Appraisal Subcommittee Archive

Appraisal Subcommittee Hotline is Live (877-739-0096)

The Hotline is an information resource to help complainants determine the appropriate legal authority to receive their complaint involving allegations of non-compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) or appraisal independence requirements. How it works: You...

GAO Report on ASC Hits the Street

Yesterday, the US Government Accountability Office (GAO) released their report on real estate appraisals “Appraisal Subcommittee Needs to Improve Monitoring Procedures” as required per Dodd-Frank. GAO was tasked with 1) determining how the Appraisal Subcommittee (ASC) is carrying out...
January 19, 2012

Here’s What You Need to Know About HR 4173

As you surely know by know, the President recently signed into law the Frank-Dodd Wall Street Reform and Consumer Protection Act (HR 4173).  Title XIV of the legislation, the Mortgage Reform and Anti-Predatory Lending Act, has significant appraisal reforms...

Appraisal Subcommittee Hires Executive Director

In what is surely a bit less than breaking news… The Appraisal Subcommittee today announced its new Executive Director, Jim Park. According to the press release, Mr. Park has more than 23 years of mortgage banking and appraisal experience....

Fannie Mae and Freddie Mac to Require Identifiers on Mortgage Applications

From the FHFA: Washington, DC – James B. Lockhart, Director of the Federal Housing Finance Agency, announced today that, effective with mortgage applications taken on or after Jan. 1, 2010, Freddie Mac and Fannie Mae are required to obtain...
January 26, 2009

Appraisal Subcommittee Director Quits after First Day

I heard a rumor about this through the appraisal grapevine, but never saw anything substantial to verify it. However, according to the AP, the Appraisal Subcommitee’s new Director, Linda Nessi, quit after her first day on the job. Government...
October 29, 2008

Just How Effective is the Appraisal Subcommittee?

The AP recently published a fascinating article on the appraisal regulatory structure. There are countless quotes in the article that we will likely discuss in the future. However, the portion that stood out most to me is the one...
August 18, 2008