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A new Regulation Z (12 CFR 226) of the Truth in Lending Act was adopted in 2008 (73 FR 44522) to help prevent the improper influence of appraisers and to reduce the chances that appraisers would be pressured to "hit" certain target property values or return pre-determined, unsupported valuations when appraising real property.
American Society of Appraisers; Predecessor: The American Society of Technical Appraisers Technical Valuation Society: Founded: 1952; 73 years ago () Headquarters: 2121 Cooperative Way, Suite 210 Herndon, VA 20171,
At the onset of an assignment, an appraiser is obligated to gather certain specified preliminary data about the project, such as the nature of the property to be appraised, the basis of value (e.g. market, investment, impaired, unimpaired), the interests appraised (e.g. fee, partial), important assumptions or hypothetical conditions, and the ...
One of the most recognized professional organizations of real estate appraisers in America is the Appraisal Institute (AI). It was formed from the merger of the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers. Founded along with others in the 1930s, the two organizations merged in the 1990s to form the AI.
The Appraisal Foundation is a non-profit organization established in 1987 by the largest valuation organizations in North America. The foundation was congressionally authorized to develop standards and qualifications for real estate appraisers under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
A Uniform Residential Appraisal Report or URAR is one of the most common forms used in United States real estate appraisals. It was created to allow for standard reporting and analysis of single-family dwellings or single-family dwellings with an "accessory unit".
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