Welcome to VaCAP VaCAP works to promote the appraisal profession and its image to elected and appointed public officials in the Commonwealth of Virginia, the users of appraisal services, and the general public. VaCAP initiates discussion and analysis of issues affecting professional appraisers and monitors the actions of State governmental bodies with the intent to… Read More: Welcome to VaCAP »
An Appraisal Management Company has one purpose, to be an unbiased third-party middleman between the lender and the appraiser. Their sole purpose is to eliminate undue pressure on the appraiser; to insure appraiser independence. This is mandated in both Federal and State Statutes throughout the country. When you provide pressure, threaten a complaint to the… Read More: Suspended – AMC & Chief Review Appraiser »
There is a story going viral on social media concerning a cover up between the Appraisal Institute, REVAA and appraisal management companies. If you are on any of the appraisal forums or appraisal groups, we are positive you have seen the articles and video already. The story initially broke with a New York Times article,… Read More: Hot Topic »
A few days ago the Appraisal Regulation Compliance Council shared a very important matter in which all appraisers need to comment: From ARCC’s website: “The Appraisal Subcommittee (ASC) has proposed the Appraisal Subcommittee Enforcement Authority Rule, which seeks to expand its authority. Public input is critical to determine whether this expansion is the solution or… Read More: Your Feedback is Requested »
Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust. Appraiser Fest was not about promoting the profit of others at the expense of… Read More: When Things Go Unchecked….. »
A fellow appraiser is in need of your assistance. Many of you may have heard a Maryland Appraiser, Shane Lanham is the defendant in a law suite for a “low opinion of value based on the race of the homeowner.” Shane is counter suing the accuser for defamation as this has been a very publicized… Read More: Don’t Leave Him to the Sharks »
VaCAP is sharing a special message from Cindy Chance, CEO, Appraisal Institute. We ask you share this everywhere as the bias narrative the media has spread needs to change. Consumers deserve the truth!
The County of Henrico is sponsoring a USPAP UPDATE class on April 8th. There are only 10 seats left and VaCAP has been asked to help fill the class. This class is a live-on-line class and will meet CE requirements. If you are interested, please complete the registration below and email it to CAR175@Henrico.us. Registration… Read More: USPAP UPDATE CLASS »
The local television station WWBT, NBC 12 in the Richmond market is airing a story on Thursday February 22 during the 6:00 News Broadcast about racial bias in real estate appraisals. We know this is not a new topic and previous stories that have aired have been extremely one sided and not from the appraiser’s… Read More: It’s Just Responsible Journalism »
House Bill 53 has been introduced into the 2024 Virginia General Assembly, directly impacting Virginia Real Estate Appraisers. The legislation introduced by R. Lee Ware places a statute of limitations for damages against appraisers and appraisal management companies at 5 years. SUMMARY AS INTRODUCED: Actions against real estate appraisers or appraisal management… Read More: New Legislation Impacting Appraisers »
At the recent Virginia Appraisal Board Meeting on Wednesday June 28th, a discussion occurred about Appraisal Management Companies prohibiting appraisers from including their invoices with the appraisal report. The overall consensus of the Board Members was this practice could be a violation of Virginia Appraisal Management Company Statute § 54.1-2022 B. “B. The appraisal… Read More: Could it be True? »