Valuation 2011 Fourth Quarter

The 2011 Leadership Development and Advisory Council operated under the direction of six Appraisal Institute members: (from left) Claire Aufrance, MAI, discussion leader; Eric Haims, MAI, discussion leader; Mark Verrett, Associate member, chair; Joe Woods, SRA, vice chair; Robin Amorin, MAI, discussion leader; and Michael Goldstein, MAI, discussion leader.

SKILL ON THE HILL

More than 100 members of the Appraisal Institute went to Capitol Hill on July 27 to drum up support for the Sensible Accounting to Value Energy Act of 2011 and to voice concern about H.R. 1755, the Home Construction Lending Regulatory Improvement Act of 2011.

The Leadership Development and Advisory Council attendees urged lawmakers to support the SAVE Act, which is intended to improve the mortgage underwriting process used by federal mortgage agencies by ensuring that energy costs are included in the underwriting process and that appraisers have access to information necessary to analyze high-performance components.

While on Capitol Hill, the appraisers also expressed concern about H.R. 1755, which directs banking regulators to rewrite banking and appraisal guidelines to require hypothetical “as-completed” values when assessing the collateral of residential acquisition, development and construction loans. They told lawmakers that “as-completed” can mask potential risks that currently are captured by “as-is” appraisals. They also expressed concern that H.R. 1755 would prohibit appraisers from considering distressed sales as a comparable sale.

LDAC 2012
“The roots of LDAC are those
of a leadership development
program,” says 2012 Chair
Joe Woods, and his aim is to
continue promoting LDAC as
a place where participants
can be a part of AI’s plan-
ning and decision-making
process. Woods also says he
wants to expand representa-
tion at LDAC by involving
chapters that haven’t sent
representatives in recent
years and especially ones
that have never sent repre-
sentatives.

Appraisal Institute members
interested in next year’s
LDAC scheduled for May
22-24 can learn more about
the program and apply at:
www.appraisalinstitute.org/
membership/ LDAC_apply.aspx.

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