WASHINGTON, D.C. (April 20, 2008) – More than one hundred participants in the Appraisal Institute’s 2008 Leadership Development and Advisory Council (LDAC) are set to lobby Capitol Hill on Thursday, April 24, in an effort to alert their Congressional representatives of the issues impacting real estate appraisers and the real estate appraisal profession. The group, which is composed of industry leaders, will gather April 23-25 at the Washington Court Hotel in Washington, D.C.
Prior to meeting with the nation’s leaders, members of LDAC will attend a special presentation featuring keynote speaker Alfred Pollard, who serves as General Counsel at the Office of Federal Housing Enterprise Oversight (OFHEO). Mr. Pollard’s address is expected to detail the agreement Fannie Mae and Freddie Mac signed with OFHEO and the New York Attorney General’s Office to adopt a Home Valuation Protection Code of Conduct. Among the provisions of this agreement is language aimed at safeguarding the independence of real estate appraisers.
“We are excited to have Mr. Pollard with us this year and are eager for him to shed light on the recent agreement Fannie Mae and Freddie Mac signed with OFHEO,” said Bill Garber, Appraisal Institute director of government and external relations. “The issue of appraiser independence is of the utmost importance to our profession and to clients of appraisal services.”
This year, LDAC attendees will be lobbying on two key issues: improving the existing appraisal regulatory structure and foreclosure prevention. Several bills have been introduced in the 110th Congress to address both issues, the most prominent being H.R. 3915, which passed the House last year, and foreclosure prevention legislation scheduled to be voted on in the House and Senate as early as this week.
"Congress is poised to act on several bills that will have an impact on real estate appraisers and the real estate market, so this is an opportune time for appraisers themselves to meet and discuss these proposals with their elected officials,” explained Garber.. “Just as the expertise of real estate appraisers is important in real estate financial transactions, professional appraisers can give insight to policymakers on key valuation questions relating to the current housing crisis”
The Leadership Development and Advisory Council has served as a source of leadership and an inspiration for new programming ideas for the Appraisal Institute for more than 30 years. Through a series of roundtable discussions, LDAC provides a forum for the exchange of ideas and opinions on targeted topics of concern to the appraisal profession. For more information about the advocacy efforts of the Appraisal Institute, visit www.appraisalinstitute.org/newsadvocacy.