Tuesday, July 3, 2012

Appraisers and Regulators Give Congress an Earful

On June 28, 2012, two panels of witnesses appeared before the Insurance, Housing and Community Opportunity Subcommittee of the U.S. House Committee on Financial Services. The hearing, held in room 2128 of the Rayburn House Office Building, started at 10:00 A.M. and continued for two hours.

The topic of the hearing, "Appraisal Oversight: The Regulatory Impact on Consumers and Businesses" was addressed in written testimony, oral presentations, questions and answers. The panel members, and links to the written testimony, are listed below.

Panel I
  • Mr. William B. Shear, Director, Financial Markets and Community Investment, Government Accountability Office
  • Mr. Don Rodgers, President, Association of Appraiser Regulatory Officials
  • Mr. James R. Park, Executive Director, Appraisal Subcommittee, Federal Financial Institutions Examination Council
Panel II
  • Mr. David Berenbaum, Chief Program Officer, National Community Reinvestment Coalition
  • Mr. David Bunton, President, Appraisal Foundation
  • Mr. Francois K. Gregoire, 2011 Chair, National Association of Realtors, Appraisal Committee
  • Mr. Don Kelly, Executive Director, Real Estate Valuation Advocacy Association (REVAA), on behalf of REVAA and the Coalition to Facilitate Appraisal Integrity Reform 
  • Ms. Karen J. Mann, President, Mann & Associates Appraisers, on behalf of the American Society of Appraisers
  • Ms. Sara Stephens, President, Appraisal Institute  
C-Span covered the hearing. The entire presentation is available below. Panel II starts about 50 minutes into the video.


Anonymous said...

Frank, Thank you for your comments on geographic competency. I have been apprasing in the county adjacent to the one I live in for over 16 years. I participated in that county's board of Realtors and have completed hundreds of residential reports. Since Frank-Dodd, almost all of the AMC's seem to have adopted the idea that geographic competency is simply living within a 30 mile radius of the subject property, and the number of assignments has dropped dramatically!

Anonymous said...

Don Kelly:

"First let me say that I love appraisers and our (REVAA) members love appraisers. The only thing that we love more than appraisers is the appraiser's fee".