Understanding the Interim Final Rule outlines changes appraisers will see under the Federal Reserve Board’s Interim Final Rule, highlights industry reaction to the rule and details the research gathered in its creation.
This special report from the editorial staff of Valuation Review
provides an in-depth look into the Federal Reserve Board’s (FRB)
Interim Final Rule, a rule that will dictate the future of appraising in
the U.S. The rule addresses two of the most important issues that
appraisers have faced over the past decade: pressure and compensation.
In the boom years when appraisers were being pressured for a value
conclusion, there was generally enough work available to allow
appraisers to pick and choose assignments. Today, appraisers have
reported that the assignments sometimes go to the lowest bidder, not
necessarily to the most experienced appraiser. This rule could go a long
way to putting an end to both issues in the appraisal world.
Understanding the Interim Final Rule outlines changes
appraisers will see moving forward, highlights industry reaction and
details the research gathered in creating the rule.