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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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Video: Reasons to Pursue a Valuation Career

 

Two Appraisal Institute Designated Members share why they think someone should consider being an appraiser in AI’s latest video.

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58 Members Received Designations from the Appraisal Institute in June

The Appraisal Institute designated 58 members in June, including; 1 who received MAI AND SRA designations; and 40 who received MAI designations; 3 who received SRA designations; 12 who received AI-GRS designations; 2 who received AI-RRS designations.

View the list.

The Latest Issue of Valuation Magazine is Now Available

Read the latest issue of Valuation magazine. 
The nation's hospitality sector has enjoyed a decade-long hot streak, with transaction volume expected to total $36.5 billion this year and some 5,530 new rooms under construction. Will the good times last? That's the question appraisers say needs serious consideration, with most believing there may be room for correction.
 
The new federal opportunity zones program encourages private investors to fund projects in underserved geographic areas — an idea promising to benefit neighborhoods in need and investors who capitalize the ventures. Importantly, it also has the potential to create numerous opportunities for appraisers.
 
When valuing a property, it's not uncommon for appraisers to state that the property's highest and best use is different from its current use. But what happens in situations involving conflicting highest and best use analyses? Read what the courts have said about these complex concerns.

Read the latest issue of Valuation magazine

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Appraisal Institute Urges Congress to Address Valuation Issues

The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during today’s hearing on Capitol Hill.

Stephen S. Wagner, MAI, SRA, AI-GRS, told the House Financial Services Committee’s Housing, Community Development and Insurance Subcommittee that the Appraisal Institute supports passage of H.R. 2852, which would allow licensed appraisers to perform appraisals for Federal Housing Administration loans.

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Appraisal Institute Leaders Address Timely Topics at Major Industry Events in June

The Appraisal Institute announced June 26 that its elected officers and others represented the organization at major industry events during the past month.

President Stephen S. Wagner, MAI, SRA, AI-GRS; Vice President Rodman Schley, MAI, SRA; Immediate Past President James L. Murrett, MAI, SRA; and CEO Jim Amorin, MAI, SRA, AI-GRS, attended the Appraisal Institute of Canada Annual Conference, June 5-8, in St. John’s, Newfoundland.

Wagner and Amorin also attended the Institute for Professionals in Taxation Annual Conference, June 23-26, in San Antonio.

President-Elect Jefferson L. Sherman, MAI, AI-GRS, represented AI at the International Right of Way Association Education Conference, June 9-12, in Portland, Oregon, where he sat on the panel for “Corridor Valuation: An Overview and New Alternatives.” AI also exhibited at the event.

AI’s 2016 President, Scott Robinson, MAI, SRA, AI-GRS, AI-RRS, participated in the International Valuation Standards Council/World Association of Valuation Organizations Global Valuation Conference, June 13-14, in Frankfurt, Germany, where he presented on “Impact and Opportunity of Technology-Based Valuation.” AI’s 2010 President, Leslie P. Sellers, MAI, SRA, AI-GRS, represented the Appraisal Institute at a June 18 meeting of the International Valuation Standards Council’s Advisory Forum Working Group in London, England.

Appraisal Institute Seeks Candidates for SPC Chair; Materials Deadline is Tomorrow (7/10)

The Appraisal Institute Board of Directors will elect at its July 25-26 meeting in Denver a chair of the Strategic Planning Committee to serve a two-year term beginning Jan. 1, 2020. 
 
AI professionals interested in the position should submit a statement of qualifications to Joan Barngrover at [email protected] and complete the Leadership Resources Registry at www.myappraisalinstitute.org/myappraisalinstitute/my_lrr.aspx. The deadline for submitting materials for consideration is July 10. 

Appraisal Institute Urges Congress to Address Valuation Issues

The president of the Appraisal Institute, the nation’s largest professional association of real estate appraisers, encouraged Congress to act on valuation topics during yesterday’s hearing on Capitol Hill.

Stephen S. Wagner, MAI, SRA, AI-GRS, told the House Financial Services Committee’s Housing, Community Development and Insurance Subcommittee that the Appraisal Institute supports passage of H.R. 2852, which would allow licensed appraisers to perform appraisals for Federal Housing Administration loans.

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New AI video: Benefits of Being an Appraiser

AI Distributes 45-Day Notice on Proposed Amendments to Regulation Nos. 1 and 2

The Appraisal Institute on June 10 distributed to AI professionals a 45-Day Notice regarding proposed amendments to Bylaws and Regulation Nos. 1 and 2.
 
The proposal concerns demonstration of knowledge options, and is expected to have minimal financial impact. AI’s Board of Directors will consider the proposed amendments at its July 25-26 meeting in Denver.
 
Comments should be sent to [email protected].

Call to Action: Please Support NCAI Members for NCAB

We have the opportunity to support two of our chapter members as they seek a position on the North Carolina Appraisal Board. There is no group more qualified to represent appraisers on the appraisal board than members from the North Carolina Chapter of the Appraisal Institute. Our organization has historically had members on the board. Please join in the effort to promote our organization on this vital regulatory board. Help promote our members who have volunteered to be nominated to the board; Lynn Carmichael, MAI, from the Asheville Area, and Claire Aufrance, MAI, SRA from the Greensboro Area. 

To support the chapter please click the button below to send the governor a supportive recommendation for these members.

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National Nominating Committee Nominates Jody Bishop as 2020 AI Vice President

Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, of Charleston, South Carolina, was nominated for 2020 Appraisal Institute vice president by the AI National Nominating Committee at its May 8 meeting in Chicago.

National Nominating Committee Chair James L. Murrett, MAI, SRA, submitted the committee’s nomination to the AI Board of Directors at its May 9-10 meeting in Chicago. Board members may file petitions for additional nominees in accordance with the Appraisal Institute Bylaws. The AI Board of Directors is expected to elect the 2020 vice president at its July 25-26 meeting in Denver.

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Appraisal Institute Designates 40 Members in April

The Appraisal Institute designated 40 members in April, including; and 20 who received MAI designations; 5 who received SRA designations; 10 who received AI-GRS designations; 5 who received AI-RRS designations. Special congratulations to NCAI members, David Ivey, AI-GRS and Thomas Lott, MAI, AI-GRS.

View list here.

 

Appraisal Institute Leaders Address Key Issues at Major Real Estate Events

The Appraisal Institute announced April 24 that its elected officers and others represented the organization at major industry events during the past month. 
 
Chief Executive Officer Jim Amorin, MAI, SRA, AI-GRS, served on a panel at the American Real Estate Society (commonly known as ARES) Annual Meeting on April 9-13 in Scottsdale, Arizona, on the relationship between universities and associations, and attracting new individuals into the valuation profession. AI also exhibited at this event. 
 
Immediate Past President James L. Murrett, MAI, SRA, represented AI at the Risk Management Association (commonly known as RMA) CRE Appraisal Manager Forum on April 11-12 in Las Vegas, where he led a discussion on the appraisal regulatory environment.
 
President Stephen S. Wagner, MAI, SRA, AI-GRS, attended the Residential Energy Services Network (commonly known as RESNET) board meeting on April 17 in Olympic Valley, California, where he discussed the AI-RESNET partnership.
 
Wagner also participated in a media tour on April 3-4 in New York, where he met with reporters at The Wall Street Journal, National Mortgage News, Money magazine, Realtor.com and The Mortgage Leader.