insurance Services provided a review of AMC Liability Issues. Greg Stephens discussed the Future of the Appraisal Industry related to the loss of the field appraiser which David Bunton from the Appraisal Foundation provided an update from the Appraiser Qualifications Board. Be on the look out for a future article updating you on the topics discussed during this meeting.
Motivated by our mentors to go an extra mile
In the appraisal profession, most spend a lot of time in the field developing their own experiences and learning along the way. Very few get the opportunity to have a great mentor to help guide them. The Texas Appraiser Licensing and Certification Board developed a great program available to appraisers credentialed in their state. The Buzz staff will be interviewing Douglas Oldmixon, Executive Director of the Texas Real Estate Commission and Commissioner of the Texas Appraiser Licensing and Certification Board, to discuss the Mentorship Program in Texas.
Allterra Online to release a new five-hour CE course
In the upcoming weeks Allterra Online will be releasing a new online course that will be approved for five hours of continuing education credit. The course Best Appraisal Practices will address common issues and misunderstandings found by appraisal reviewers and underwriters. Each lesson identifies weak assumptions, report comments and applicable standards and guidelines.
Appraisal Buzz e-Newsletter updates
Recently the Appraisal Buzz e-Newsletter underwent some updates and backend revamps. These updates included updating clickable links and removing certain spam options to ensure the e-Newsletter is delivered directly to your inbox. If you are not already a subscriber to the Appraisal Buzz, sign up here to get the newsletter delivered to your email inbox.
Valuation Expo 2016
We would also like to remind our readers that there will be two Valuation Expo events this year. The East Coast event will take place July 11-13th in Baltimore, MD and the West Coast event is November 10-12th in Las Vegas, NV. The schedule includes CE topics ranging from fraud, to regulatory updates, and appraiser training. Even if you’ve been appraising for 20 years, you are going to find these discussions informative and fun. If you can’t make time for the whole 14 hours of CE, there are trade show only passes available so you are still able to network and meet new clients on the trade show floor. The Appraisal Buzz will be hosting the Appraisal Bee, so be sure to get your card and stop by each exhibitor who is participating for your chance to win a prize. Visit ValuationExpo.com for complete schedule information and to register.
Appraisal Buzz Magazine
Our second edition of the Appraisal Buzz Magazine was released this spring and we have received an overwhelming positive response. For those of you who have not seen or heard about the Appraisal Buzz Magazine, you can view the digital version here. Our next edition will be released Fall 2016, make sure you get the free magazine delivered directly to your door, fill out our sign up form.