Safeguarding Trust: The Evolution of the Appraisal Profession from Crisis to AI (Artificial Intelligence)

James Park will reflect on the appraisal profession’s evolution—from its critical role in financial system integrity to growing scrutiny over bias, lack of diversity, and now, the transformative potential and risks of artificial intelligence. Drawing from his unique career, he will outline how the profession can rebuild public trust, modernize its standards, and reassert its relevance in today’s housing finance landscape.

Mr. Park has been on the front lines of the appraisal profession for over three decades. From the collapse of Lehman Brothers in 2008 to the federal regulatory frontlines at the Appraisal Subcommittee (ASC), Mr. Park brings unmatched insight into the systemic, structural, and societal challenges facing the profession.

A former Chair of the Appraisal Foundation’s Industry Advisory Council, member of its Board of Trustees, and staff member, Mr. Park became Executive Director of the ASC in 2009, where he led efforts to strengthen oversight and coordinate federal appraisal policy. His tenure spanned economic recovery, regulatory reform, and the rise of automation and data-driven valuation models. He retired from the ASC in 2024.

• The Federal Regulatory Framework (ASC, FFIEC, HUD, FHFA, and interagency coordination)

• Current Concept Papers from the AQB and ASB 

• Alternative Pathways to Licensure: Innovations and Obstacles  

• Challenges and Opportunities in the Age of AI 

• Restoring Public Trust and Reframing the Role of the Appraiser