Third Quarter 2019

VA Changes Appraisal Process 
To ensure that veterans don’t have to pay for an appraisal if they end up not qualifying for a VA loan, the Department of Veterans Affairs is now requiring that the certificate of eligibility be in "Active or Pending" status when ordering an appraisal.

AI President Urges Congress to Pass Key Legislation
Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS, recommended at the House Financial Services Committee’s Housing, Community Development and Insurance Subcommittee’s June 20 hearing on Capitol Hill that Congress pass HR 2852, which would allow licensed appraisers to perform appraisals for Federal Housing Administration loans.

North Dakota Appraisal Requirement Waiver Request
The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) has received a request for a waiver of appraiser credentialing requirements for appraisals for federally related transactions under $500,000 for 1-to-4 family residential real estate transactions and under $1,000,000 for agricultural and commercial real estate transactions throughout the State of North Dakota for a period of not less than five years. Learn more

Appraisers are an endangered species. Will tech sink or save them?
By Elina Tarkazikis, National Mortgage News
Digitalization's impact on the mortgage industry has been broad: Analytics are helping lenders identify potential clients before they start house shopping and would-be borrowers can get qualification estimates with the click of a button, upload and sign documents electronically.

For all the progress, whether in terms of the elimination of paper at various steps or the ability to accelerate certain aspects of the process, the mortgage industry has barely made a dent in terms of reducing closing times. One reason for that, many mortgage professionals say, is due to a logjam that exists specifically at the point of the appraisal.
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Upcoming Events 

October 16: Building a Better Central Oregon
October 24: Fall Happy Hour at Wild Ride
December 13: Holiday and Installation Party
Upcoming Appraisal Class Offered in Medford


July 31: Supervising Appraiser/Appraiser Assistant Training Course

The Course is designed to provide important guidance to supervising appraisers and prospective appraiser assistants as they begin their training to enter the appraiser profession.

A major focus of the Course will be the review of Oregon Administrative Rules and Statutes as they pertain to obtaining and maintaining a licensing credential include an in-depth review of the forms and documentation required by the Oregon ACLB. A key component will be to provide participants with a greater understanding of the specific roles and responsibilities of supervising appraisers and appraiser assistants in the training process. 4 Hours of continuing education credit for supervising appraisers.

August 2: Unraveling the Workfile Mystic

USPAP and the State Licensing Board require an appraiser to keep a workfile for every assignment, a rule that causes anxiety and apprehension for many practitioners. This course is designed to address the most common question appraisers have – what is the Board looking for in a workfile? We will concentrate on key components of a typical audit, common shortcomings in workfiles and gain a better understanding of the importance of key terms such as summarize and analyze in relation to workfile compliance. The 4-hour course also will include an overview of the complaint investigation process and the most common violations.

For more information contact the Rogue Valley Association of REALORS Appraiser cources, contact Susan Ladue at susan@roguevalleyrealtors.org.