Appraisal Institute Among Organizations Opposing Residential Threshold Increase
The Appraisal Institute on Feb. 4 was one of six organizations signing a comment letter that "strongly opposed" a proposal from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency to raise the residential appraisal threshold from $250,000 to $400,000.
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Senate Committee Hearing Touches on Concerns Surrounding Appraisal Reform
The Senate Committee on Banking, Housing and Urban Affairs on March 26 held a hearing on housing finance reform where various stakeholders expressed concern about real estate appraisal policy. Housing finance reform has received attention from Congress as members seek to advance reform while the market — and notably, the government-sponsored enterprises — are relatively healthy.
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SBA Releases Updated Appraisal Policy, Imposes Evaluation Requirements
The Small Business Administration on March 29 issued revised guidance for SBA 7(a) and 504 loans that makes it clear to lenders that if they do not get an appraisal, they must obtain an evaluation consistent with the Interagency Appraisal and Evaluation Guidelines for commercial loans below the $500,000 threshold.
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Fannie Mae and National Urban League Partner to Promote Valuation Profession
Fannie Mae and the National Urban League in March announced a partnership to promote the real estate valuation profession. Several workshops and seminars have been held in major markets to showcase professional opportunities.
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State Legislative Sessions in Action, Considering Evaluations, AMCs and Qualifications
The legislatures of 39 states plus the District of Columbia and Puerto Rico currently are in session — and a few states have already concluded their 2019 sessions. The Appraisal Institute's Washington office continues to work with chapters, regions and state coalitions to help shape public policy affecting AI professionals and the valuation profession.
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ANSI Updating Square-footage Standards; AI Lending its Support to the Effort
The Home Innovation Research Labs, an ANSI-accredited standards developing organization, announced in March that it will revise or reaffirm the American National Standard for Single-Family Residential Buildings, Square Footage – Method of Calculating, ANSI Z765-2003. The Appraisal Institute is lending its support, recognizing that the standard is referenced throughout the AI body of knowledge.
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Share Your Issues
The Appraisal Institute's Washington office wants to know if AI professionals have relationships with critical policymakers, or are aware of a burgeoning issue of opportunity or concern. Please contact any member of the AI Government Relations Committee or Washington office staff with more information.
- Bill Garber, director of government and external relations, 202-298-5586, [email protected]
- Scott Dibiasio, manager of state and industry affairs, 202-298-5593, [email protected]
- Brian Rodgers, manager of federal affairs, 202-298-5597, [email protected]