The Appraisal Foundation has named seven members to serve on a new Appraisal Practices Board that will issue guidance to appraisers on emerging valuation issues in the marketplace.

The voluntary guidance, intended to assist appraisers, appraiser regulators and educators, will be developed with the help of market surveys and small groups of volunteer "subject matter experts" who will draft guidance for review and approval by the board.

The Appraisal Foundation has named seven members to serve on a new Appraisal Practices Board that will issue guidance to appraisers on emerging valuation issues in the marketplace.

The voluntary guidance, intended to assist appraisers, appraiser regulators and educators, will be developed with the help of market surveys and small groups of volunteer "subject matter experts" who will draft guidance for review and approval by the board.

The creation of the board "represents a significant national milestone in the advancement of the appraisal profession," said David Wilkes, the chairman of the Appraisal Foundation’s board of trustees, in a press release. The board’s guidance will "contribute directly to the credibility and reliability of appraisals," he said.

The Appraisal Foundation was formed in the aftermath of the Savings and Loan crisis, and authorized by Congress to issue appraisal standards and appraiser qualifications.

The Foundation’s board adopted the Uniform Standards of Professional Appraisal Practice (USPAP) in January, 1989, which is recognized throughout the U.S. as the generally accepted standards of professional appraisal practice.

The Foundation’s existing boards include an Appraiser Qualifications Board (AQB) and an Appraisal Standards Board (ASB).

More than 125 qualified candidates applied to serve on the new Appraisal Practices Board, which will begin work next month. The inaugural board’s members, who will serve terms of 18 or 30 months, are:

  • Jay Fishman of Bala Cynwyd, Pennsylvania, 30-month term
  • Guy Griscom of Houston, Texas, 30-month term
  • Alan Hummel of St. Paul, Minnesota, 30-month term
  • Mark Linné of Bailey, Colorado,  18-month term
  • Alok Mahajan of Mountain View, California, 18-month term
  • Gary Taylor of Brooksville, Florida, 30-month term
  • Jim Vernor of Atlanta, Georgia, 18-month term

Taylor will serve as chairman of the Appraisal Practices Board for 18 months and Fishman as vice chair.

 

***

What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×