In The Appraisal Foundation’s (TAF) December newsletter, President David Bunton noted many accomplishments over the past year by the TAF boards.
“It is hard to believe that 2023 is already coming to a close. It seems like just yesterday that we were preparing the January newsletter. Now, nearly 12 months later, it is amazing to think just how much has been accomplished by our boards,” Bunton said in the newsletter. “In May, the Appraisal Standards Board (ASB) wrapped up an 18-month effort to review and revise the Ethics Rule to ensure it is crystal clear that discrimination is prohibited in the Uniform Standards of Professional Appraisal Practice (USPAP) and that appraisers must follow all relevant fair housing laws. This new edition of USPAP goes into effect on Jan. 1, 2024.”
As part of this new edition of USPAP, Bunton also pointed out that TAF introduced a new format for the standards and accompanying guidance. Individuals can now purchase the definitions, rules and standards as a standalone publication and the Advisory Opinions, Frequently Asked Questions, and Reference Index in another book.
Linked versions of these publications are also available in the TAF store, Bunton added.
“This summer the Appraiser Qualifications Board (AQB) also updated the Real Property Appraiser Qualification Criteria to make fair housing education a required component of an appraiser’s qualifying and continuing education,” Bunton said. “This change will go into effect on Jan. 1, 2026, but states can implement the requirement earlier if they choose.”
The Board of Trustees (BOT) was busy, too, the TAF president said. The Board Structure Work Group wrapped up its report of proposed recommendations to improve the governance of the foundation. The full BOT will consider these recommendations at its upcoming virtual public meeting. Click here to register to attend.
The Council to Advance Residential Equity also held its inaugural meetings this year. This group of fair housing, consumer and civil right advocates will provide valuable input to all of the foundation's boards.
“Finally, I would be remiss if I did not say thank you to all of the incredible stakeholders like you,” Bunton said. “Our work this year would not have been possible without your feedback, commitment to the appraisal profession, and support of the public trust. We look forward to continuing our collaborative work with all of our stakeholders in 2024.”