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Read about recent events, essential information and the latest community news from AARO.

If you'd like to share your organization or jurisdiction news with AARO, please email us at: brandy.march@aaro.net, or add our email address to your press distribution list.
Jul
15

TAF Letter to State Regulators

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. 

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Jul
08

Appraisal Subcommittee Letter to State Agencies

On July 8, 2022, the Appraisal Subcommittee sent a letter to state agencies regarding the 7-Hour USPAP update course. In the letter, the ASC cited one of the findings with regard to Fair Housing module. In the letter, the ASC provides options to state agencies. You can read the full letter here

Excerpt from the letter: 
Therefore, in connection with the ASC’s authority to monitor State appraiser certifying and licensing agencies pursuant to Title XI, the ASC does not intend to criticize States based on their determination as to whether their credentialed appraisers will be required to take the 2022-2023 7-Hour National USPAP Update Course until the concerns raised in the Report are addressed and new course content available. This would not affect the minimum continuing education hours required in the AQB Criteria. If States choose not to require the 2022-2023 7-Hour National USPAP Update Course, appraisers would need to fulfill the required continuing education hours with other continuing education offerings, and States would need to document the file accordingly.

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Feb
23

Small Business Advisory Review Panel for Automated Valuation Model (AVM) Rulemaking Outline of Proposals and Alternatives Under Consideration

Consumer Financial Protection Bureau (CFPB or we), along with the
Board of Governors of the Federal Reserve System (Board), the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) are working together to develop a proposed rule to implement FIRREA section 1125. Read the outline of proposals and alternatives under consideration here

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Feb
23

Appraisal Institute Response Letter

In a letter dated February 23, 2022, the Appraisal Institute responded to the letter from Maxine Waters. In the AI's letter, they commented on their initiatives to address concerns about bias and diversity in the appraisal profession, which includes, but is not limted to guidance for appraisers, spearheading legistaiton efforts, and support of more education. 

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Feb
22

Chairwoman Maxine Waters Letter RE: Bias and Discrimination

On February 22, 2022, Represantative Maxine Waters sent a letter to Secretary Fudge and others calling on regulators to investigate misconduct and potential illegial discrmination after an appraiser sent an email to Elizabeth Korver-Glenn. 

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Jan
13

FFIEC Notice of proposed rulemaking

The Federal Financial Institutions Examination Council isused a notice of proposed rulemaking on appraiser regulation and temporary waiver requests. Public comments ends on March 14, 2022. Read the full document here

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Nov
27

Report to the Chairwoman, Committee on Financial Services, House of Representatives

Read the GAO report on Real Estate Appraisals Most Residential Mortgages Received Appraisals, but Waiver Procedures Need to Be Better Defined here

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Oct
22

Notice of Funding to The Appraisal Foundation

The Notice of Funding Availability (NOFA) to The Appraisal Foundation by the Appraisal Subcommittee for the period of October 1, 2021 - September 30, 2022 has been published.

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Oct
21

Appraisal Subcommittee (ASC) Initiates Legal and Policy Review of Real Estate Appraisal Standards and Appraiser Qualification Criteria

The Appraisal Subcommittee initiates legal and policy review of Real Estate Appraisal Standards and Appraiser Qualification Criteria. You can read the media release here.  With funding from the ASC, USPAP and the Criteria will be reviewed against fair housing, fair lending and civil rights laws.

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Aug
05

Register for AARO's Fall Conference!

Book your group rate for AARO 2021 Annual
You will find the information for your online reservation link below. If you have questions or need help with the link, please do not hesitate to ask. We appreciate your business and look forward to a successful event.
 
Event Summary:
AARO 2021 Annual
Start Date: Wednesday, October 13, 2021
End Date: Tuesday, October 19, 2021
Last Day to Book: Friday, September 24,2021 
Hotel(s) offering your special group rate:
  • The Westin Washington, D.C. City Center for 290 USD per night
Book your group rate for AARO 2021 Annual
 

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