News & Articles

Recent
Maryland House Bill (HB) 42 Withdrawn
I just wanted to give all AI members in Maryland a quick update as to what occurred yesterday in Annapolis yesterday regarding HB 42 – the legislation that would have prohibited appraisers from appraising commercial and residential property if they had knowledge of the contracted selling price.

Prior to the hearing, myself and Hal Powell, MAI and Beth Reidel met privately with Delegate Conaway. As we had suspected, although well intentioned, he had been unaware that the bill's restrictions inadvertently did more harm than good, in addition to being both counterproductive and unrealistic. He was extremely receptive to learning the facts and as a result of our discussion, the Delegate came away with a much greater understanding of the issue of appraiser independence.

During the meeting, alternative language regarding appraiser independence was offered to Delegate Conaway. Based upon our offering of this language, Delegate Conaway agreed to withdraw HB 42 prior to the hearing before the House Economic Matters Committee. He is now in the process of drafting alternative legislation regarding appraiser independence, which will be introduced shortly in the House of Delegates. This will be similar to laws that have been passed in 45 other states. I believe that this will be legislation that appraisers can strongly support. The language is likely to be something similar to the following:

No person may make any payment, threat or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a residential mortgage loan, or make any payment threat or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property;

We greatly appreciate the work of all that took the time to contact your legislators on this legislation. Even though we were able to secure the withdrawal of the legislation prior to the hearing, it is likely that, based upon the sheer volume of letters that were received and all of the organizations that were opposed, that HB 42 would have been defeated in the Economic Matters Committee. Thanks again for everyone’s collective efforts in defeating this bill.

The withdrawal of HB 42 prior to the meeting meant that no oral testimony before the committee was required. However, we would like to thank the following organizations for showing up and being prepared to testify in opposition – the Maryland Chapter, DLLR/the Commission of Real Estate Appraisers and Home Inspectors, Union of Real Estate Appraisers, Maryland Bankers Association, Maryland Association of Realtors, the Greater Baltimore Board of Realtors, and several individual appraisers who took the time to show up in Annapolis.

Please let me know if you have any questions.

SD
Scott W. DiBiasio
Manager, State and Industry Affairs
Appraisal Institute
122 C Street, NW, Suite 360
Washington, D.C. 20001
T 202-298-5593
F 202-298-5547
sdibiasio@appraisalinstitute.org
www.appraisalinstitute.org

Appraiser Job Bank Open For Business
Click here to look at the latest openings in the all-new Appraiser Job Bank! If you are a Maryland Chapter of the Appraisal Institute member, find out how to post your openings for free.

Interested in a Career in Appraising?
Click here to find out about the necessary steps to take to become an appraiser in Maryland.

AI Web Site Offers Help in Reporting Client Pressure Problems
The Appraisal Institute has unveiled its Appraisal Independence Action Center (AIAC) on its Web site to assist appraisers in reporting client pressure problems. The AIAC not only directs one to contacts for federally regulated institutions, but also lists various agencies at the state level for complaints against mortgage brokers, non-banking lenders and real estate agents. Take a look at the site!

Do You Want to Become a Certified Residential Appraiser?
The Maryland Chapter of the Appraisal Institute is offering a 45-hour demo alternative package approved by the Appraiser Qualifications Board (AQB) based on the 2008 education criteria. Individuals who are seeking the Appraisal Institute SRA designation can take this package as an alternative to the Residential Demonstration Report requirement! Classes will begin May 4 and will take place at the Johns Hopkins Downtown Center in Baltimore. Don't miss this golden opportunity to start your career as a certified residential appraiser! Click here for more information and to register now!

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In the Past
University Study Shows Those With Appraisal Institute
Researchers from Washington State University recently found that appraisers who earn the SRA, the residential designation, from the Appraisal Institute earned an average of 26 percent more, or about $13,000 annually, compared to their non-SRA counterparts. Learn More About the Study and the SRA Designation!

License to Steal
While there aren't are any solid numbers, experts agree that forged appraisals are on the rise and becoming a significant problem industry wide The problem has led some unsuspecting appraisers to be placed on exception lists by certain lenders and could lead the IRS to pursue you for undeclared income. The article below details the issue and what you can do to protect yourself.
View File LicensetoSteal.pdf