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AI Opposes Residential Appraisal Threshold Increase

by: NCAI
Category: Legislative
Tags
Jan
28
The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers participated in bipartisan meetings with members of Congress Jan. 15, urging them to review a proposed increase to the residential appraisal threshold.
 
The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency have proposed raising the residential appraisal threshold from $250,000 to $400,000.
 
The Appraisal Institute is asking appraisers to voice their opposition to the proposed increase. AI created an action alert where its professionals and others can weigh in on this important matter. The action alert provides talking points that appraisers can use in their letters, and AI encourages appraisers to share their own stories and experiences when speaking against the proposal. 
 
Use the AI action alert to make your voice heard.
 
If you have any questions regarding this issue, contact Bill Garber, AI’s director of government and external relations, at 202-298-6449 or by email at [email protected].

Appraisal Institute President Outlines 2019 Goals

by: NCAI
Category: National
Tags
Jan
24

2019 Appraisal Institute President Stephen Wagner, MAI, SRA, AI-GRS, outlines the Appraisal Institute’s priorities for the year in the organization’s latest video.

As the Appraisal Institute continues to serve as the global valuation profession’s thought leader, the organization remains at the forefront of the most pressing issues facing appraisers today.

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26 Members Received Designations from the Appraisal Institute in December

by: NCAI
Category: National
Tags
Jan
18

The Appraisal Institute designated 26 members in December, including five who received their MAI designations, seven who received their SRA designations, 12 who received their AI-GRS designations and two who received their AI-RRS designations. 

Click here to view.

Appraisal Institute Recognizes 1 Individual as 'Volunteer of Distinction' for Q4

by: NCAI
Category: National
Tags
Jan
17

The Appraisal Institute on Jan. 9 announced the recognition of one individual as a "Volunteer of Distinction" for the fourth quarter. 

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Appraisal Institute Accepting Nominations for 2 Awards to be Presented in July

by: NCAI
Category: National
Tags
Jan
15

The Appraisal Institute announced Jan. 9 that it is accepting nominations for the Lifetime Achievement Award and the Outstanding Service Award, two ways AI recognizes some of its most deserving professionals. Nominations for both awards are due May 24. Awards will be presented at the Appraisal Institute's 2019 Annual Conference July 22-24 in Denver.

Click here to learn more.

Slowdown in Industrial Sector Likely, Which Could Favor Investors, JLL Reports

by: NCAI
Category: Industry
Tags
Jan
14

By Michael Tucker

After several quarters of record-breaking high rents and low vacancies, the industrial real estate sector will likely "pause" soon, said JLL, Chicago. But it said that could be good news for smart owners, investors and occupiers.

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FEMA Brings Back Flood Insurance Policies During Lingering Government Shutdown

by: NCAI
Category: Legislative
Tags
Jan
14

By Caroline Basile

The Federal Emergency Management Agency announced late Friday that it will resume selling and renewing flood insurance policies, rescinding its initial ruling that the National Flood Insurance Program cannot be renewed amid the ongoing government shutdown.

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AI Seeks Public Hearing on Appraisal Threshold Increase

by: NCAI
Category: Legislative
Tags
Jan
10

The Appraisal Institute and 15 other organizations submitted a letter Dec. 21 to the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency requesting that they hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000. 

Click here to read the letter.

AI Rejects Proposed Residential Appraisal Threshold Increase

by: NCAI
Category: Legislative
Tags
Dec
31
The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve on Nov. 20 released a proposal to increase the threshold at which residential home loans require an appraisal to $400,000 from $250,000.
 
The rule would not apply to loans wholly or partially insured or guaranteed by, or eligible for sale to, a government agency or government-sponsored enterprise.
 
“The Appraisal Institute strongly objects to the FDIC’s proposal to raise residential appraisal thresholds,” said 2018 AI President James L. Murrett, MAI, SRA. “Congress just considered establishing a residential appraisal exemption and instead chose to enact a vastly different allowance involving appraisers in rural areas. This proposed rulemaking flies in the face of this action, and recreates the same type of environment that led to the housing crisis.
“By increasing the residential appraisal threshold from $250,000 to $400,000, FDIC would threaten the vital role that appraisers play in real estate transactions” said Murrett. “This action would undermine the crucial risk mitigation services that appraisers provide clients and users of appraisal services.
 
Murrett noted, “Raising the threshold means more evaluations will be allowed in place of appraisals. “The Appraisal Institute anticipates that will result in a return to the loan production-driven environment seen during the leadup to the financial crisis, where appraisal and risk management were thrust aside to make more – not better – loans. Apparently, the FDIC has learned nothing from that experience.
 
“Reducing regulations may seem to make sense initially, but the FDIC’s announcement raises significant safety and soundness concerns that the Appraisal Institute finds deeply disturbing,” Murrett said.

Some Economists See Looming Recession, but Goldman Sachs Says

by: NCAI
Category: Industry
Tags
Dec
20

By Kelsey Ramirez

Many economists are predicting the next recession could occur in 2020 or even 2019, but that’s not what Goldman Sachs is predicting.

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AI and Land Trust Alliance Support Conservation Easement

by: NCAI
Category: Legislative
Tags
Dec
07

The Appraisal Institute and the Land Trust Alliance co-signed a letter Nov. 29 urging congressional leaders to advance the Charitable Conservation Easement Program Integrity Act, which would help maintain the integrity of conservation easement donations by closing an apparent loophole related to abusive syndicated tax shelters. 

