The Appraisal Institute commends the National Association of Homebuilders for creating guidelines to foster increased cooperation and information sharing among professionals that play a key role in the home buying process.
As the industry leader in green and energy-efficient valuation, the Appraisal Institute in September issued an optional addendum to Fannie Mae Form 1004, the appraisal industry’s most widely used form for mortgage lending purposes.
Currently, the contributory value of a home’s green features is rarely part of the equation. The Appraisal Institute’s new form will help the industry standardize the way residential energy-efficient features are analyzed and reported.
The Appraisal Institute Board of Directors in 2010 approved a new strategic vision that will transition the organization from a professional association to a professional society. As part of that goal, the Board in October 2011 sent notice of proposed bylaws changes to AI members that would create a Candidate for Designation Program. The Board is expected to vote in December 2011.
Appraisal Institute members provide volunteer service to their organization, their profession and their communities.
The Appraisal Institute’s member recognition program honors members for their volunteer service to the Appraisal Institute, to the real estate valuation profession and to their local communities. Each month, the Appraisal Institute recognizes one honoree in each region as a Volunteer of Distinction. [Read more…]
Consumers deserve to know what they’re paying for, and the nation’s largest professional association of real estate appraisers is calling on the federal Consumer Financial Protection Bureau to require more transparency on home buyers’ forms.
The Appraisal Institute, in a joint letter with the American Society of Farm Managers and Rural Appraisers, asked the CFPB on Nov. 16 to separate appraisal fees from administration and processing fees on the settlement forms that consumers receive when purchasing a home. (Created by Congress, the CFPB oversees consumer disclosure laws and is authorized to develop new forms to inform consumers about charges assessed in processing mortgage loans.) [Read more…]
The Appraisal Institute is pleased to announce the launch of our blog, Opinions of Value. Whether it’s the appraiser perspective on a legislative or regulatory issue, enhanced discussion about recent industry media coverage, or thoughts from AI leaders about upcoming trends, we hope that our readers always will find value in the opinions, perspective and information that we’ll share.