Appraisal Issues on Capitol Hill Today

Today at 2:00 pm in Washington DC the House Committee on Financial Services is hearing testimony related to a number of appraisal issues. The hearing is entitled “Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses.” Based on the agenda and access to prepared comments, witness will address the role of AMC’s, appraisal independence, The Dodd-Frank Act, customary and reasonable fees, and other appraisal-related topics.

Of interest are the prepared comments of Don Kelly on behalf of Real Estate Valuation Advocacy Association (REVAA) and the Coalition to Facilitate Appraisal Integrity Reform (FAIR.) FAIR is a coalition of five of the nation’s largest AMCs who have engaged a K street law firm to lobby Congress on their behalf.

There have been a number of negative reactions from appraisers nationwide related to Mr. Kelly’s comments. Check the various appraiser website to get involved in the discussion. Frank Gregoire’s blog, Appraiser Active, has more information and some more opinions and links related to the hearing.

Here are some related links:

http://financialservices.house.gov/Calendar/EventSingle.aspx?EventID=250158

http://financialservices.house.gov/UploadedFiles/071311kelly.pdf

http://www.scribd.com/doc/44330612/Registration-by-K-L-GATES-LLP-to-lobby-for-Coalition-to-Facilitate-Appraisal-Integrity-Reform-FAIR-300308032

http://appraiseractive.blogspot.com/2011/07/us-house-committee-on-financial.html
 
 
 
 
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