Leadership in the NC Chapter of the Appraisal Institute and the NC Professional Appraisers Coalition continue to work together to oppose Senate Bill 690.  In fact, today, NCAI President Kelli Mayhew, MAI, SRA, and NCPAC President Linda G. Nelson, submitted a letter to Senator Danny Earl Britt, Jr.; Senator Todd Johnson; and Senator Eddie D. Settle of the Committee on Commerce and Insurance concerning SB 690 (see the letter below).

The chapter is immensely grateful to the tireless efforts of NCAI Government Relations Committee Chair Shep Overton, and Scott DiBiasio, Director of Government Affairs for the Appraisal Institute, for leading our legislative push to protect NC appraisers from the unintended consequences of multiple bills introduced this spring, including SB 690.

The first annual Appraisal Institute Legislative Day will be held in conjunction with the Leadership Development and Advisory Committee (LDAC) meeting on May 14-15. This is an opportunity for all appraisers to help shape the future of the appraisal profession by engaging in grassroots advocacy on Capitol Hill:

Your Voice. Your Advocacy. Your Impact.

NCAI Needs Your Help

The time to act is NOW. Please join your leadership team in Raleigh, NC, on Tuesday, April 29, 2025, to lobby and educate our legislators on Senate Bill 690. Reach out to Government Relations Committee Chair Shep Overton ([email protected]) to confirm your availability, obtain more information about the bill, and for assistance in scheduling an appointment with your elected representatives.

Important Legislative Day Documents

• Access our NCAI Legislative Day Scheduling and Lobbying Tips here.
• Printable talking points regarding SB 690 can be found here.

At its May 8-9, 2025, meeting in Chicago, Illinois, the Appraisal Institute Board of Directors will consider proposed amendments to the Appraisal Institute Bylaws. The proposed amendments include in part:

• No longer requiring four (4) regular meetings each calendar year of the Board of Directors, allowing for flexibility to have additional or fewer meetings as deemed necessary.
• Streamlining and aligning processes for calling meetings of the Board of Directors.
• Adjusting the notice requirement for special meetings of the Board from at least forty-eight (48) hours, which is the current requirement, to at least forty-eight (48) hours but less than fifteen (15) days in advance.
• Adjusting the quorum requirement for special meetings of the Board to majority of Directors with voting rights. Currently, special meetings require a 2/3 quorum in certain instances.
• Except where otherwise provided, adjusting the voting threshold for special meetings of the Board of Directors to 60% of Directors with voting rights present at the beginning of the special meeting. Currently, the voting threshold for special meetings is majority except where provided otherwise.
• Elimination of the Past Officers section.
• Clarification and non-substantive housekeeping changes.

The Board Meeting and Motions Project Team (BMMPT) believes that the proposed amendments will help clarify and streamline processes for special and regular meetings of the Board of Directors. The proposed amendments are expected to have minimal financial impact.

Tough Questions on Appraisal Bias Deserve Real Answers

During recent Fair Housing Month forums hosted by the Maryland and New Jersey Civil Rights Commissions, Scott DiBiasio, the Appraisal Institute’s Director of Government Relations, delivered a series of pointed, public questions challenging ongoing claims about appraisal bias. His remarks, made during two separate events on April 11 and April 14, raised critical concerns that continue to go unanswered.

Speaking during both sessions - each focused on equity in valuation - DiBiasio challenged the narrative that appraisers are the root cause of racial disparities in property values:

Multiple bills were introduced in the NC legislature last week that will have broad implications for real estate appraisers. The NCAI Government Relations Committee is working closely with Scott DiBiasio, Director of Government Affairs for the Appraisal Institute, to address each of these bills through educational outreach to legislators and through communications with the North Carolina Appraisal Board.

As these bills progress, chapter members will be given an opportunity to assist in outreach to legislators when necessary. In the meantime, you can read drafts of NC SB 690 here  and NC SB 451 here.

Originally published on February 25, 2025 

The Federal Housing Finance Agency (FHFA) held its second Valuation Modernization Summit on Feb. 26 in Washington, D.C., bringing together industry stakeholders to discuss the future of real estate valuation. The Appraisal Institute was represented at the Summit by Immediate Past President Sandra Adomatis, SRA; Director of Government Affairs Scott DiBiasio; and Senior Manager of Federal Affairs Brian Rodgers.

This May, members Greyson S. Morgan, MAI, Rich Earley, Erica Butler, MAI and Keith Bolte, MAI, AI-GRS attended AI’s 2024 Leadership Development and Advisory Council conference in Washington, DC. On the last day, Erica Butler, MAI was presented with the coveted William T. Anglyn award which is given to the first-year participant who exhibited exemplary leadership, integrity and outstanding contributions to the conference.

