"Four national associations of real estate appraisers have asked Congress* for major regulatory reforms in the wake of an Associated Press investigation that identified key failings within the existing system."
*Thanks to Scott Austin, Austin Appraisal, LLC, I now have a copy of the letter sent by the AI, ASA, NAIFA, and ASFMRA Download AI_ASA_ASFMRA_NAIFA_Response_Letter_AP.pdf
*Thanks to Scott Austin, Austin Appraisal, LLC, I now have a copy of the letter sent by the AI, ASA, NAIFA, and ASFMRA
Download AI_ASA_ASFMRA_NAIFA_Response_Letter_AP.pdf
Naturally . . .the organizations suggest that the use of designated appraisers from a nationally recognized professional appraisal organization " . . .would help mitigate concerns about appraiser involvement in mortgage fraud.
But they go on to specifically address Title XI which, " . . . has several structural deficiencies that we previously identified, which are highlighted in the Associated Press article, as follows: "
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