This month, I’m pleased to report that the Appraisal Institute has been particularly active in Washington, D.C., representing the interests of its members and those of the valuation profession.
AI Tells Congress of ‘Dangerous’ Regulation
During my Capitol Hill testimony, June 28, on behalf of the Appraisal Institute, I warned the House Financial Services Committee’s Subcommittee on Insurance, Housing and Community Opportunity that a “new and excessive” form of regulation is about to be enacted without Congressional authorization, and that such a scheme could damage the valuation profession.
I further testified to the Capitol Hill hearing that although appraising is the most heavily regulated activity within the mortgage and real estate sectors, appraiser regulatory agencies are planning to enact further changes that would threaten to tie the hands of appraisers, curtail innovation and increase regulatory burdens on appraisers and financial institutions.
The Appraisal Institute offered a seven-part legislative proposal to realign the appraisal regulatory structure.