Click here to read more.

42 Members Designated in November

by: NCAI
Category: National
Tags
Dec
07

The Appraisal Institute designated 42 members in November, including 18 who received MAI designations, six who received SRA designations, 16 who received AI-GRS designations and two who received AI-RRS designations.

View the list here.

NCAI Comments on NCUA's Proposal

by: NCAI
Category: Legislative
Tags
Dec
06

As you're aware by now, AI joined 17 other groups to submit public comments opposing NCUA's proposal to quadruple – from $250,000 to $1 million – the appraisal threshold for non-residential real estate loans. Our own state chapter (NCAI) has submitted public comments as well. Click the button below to read them.

Read NCAI's Letter

72 Members Designated in October

by: NCAI
Category: National
Tags
Nov
16

The Appraisal Institute designated 72 members in October, including; 1 who received MAI AND AI-GRS designations; and 34 who received MAI designations; 11 who received SRA designations; 17 who received AI-GRS designations; 9 who received AI-RRS designations.

Click here to view.

Appraisal Institute Presents at Key Industry Events in October

by: NCAI
Category: Membership
Tags
Nov
07
The Appraisal Institute announced Oct. 31 that its elected officers and others represented the organization at key events in October.
 
President James L. Murrett, MAI, SRA, attended Valuation Expo, Sept. 30-Oct.3, in Las Vegas, where he presented “What’s New at the Appraisal Institute.” AI also exhibited at this event.
 
Vice President Jefferson L. Sherman, MAI, AI-GRS, spoke at the Iowa Commercial Real Estate Expo, Oct. 2, in Des Moines on “Issues Affecting the Appraisal Community.” 
 
President-Elect Stephen S. Wagner, MAI, SRA, AI-GRS, represented AI at the American Society of Appraisers’ International Appraisers Conference, Oct. 7-10, in Anaheim, California. 
 
Murrett and CEO Jim Amorin, MAI, SRA, AI-GRS, represented AI at Expo Real, Oct. 8-10, in Munich. 
 
Sherman presented at the joint FECOVAL/UPAV/Pan Pacific/IRWA meeting, Oct. 8-13, in Tijuana, Mexico, where he spoke on the “State of the Appraisal Profession” and “AI Body of Knowledge.” 
 
Murrett presented at The European Group of Valuers Associations (commonly known as TEGoVA) Fall Meeting, Oct. 18-20,  in Athens, Greece, about “Prospective Values.” 
 
2016 AI President Scott Robison, MAI, SRA, AI-GRS, AI-RRS, spoke on the behalf of the organization at Remnin University in Beijing on “Appraisal Review in the U.S.” and at the China Institute of Real Estate Appraisers and Agents Annual Meeting, Oct. 25-26, in Beijing, on “Impact and Opportunity of Technology-Based Valuations on the Valuation Profession.”
 
AI also exhibited at the Land Trust Alliance Rally, Oct. 11-13, in Pittsburgh, and at the Mortgage Bankers Association Annual Meeting, Oct. 14-17, in Washington.

AI Professional Appointed to Missouri Real Estate Appraisal Board

by: NCAI
Category: Industry
Tags
Nov
02

By Liam Quinn

Missouri Gov. Mike Parson on Oct. 18 appointed Randy Bryson, SRA, AI-RRS, to the state's Real Estate Appraisers Commission. Bryson is president of Associated Property Analysts in Columbia and has been an appraiser since 1980. 

Click here to read more.

NCAI Leadership Met with AI 2019 President Stephen Wagner

by: NCAI
Category: Programs
Tags
Nov
01

NCAI 2019 President Sheri Colvin and NCAI 2019 President Elect Chris Johnson met with AI 2019 President Stephen Wagner at the AI Chapter Leadership Program in Chicago, IL – October 2018. Learn more about the event here.

  

Mortgage Rates Reach New 7-Year High

by: NCAI
Category: Industry
Tags
Oct
23

The modest decline in mortgage rates is a welcome respite from the rapid increase in rates the last few weeks. While the housing market has clearly softened in reaction to the rise in mortgage rates, the economy and consumer sentiment remain very robust and that will sustain purchase demand, particularly in affordable markets and neighborhoods.

Click here to read more.

AI Recognizes 5 Individuals as 'Volunteer of Distinction'

by: NCAI
Category: Industry
Tags
Oct
12
The Appraisal Institute on Oct. 3 announced the recognition of five individuals as a “Volunteer of Distinction” for the third quarter. 
 
The individuals honored are:
  • Charles G. Argianas, MAI, (Chicago Chapter);
  • Hugh B. Bass Jr., MAI, (Atlanta Area Chapter); 
  • R. Wayne Pugh, MAI, (Louisiana Chapter);
  • Jose A. Rodriguez-Martinez, SRA, AI-RRS, (Puerto Rico and Caribbean Chapter); and
  • Leah Lasley Shell, SRA, (Arkansas Chapter).

AI Distributes 45-Day Notice

by: NCAI
Category: Legislative
Tags
Oct
12
The Appraisal Institute on Oct. 1 sent to 45-Day Notice an item pertaining to amendments to the organization’s bylaws and regulations 8 and 9. AI’s Board of Directors will consider the proposed amendments at its Nov. 15-16 meeting in Chicago. 
 
Read about the proposed admendments. AI professionals need to sign in to read the notice.
 
AI professionals need to sign in to read the notice. Comments should be sent to [email protected].
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