It’s my privilege to share that AI has joined forces with Fannie Mae on a terrific partnership to  promote valuation careers. Here’s more about that, and other timely updates, from the past month.

AI, Fannie Mae Join Forces to Promote Diversity in Valuation Profession

You might be interested to know that the Appraisal Institute is joining with Fannie Mae to promote appraisal careers and to foster diversity in the valuation profession.

AI is serving as co-lead on Fannie Mae’s Appraiser Diversity Pipeline Initiative with the National Urban League and Altisource. The initiative is intended to attract new entrants to the residential appraisal field, overcome barriers to entry (such as education, training and experience requirements) and to foster diversity.

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I’m pleased to report that the Appraisal Institute continues to advocate in Washington, D.C., on behalf of its membership and the entire valuation profession. Here’s more about that, and other timely updates, from the past month.

AI Opposes Banks’ Residential Appraisal Threshold Increase

As you might have heard, federal banking regulators on Aug. 20 approved a final rule to increase the residential appraisal threshold from $250,000 to $400,000.

The Appraisal Institute continues to oppose this effort by bank regulators that threatens consumer protection and safety and soundness. While not surprised, we are very disappointed that the regulatory agencies have focused on regulatory relief at the expense of protecting homebuyers. The consequences could be substantial.

The Appraisal Institute fought to retain the existing threshold level during its review of the Economic Growth and Regulatory Paperwork Reduction Act several years ago, warning — and continuing to warn — federal banking agencies and congressional allies that the threshold increase could harm financial institutions and consumers.

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I’m pleased to report that AI once again took a leadership role in advocating for the valuation profession in our nation’s capital. Learn more about that, and other timely updates, from the past month.

AI Condemns NCUA Action on Appraisal Thresholds

The Appraisal Institute on July 19 vigorously condemned 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. The organization further called for congressional oversight.

The NCUA Board of Directors quadrupled – from $250,000 to $1 million – the appraisal threshold for nonresidential real estate loans.

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