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National Appraisal Congress Testifies Before the Appraiser Qualifications Board

appraisalMembers of the National Appraisal Congress (NAC), a Five Star Institute Membership Group that advocates and develops sustainable solutions for the residential valuations industry, recently met with members of Congress and appraisal regulators to deliver a comprehensive solution for training the next generation of appraisers while removing existing inefficiencies from the process.

Last week, NAC met with the offices of two U.S. Senators and testified in front of the Appraisal Qualifications Board to deliver the group’s comprehensive solution for effectively training new appraisers, while ensuring the process is reasonable for both trainers and trainees alike.

In October, NAC officially released the group’s solution for effectuating change when it comes to the training of residential appraisers with the release of a white paper titled, “Removing Barriers to Entry into the Residential Valuations Profession: Solutions for Educating, Training and Regulating the Next Generation of Appraisers.”

"National Appraisal Congress began the year 2015 with the goal of engaging key stakeholders in the regulatory space and valuations industry to provide both parties with informed market insights on everything from possible 'alternative paths to training and certification' to the impending appraiser shortage," said Jordan Petkovski, Chairman of NAC and Chief Appraiser/Vice President for Title Source. "The NAC Board successfully accomplished this task and collaborated effectively to connect with key members of Congress and the Appraiser Qualifications Board to share our proposal for streamlining the training process and removing barriers to entry into the appraisal profession.

"I am proud of our accomplishments over the course of the past few months and encourage the appraisal industry to continue to work together to create a better future for the residential valuations profession."

On Wednesday, Oct. 14, 2015, a group of NAC Board Members (Jordan Petkovski, Chief Appraiser for TSI; Bill Fall with The William Fall Group; Frank O’Neill with Stewart; Greg Stephens with Metro-West Appraisal Co.; and Tony Pistilli with Xome) met with representatives for U.S. Senators Mike Rounds (R-South Dakota) and John Thune (R-South Dakota) to discuss the challenges facing the residential appraisal profession along with the advocacy group’s proposed residency solution that was outlined within the NAC’s latest white paper.

Following the legislative meeting, NAC Chairman Jordan Petkovski with TSI provided testimony to the Appraiser Qualifications Board (AQB) regarding alternative paths to obtaining the experience required for certification in the residential valuations space. The NAC solution, which is described in full detail in the group’s white paper, advocates for alternative training options that maintain best practices and ethics, while creating more efficient processes.

Editor's note: The Five Star Institute is the parent company of MReport and TheMReport.com.

About Author: Kerri Panchuk

Kerri Panchuk is an attorney and financial writer with more than a decade of experience covering real estate, default servicing, residential mortgage-backed securities, retail, macroeconomics, and commercial real estate. Panchuk graduated from the Southern Methodist University Dedman School of Law and Texas Tech University. Panchuk previously served DSNews.com as online managing editor/producer and webcast anchor and is currently a contributing writer and editor for the MReport. Panchuk is a member of the State Bar of Texas.
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