The members of Region V can be proud of the many individuals who have served the Appraisal Institute membership at the Regional and National levels. Through their dedicated service, Region V members have the opportunity to meet and interact with other leaders who are also active in the governance of the organization. This enriches their careers by expanding their network of peers in addition to their knowledge of appraisal and other issues outside of their individual communities. Each of you is urged to become involved in this process by seeking out leaders in your Chapter who will assist Region V with continued service on the National Board of Directors, Committees, and Panels

The Region V Nominating Committee will be meeting live stream via Zoom to prepare a slate of nominees to fill Region V positions for the years 2025-2026. Please consider members within your respective chapters or other Region V chapters who have the skills, eligibility, and character to assume the leadership positions for 2025- 2026 as listed below. You may provide your recommendations to the 2024 Region V Chair, Claire M. Aufrance, MAI, SRA  at [email protected], or the Region V Executive Director, Nancy Linton-Hall, by this Friday, February 9, 2024.

Originally published on November 28, 2023, by the Federal Housing Finance Agency.

The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit properties will be $766,550, an increase of $40,350 from 2023.

Originally published on November 29, 2023, by the FDIC.

I am pleased to report on the release of third quarter 2023 performance results for FDIC–insured institutions.

Originally published on November 22, 2023, by Erik Sherman for GlobeSt.com.

Originally published on November 1, 2023, by the Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC).

On Wednesday, November 1, 2023, the Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC)  held its third public hearing on appraisal bias to discuss how a residential appraisal is developed and reviewed, the process for reconsiderations of value for residential real estate valuations, and the development of rural appraisals.

Originally published on October 27, 2023, by The White House. 

Today, the Biden-Harris Administration is announcing new actions to support the conversion of high-vacancy commercial buildings to residential use, including through new financing, technical assistance, and sale of federal properties. These announcements will create much-needed housing that is affordable, energy efficient, near transit and good jobs, and reduce greenhouse gas emissions, nearly 30 percent of which comes from the building sector.

Office and commercial vacancies across the country are affecting urban downtowns and rural main streets. A new blog released today by the Council of Economic Advisers finds that office vacancies have reached a 30-year high from coast-to-coast, placing a strain on commercial real estate and local economies. At the same time, the country has struggled for decades with a shortage of affordable housing units, which is driving up rental costs, and communities are seeking new ways to cut emissions, especially from existing buildings and transportation.

The actions announced today build upon the initiatives in the White House Housing Supply Action Plan, which is lowering housing costs, boosting housing supply, and promoting fair housing, and the Administration’s actions to lower energy costs and tackle the climate crisis. Lowering costs, increasing access to good jobs, and building the clean energy economy are key tenants of Bidenomics — the President’s agenda to grow the economy from the middle out and the bottom up. 

Originally published on October 25, 2023, by the Federal Housing Finance Agency Office of Inspector General.

The Federal Housing Finance Agency has failed to adequately document desktop appraisal reports, and the lack of oversight can make it difficult to determine the effectiveness of the program and hinders the ability to detect trends or problems with the appraisals, the Office of Inspector General reported Oct. 25 in an audit of the FHFA's supervision of Fannie Mae's and Freddie Mac's use of desktop appraisals.

Originally published on October 23, 2023, by the White House.

Today, President Biden and Secretary of Commerce Gina Raimondo will announce the designation of 31 communities across the country as Regional Innovation and Technology Hubs (Tech Hubs) through the Department of Commerce Economic Development Administration. These Tech Hubs will catalyze investment in technologies critical to economic growth, national security, and job creation, and will help communities across the country become centers of innovation critical to American competitiveness. The Tech Hubs program was authorized by the CHIPS and Science Act – signed by President Biden in August 2022 – and is part of the President’s Bidenomics agenda to grow the economy from the middle out and bottom up.

Originally published on October 17, 2023 by Craig Steinley, MAI, SRA, AI-GRS, AI-RRS for the Appraisal Institute. 

The Appraisal Institute, the nation’s leading professional association of real estate appraisers, announced that the Appraiser Qualifications Board (AQB) has approved the certified residential real property credential (CR) path for the Appraisal Institute Practical Applications of Real Estate Appraisal (AI PAREA) program.
 
This follows the May approval and September public release of the AI PAREA licensed residential (LR) path, an online, simulated appraisal experience program that is an alternative pathway for aspiring appraisers to gain the required experience to become a licensed or certified appraiser. Historically, the primary option for an appraiser to complete experience hours was through a supervisor/trainee model that required the aspiring appraiser to find a supervisory appraiser.
 
“We are proud to be the first-to-market with this innovative program,” said Appraisal Institute Board President Craig Steinley*. “Following significant initial interest in our licensed residential path, we are determined to continue opening more virtual doors to new communities of aspiring appraisers.”

Originally published on October 11, 2023, by Bryan Mena for CNN.com

Most Federal Reserve officials said last month that they expect one more rate hike, according to minutes from their September policy meeting released Wednesday. Some officials said that how fast inflation cools in the coming months will determine how long rates remain elevated.

Originally published on October 9, 2023, by Tony Cantu for MPAMag.com.

The inspector general’s office of the Federal Housing Finance Agency has released its report on management and performance challenges for the upcoming year, key among them the continued conservatorship of the GSEs – both of which have a combined adjusted total risk-based capital shortfall of more than $400 billion, according to the document.

Originally published on October 5, 2023 by the Federal Housing Finance Agency (FHFA).

While the number of U.S. home appraisals and median appraised values declined year-over-year between the second quarters of 2022 and 2023, both indicators increased between the first and second quarters of 2023.​