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Appraisal Institute Media Coverage Seen by Nearly 2 Billion

The Appraisal Institute and its professionals were mentioned in more than 1,500 news stories in the last six months of 2019, with an audience of nearly 2 billion. The Appraisal Institute’s latest video outlines that coverage.

As the nation’s largest professional association of real estate appraisers, the Appraisal Institute continues to position its individuals as the go-to source for information on real property valuation.

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New AI video: Appraisal Institute Plans for 2020

2020 Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS, outlines the organization’s priorities for the year in AI’s latest video.

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Save the Date for the 2020 Appraisal Institute Annual Conference!

The Appraisal Institute will host its Annual Conference Aug. 3-5, 2020, in Orlando, Florida. This event promises to be a fantastic opportunity for valuation professionals to learn, network and have fun. Watch the Appraisal Institute’s latest video to learn more about the valuation profession’s biggest event of the year.

Real estate professionals from around the world are invited to join and:

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AI Honors Sheri Colvin, MAI with Volunteer of Distinction Award

On January 8, 2020, the Appraisal Institute honored Sheri Colvin, MAI, with the Volunteer of Distinction Award. The Appraisal Institute’s recognition program honors volunteers for their service to the Appraisal Institute, to the real estate valuation profession and to their local communities.

Sheri Colvin, MAI, has been appraising since 1994, and was the 2019 president of the North Carolina Chapter of the Appraisal Institute. She is a founder and principal with Colvin, Sutton, Winters and has been with the company since its inception in 2006. She is a graduate of the University of N.C. at Greensboro, holds an N.C. State Certified General appraiser license, an NC Real Estate Broker license, and the MAI designation from the Appraisal Institute. For the North Carolina chapter of the Appraisal Institute, she currently serves on the Executive Board as well as chairing and participating in various committees. Other associations include being a guest speaker for the 2013 annual CCIM Triad Market Forecast, former board member of the local chapter of CREW (Commercial Real Estate Women), former LDAC participant/chapter representative through the Appraisal Institute (Leadership Development and Advisory Council), and current member of TREBIC (Triad Real Estate & Building Industry Coalition).

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Pursuing an Appraisal Institute Designation

Four Appraisal Institute Designated Members shares why they think others should consider pursuing a designation in AI’s latest video.

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FHFA Issues Request for Input on Fannie Mae and Freddie Mac UMBS Pooling Practices

The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) about Fannie Mae’s and Freddie Mac’s (the Enterprises’) pooling practices for the formation of “To-Be-Announced” (TBA)-eligible Uniform Mortgage-Backed Securities (UMBS).  FHFA is also seeking public input about other policies and practices that might affect UMBS fungibility, including the Enterprises’ oversight of UMBS prepayment speeds and alignment.

This RFI follows on the successful launch of UMBS and seeks to ensure that UMBS remain a source of stable, affordable liquidity for the U.S. housing finance system.  The requested input will help FHFA determine whether further action or alignment is necessary to ensure reasonably consistent security cash flows and continued fungibility of the Enterprises’ UMBS.

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Governor Roy Cooper Appoints Lynn Carmichael, MAI, and Claire Aufrance, MAI, SRA, to the North Carolina Appraisal Board

The North Carolina Chapter of the Appraisal Institute would like to inform our members that Governor Roy Cooper has appointed Lynn Carmichael, MAI, and Claire Aufrance, MAI, SRA, to the North Carolina Appraisal Board. We congratulate both Lynn and Claire on their appointments and we thank them for their willingness to be leaders in the appraisal industry. We wish them all the best in their endeavor to promote the highest standards for real estate appraisal practice for the protection of the public trust. 

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Appraisers Provide a Wide Variety of Services, Appraisal Institute Says

Hiring a Designated Member of the Appraisal Institute can provide a broad range of benefits to commercial and residential clients, the president of the nation’s largest professional association of real estate appraisers said today.

