Congress Hears Appeals to Fix Dysfunctional Appraisal System

Posted To: MND NewsWire

The House Financial Services Subcommittee on Housing and Insurance recently held a hearing on " Modernizing Appraisals : A Regulatory Review and the Future of the Industry." According to the committee memorandum, the hearing was called to "Examine the appraisal industry since the creation of the Appraisal Subcommittee in 1989, review the Dodd-Frank Act's impact on appraisers, consumers and stakeholders, and explore the future of appraisals, including alternative home valuation methods." Six panelists presented more than a hundred pages of prepared testimony. Some highlights. James R. Park, Executive Director of the Appraisal Subcommittee and David S. Brunton, President of the Appraisal Foundation opened the hearing, outlining in detail the events leading to the present status of appraisal regulations...(read more)

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