American Guild of Appraisers Invited to Provide Statement for the record of the House Finance Sub-Committee Hearing Entitled "Appraisal Oversight: The Regulatory Impact on Consumers and Businesses"
WASHINGTON, June 28, 2012 /PRNewswire-USNewswire/ -- The American Guild of Appraisers (AGA), a national organization of real estate appraisers that is an affiliate of the AFL-CIO's Office and Professional Employees International Union (OPEIU), has filed an official statement in the record of the hearing today held by the Insurance, Housing and Community Opportunity Committee of the House Finance Sub-Committee entitled: "Appraisal Oversight: The Regulatory Impact on Consumers and Businesses."
The hearing was held to examine the appraisal industry and explore suggestions to improve appraisal regulation, enforcement, and oversight. The statement by Peter Vidi, National President of the AGA, underscores several key issues facing appraisers today including the on-going concerns regarding the enforcement of Customary & Reasonable Fee provisions implemented as a result of Dodd-Frank as well as the preservation of AMC state registration and the ability of state boards to adequately resource for proper enforcement of mandatory reporting requirements of USPAP violations.
AGA is also working in concert with leading consumer organizations to ensure that consumers have the benefit and protection of professional appraisals, not just a mortgage organization but in circumstances of distress such as a short sale or pre-foreclosure proceeding. The AGA educates consumers about appraisals, the appraisers' independent and unbiased role in the valuation process and seeks to foster accountability of both the appraisal profession and the financial institutions to which the appraiser provides services. "The practices of many appraisal management companies are threatening the reliability of appraisals to the detriment of borrowers and taxpayers and causing large numbers of experienced appraisers to leave the profession. Borrowers and lenders alike in theory rely on the honesty and accuracy of appraisals in making lending and borrowing decisions," said Peter Vidi.
To read the complete statement by AGA, please visit our website at www.Appraisersguild.org.
ABOUT THE AMERICAN GUILD OF APPRAISERS/OPEIU GUILD 44
The American Guild of Appraisers/OPEIU Guild 44 seeks to represent the interests of appraisers, developing a strong presence before the U.S. Congress and each of the state legislatures. By working closely and exchanging dialog with other like-minded organizations, the AGA works to educate consumers about the appraisers' non bias, independent role in the value process, while ensuring the accountability of both the appraisal profession and the financial institutions with which the appraiser provides services.
The Office and Professional Employees International Union represents more than 108,000 members in the United States, Puerto Rico and Canada. OPEIU represents employees and independent contractors in banking and credit unions, insurance, higher education, shipping, hospitals, medical clinics, utilities, transportation, hotels, administrative offices and more.
Professional organizations and Guilds affiliated with OPEIU are a diverse group that includes physicians, pharmacists, chiropractors, appraisers, podiatrists, clinical social workers, hypnotists, teachers and helicopter pilots. OPEIU is a member of the AFL-CIO.
SOURCE Office and Professional Employees International Union, AFL-CIO (OPEIU)Back to top