| ||
|
|
| AAREA's Accomplishments |
2019 Survey Results Affect 2020-2021 USPAP!
On February 8, 2019, AAREA presented the results of a survey of Arizona appraisers to the Appraisal Standards Board at their meeting in Scottsdale. Nearly 300 responses have been received voting on proposed changed to the Uniform Standards of Professional Practice.
A number of proposed changes were opposed as indicated in the survey. As a result of our input, as well as other appraisal organizations, the ASB moved not to accept the Third Draft as proposed, but to develop a Fourth Draft.
AAREA proposed legislation that was signed into law on May 11, 2012:
- Prohibits "hold harmless" clauses that would put liability for work that was not the appraiser's on the appraiser.
- Requires the fee paid to the appraiser for AMC ordered appraisals to be put in the Scope of Work Section of the appraisal report. This protects the public because it provides transparency, and keeps the lenders apprised of how the AMC fee is actually distributed.
- Extends the time for returning military to re-activate their appraisal careers from 30 days to 180 days.
- Makes USPAP accepted as soon as required by the Appraisal Foundation.
AAREA PEER REVIEW COMMITTEE
AAREA has an estabished "duly authorized peer review committee" so that members can send in appraisals for review without redacting them and be able to discuss them with their peers who are members of the Committee.
This has become very helpful for those members who have Complaints pending at the DFI and who need an independent party to look over their work.
AAREA Establishes Code of Ethics and Professional Conduct for Members
AAREA has written an APPRAISORS’® Code of Ethics and Professional Conduct.
A four hour CE course on this code has been approved by the Arizona Board of Appraisal.
Please click on the page at the left to see the entire Code.