“When hiring a valuation professional, clients should first understand the role of an appraiser,” said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. “The appraiser’s role is to provide objective, impartial and unbiased opinions about the value of real property — helping those who own, manage, sell, invest in and lend money on the security of real estate.”

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Wide Range of Big-Box Values Raises Concerns: The Appraisal Journal

Courts, market participants and valuation professionals have expressed widespread concern about the broad range in real estate values presented by opposing litigation experts regarding single-tenant, big-box properties, according to an article published this week in The Appraisal Journal.

The Appraisal Journal is the quarterly technical and academic publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers. The materials presented in the publication represent the opinions and views of the authors and not necessarily those of the Appraisal Institute.

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Banking Committee Leaders Seek Answers on Appraisal Waiver

Rep. Maxine Waters, D-Calif., and Sen. Sherrod Brown, D-Ohio, on Sept. 24 submitted a letter to the Appraisal Subcommittee seeking answers about its July decision to grant a waiver of appraiser certification and licensing to the state of North Dakota. The letter expressed “surprise and concern” about the “unprecedented” waiver.

Waters chairs the House Financial Services Committee and Brown is ranking member of the Senate Banking, Housing and Urban Affairs Committee.

“It is so concerning that the ASC, the primary federal organization with oversight over appraisal and appraiser standards, has acted to waive appraiser certification requirements with minimal justification,” the letter stated, noting that appraisals are essential to safety and soundness and consumer protection. The letter explains that the move is unprecedented because the ASC has not granted any waivers since the Federal Financial Institutions Examination Council first fully implemented appraisal rules. In granting this one, the ASC ignored the objections of the North Dakota Real Estate Commission.

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New Passwords Required for ‘My Account’ Section of Appraisal Institute Website

The Appraisal Institute launched a new online association management system, or AMS, on Oct. 1. AI professionals and customers must change their passwords in order to access the My Account section of the AI website.
 
A short training video on AI’s YouTube channel shows users how to change their My Account passwords.
 
The new AMS online membership database and customer relationship management software platform is the foundation for almost every service and product that AI offers. It provides an intuitive, much-improved online experience with a more modern look and feel, allowing AI professionals, customers and staff to more easily access information.
 
Users will enjoy benefits such as:
  • Increased user accessibility to data;
  • Improved business processes and efficiencies;
  • Integrated web experience; and
  • Self-service capabilities that will make interactions with AI simpler and more convenient.
The My Account area of the AI website is completely new, including improvements to education search and registration, the online store, membership profiles, and Find An Appraiser profiles. AI professionals also will find improvements to self-service functions such as printing a transcript, paying dues and fees, candidate checklists, and volunteer information.

58 Members Received Designations from the Appraisal Institute in August & September

The Appraisal Institute designated 26 members in August, including one who received his MAI and SRA designations. Additionally, 17 received their MAI designation, four received their SRA designation and four received their AI-GRS designation. The Appraisal Institute designated 58 members in September, including; and 39 who received MAI designations; 6 who received SRA designations; 10 who received AI-GRS designations; 3 who received AI-RRS designations.

Special congratulations to NCAI members William M. Best, MAI; Stephen M. Worthy, AI-GRS; and John C. Palmer, MAI.

View the list here.

ASB Mulls Evaluations Standards; Paper Expected Soon

The Appraisal Standards Board of The Appraisal Foundation on Aug. 1 announced its intention to explore the creation of uniform standards for evaluations. The ASB said that since no standards exist for conducting evaluations, there is greater risk to the safety and soundness of real estate transactions and diminished protections for consumers. A concept paper is expected near Labor Day. 

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Court Grants Stay of Motion in FTC Case Against LREAB

A Louisiana court on July 29 granted a motion to stay in the Federal Trade Commission's case against the Louisiana Real Estate Appraisers Board in which it alleged the LREAB illegally determined a floor for appraiser prices. The court ruled that, among other things, continuing the case would hamper the state's ability to make and enforce policies.

