ICAP Participates NSAO Meeting, Washington, D.C.

October 16, 2015:

by Karen Emerle, SRA

ICAP is one of 21 State appraiser coalitions currently participating in the Network of State Appraiser Organizations (NSAO). On October 16, 2015, NSAO held a Work Group meeting at the National Association of Realtors (NAR) offices in Washington, D.C. NAR graciously provided use of their conference room for NSAO’s day-long meeting.

ICAP Director, Karen Emerle, SRA, attended the afternoon segment. She was one of 15 members, representing 13 State appraisal coalitions, present at NSAO’s Washington, D.C. Work Group meeting. Current issues affecting appraisers, legislation and/or litigation updates relevant to the individual States were shared by participants. The Work Group will continue to pursue issues germane to all State coalition members.

2015 NSAO Meeting, Washington, D.C.

2015 NSAO Meeting, Washington, D.C.

NSAO’s focus is on improving the appraisal industry and protecting the consumer. In an effort to further those goals, participants agreed future meetings should be bi-annual and scheduled to coincide with AARO’s Spring and Fall conference dates and locations.

Mortgage Bankers Association (MBA) representatives William Kooper, MPA, Tamara I. King, and Matt Jones attended the afternoon meeting. William Kooper, MPA, is the Associate Vice-President of State Government Affairs & Industry Relations. Tamara I. King is the Associate Vice-President of Loan Production and Member Engagement, Residential Policy. Matt Jones is the Regulatory Assistant, Residential Policy and Member Engagement.

The dialogue focused on topics of concern and interest to NSAO members.  Recent FHA/HUD compliance issues raised the question, “What is the responsibility of the appraiser versus the lender’s responsibility?” Various vendor management practices which affect or could affect appraiser independence, the latent time delay utilized when ordering appraisals, Fannie Mae and CU issues, and the change needed which would allow appraiser trainees to sign reports were discussed.

MBA noted under the new Rule, effective August 10, 2015, AMCs are required to report every appraiser on their panel. How does the AMC National Registry database get built? What fields should be built into it? In those States that already have AMC regulations, what is working, and what is not working? The link to the Federal Register, Vol. 80. No. 110, Minimum Requirements for Appraisal Management Companies; Final Rule is: http://www.gpo.gov/fdsys/pkg/FR-2015-06-09/pdf/2015-12719.pdf.

MBA was receptive to finding areas in which a consensus might be reached and/or areas where working together would be beneficial to all parties involved.  ICAP will keep its members updated as things develop.

To view the official press release click here

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ICAP was established in 1994 to be a unified voice for Real Estate Appraisers in the State of Illinois

Posted on October 26, 2015, in ICAP at AARO, ICAP In The News and tagged , , , . Bookmark the permalink. 2 Comments.

  1. That is sweet of the NAR to lend you one of their offices. I believe the NAR is the largest PAC of them all? Accounting for near 50% of total PAC contributions made (at both State and Fedral levels). When will the NAR realize the importance of accurately reported MLS data? Hammer appraisers and mtg brokers as much as you want, but until MLS accuracy improves we’re all going to have problems.

  2. The notes from your meeting are encouraging – and mirror much of the program that was presented during AARO’s conference Oct. 16-20. As the regulators’ association, we would welcome collaborative discussion on topics of mutual concern – specifically the barrier that currently exists that prohibits ANY significant contribution from trainee appraisers. This topic was discussed on Oct. 15 during the Industry Advisory Council of TAF, and, lo and behold, one very large lender has already begun to develop a system to address this area. As AARO 2015-16 President, I think I’m on firm ground with my board to say, “How can we work together??”

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