Appraisal Groups Say Use of Alternative Valuations Could Compromise Lenders’ Safety and Soundness
January 29, 2009
Professional appraisal organizations are strongly objecting to proposed federal guidelines that would allow the use of automated valuation models, broker price opinions, and property tax assessment valuations as substitutes for opinions of certified and licensed appraisers. In comments to proposed interagency appraisal and evaluation guidelines, the American Society of...