Appraisal Regulation Under a Microscope
AIDC Webinar - May 20, 2021

Never before in the 32 years since the enactment Title XI of FIRREA has so much attention been paid to the regulation of real estate appraisals by policymakers, the public and the media.  Several high-profile investigations have resulted in a barrage of legislative and regulatory activity, while long-term efforts to build upon and modernize appraisal regulation continue. This webinar explores several of the many legislative and regulatory issues under in-depth consideration simultaneously at both the federal and state level that could significantly alter the course of the profession for many decades.  

Bill Garber, Director of Government and External Relations and Scott DiBiasio, Manager of State and Industry Relations for the Appraisal Institute, report on legislative and regulatory proposals affecting the real estate valuation profession, including:

  • The Biden Administration and Congress’ intent to address alleged racial disparities in appraisals.
  • State legislative and regulatory proposals to prevent valuation bias and discrimination, and the role of state appraiser regulatory agencies.
  • Initiatives to attract new entrants to the residential appraisal field, including the joint Appraisal Institute, National Urban League and Fannie Mae Appraiser Diversity Initiative and The Appraisal Foundation’s Veteran’s Resource program. 
  • Government Accountability Office review of appraisal threshold levels and temporary waiver requests.
  • Efforts by both the Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) to reform and modernize the real estate valuation process, including the way that appraisals are developed, reported, and utilized, and consideration of potential alternatives to appraisals. 
    • Continuing efforts to achieve consistency and harmonization amongst the states, particular in relation to the Practical Applications of Real Estate Appraisal (PAREA) and education approval.
  • Federal legislation creating an appraiser licensing portal, modifying the FHA appraiser panel, AMC Registry Fees, the makeup of the Appraisal Subcommittee, and the disclosure of appraisal fees to consumers.
  • Alleged abuses in the valuation of conservation easement donations and disciplinary actions taken by federal and state regulators.
  • Proposals to limit the liability exposure of appraisers by putting a time-limit on the filing of civil lawsuits.

Click here to view the video on YouTube. 


 

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