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New AI Video: AI Media Coverage Seen by Nearly 1 Billion

The Appraisal Institute works to represent the valuation profession in media coverage across the country. From January-June 2019, the Appraisal Institute and its professionals were included in more than 1,200 stories in 430 unique media outlets, with a potential audience of nearly 1 billion and a publicity value of more than $1.2 million.

The Appraisal Institute’s latest video shows some of the highlights in media coverage over the past six months, including stories in National Mortgage News, U.S. News & World Report, The Wall Street Journal and Rolling Stone.

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Appraisal Institute Board of Directors Approves 2020 Budget at Q3 Meeting in Denver

The Appraisal Institute Board of Directors at its July 25-26 meeting in Denver approved the organization’s 2020 budget and directed to 45-Day Notice proposed amendments to Regulations No. 7 and 8 regarding creation of state Government Relations Subcommittees under the current national Government Relations Committee.
 
In other business, the Board of Directors:
  • Approved the creation of a Women’s Initiative Committee.
  • Revised the organization’s policies for AI education instructors regarding waivers, conduct and evaluations;
  • Amended AI’s Statement of Investment Policy; and
  • Adopted the dues and fees schedule for 2020:
    • Deadline on dues/fees invoice payment: Jan. 1
    • Late fees assessed at 15%: April 1
    • Suspensions issued: June 1
    • Terminations issued: Sept. 1.
The Board also elected to two-year terms beginning Jan. 1:
  • Matthew S. Myers, MAI, of Leeds, England, as the international member on the AI Board of Directors;
  • Scott Robinson, MAI, SRA, AI-RRS, AI-GRS, as chair of the Strategic Planning Committee;
  • Claire M. Aufrance, MAI, SRA, to the Strategic Planning Committee; and
  • Michael J. Mignona, MAI, AI-GRS, and Craig Steinley, SRA, AI-RRS, to the Audit Committee.
Additionally, the Board elected Peter A. Vimini, MAI, to the Professional Liability Insurance Program Committee for a three-year term. He also was elected to fill a vacancy on PLIPC for a term ending Dec. 31.  
 
The Board’s next meeting is scheduled for Nov. 14-15 in Chicago.

Jody Bishop Elected 2020 Appraisal Institute Vice President

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Mount Pleasant, South Carolina, was elected 2020 vice president of the nation’s largest professional association of real estate appraisers Thursday by its Board of Directors in Denver.

Bishop’s one-year term at the Appraisal Institute will begin Jan. 1, followed by one year each as president-elect, president and immediate past president. He will serve on AI’s Executive Committee and the policy-making Board of Directors all four years. He also will chair the Finance Committee in 2020 and the National Nominating Committee in 2023.

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More than 525 Attend Appraisal Institute's Annual Conference in Downtown Denver

More than 525 real estate professionals from around the world attended the opening session of the valuation profession’s most important annual event, hosted by the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

The 2019 Appraisal Institute Annual Conference, held at the downtown Hyatt Regency Denver, featured world-renowned keynote speakers, 30 breakout sessions on trend-setting valuation topics, networking opportunities for industry professionals, an exhibit hall featuring cutting-edge products and services and an awards ceremony honoring the valuation profession’s best and brightest.

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White House Plans September Release for Proposed Reforms to Fannie, Freddie

By Pete Schroeder and Richard Leong

The Trump administration’s hotly anticipated blueprint for overhauling mortgage guarantors Fannie Mae and Freddie Mac may not be published until September as the U.S. Treasury juggles several other pressing issues, the housing regulator told Reuters.

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AI Condemns NCUA Action Quadrupling Appraisal Threshold

The nation’s largest professional association of real estate appraisers vigorously condemned today’s action by the National Credit Union Administration, calling the NCUA’s decision to effectively reduce the number of appraisals required for commercial real estate loans irresponsible, radical and dangerous.

“This is an outlandish scenario for anyone who cares about the safety and soundness of the nation’s commercial real estate lending system, and it could recreate conditions that led to the financial crisis of the late 2000s,” said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. “The NCUA’s ill-conceived, damaging decision shows overwhelmingly the need for immediate, rigorous congressional oversight.”

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