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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 info@aaro.net, or add our email address to your press distribution list.
Mar
13

Appraisal Foundation Offers Coronavirus (COVID-19) Information for Appraisers

The Appraisal Foundation has created a dedicated Coronavirus page, so commonly asked questions and concerns can be addressed.   The page can be found here.

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Mar
13

Spring 2020 Conference and Training Sessions Cancelled

AARO Cancels Spring 2020 Conference along with RTC and CSI Level II Courses. 

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Feb
12

Waters and Clay Request GAO Study to Protect Homeowners from Appraisal Loopholes

The U.S. House Committee on Financial Services, "sent a letter to the Comptroller General of the U.S. Government Accountability Office (GAO), requesting a comprehensive study on the implementation of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by the relevant federal agencies." 

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Feb
07

AQB Board Meeting Today

The AQB is livestreaming their Board Meeting today to discuss the current status of the Practical Applications of Real Estate Appraisal concept and they will also listen to comments about the proposed changes to the Real Estate Property Appraiser Qualifications Criteria.  Register for the event here:

https://zoom.us/webinar/register/WN_EJmrJQlHQQugCdJYRD0Icw

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Jan
29

AARO Announces the Tentative Agenda for the Spring 2020 Conference in San Antonio, Texas

The Spring 2020 AARO Conference (Tentative) Agenda is available for review. General Session Topics include:

  • ASC / TAF Updates
  • A Deeper Dive into Enforcement Issues that Jurisdictions Routinely Handle / Coordinating Complaints across Multiple Jurisdictions
  • Explanation, Preview, and Feedback on Grant Initiatives
  • Grant Workshop - How to Apply for and Manage Federal Funds
  • Fannie Mae's Referral Process to State Boards
  • How are Jurisdictions Auditing AMCs / ASC's Compliance Review of a Jurisdiction's AMC Program
As always, there will be breakout sessions, advisory council meetings, and committee meetings.

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Jan
08

The Appraisal Foundation Sends Letters to the House & Senate

On January 7, 2020, David Bunton, from The Appraisal Foundation, sent letters to both  the House and Senate for National Real Estate Appraiser Appreciation Day. The letters highlighted the growing concern over the safeguards put into place by the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). The Appraisal Foundation requested a Government Accountability Office study. 

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Dec
06

Frequently Asked Questions regarding Temporary Waiver Authority

The Appraisal Subcomittee has issued a Frequently Asked Questions (FAQs) document on the matter of Temporary Waiver Authority.  The FAQs can be viewed here.  

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Oct
25

Assembly Bill 5 (AB-5) Effective January 1st, 2020

On October 25, 2019, the Appraisal Buzz posted an article on Assembly Bill 5 (AB-5). This law was signed by California Governor Gavin Newsom. It will go into effect on January 1, 2020. This law will alter taxes for appraisers and Appraisal Management Companies. Read the full article here

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Oct
08

Final Rule: Real Estate Appraisals - $400,000 Threshold

Per the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation

The OCC, Board, and FDIC (collectively, the agencies) are adopting a final rule to amend the agencies' regulations requiring appraisals of real estate for certain transactions. The final rule increases the threshold level at or below which appraisals are not required for residential real estate transactions from $250,000 to $400,000. The final rule defines a residential real estate transaction as a real estate-related financial transaction that is secured by a single 1-to-4 family residential property. For residential real estate transactions exempted from the appraisal requirement as a result of the revised threshold, regulated institutions must obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. The final rule makes a conforming change to add to the list of exempt transactions those transactions secured by residential property in rural areas that have been exempted from the agencies' appraisal requirement pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act. The final rule requires evaluations for these exempt transactions. The final rule also amends the agencies' appraisal regulations to require regulated institutions to subject appraisals for federally related transactions to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.

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Sep
19

How the New “Gig Worker” Law Affects Appraisers

In the Appraisal Buzz, Peter Christensen and Kim Perotti break down Assembly Bill 5 (AB-5) which is California's new "gig worker" law. Click here to read the full article. They explain how the new law will apply to appraisers and to appraisal management companies. 

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