Big Wins in Washington and in the Classroom
In this issue:
- Road to Housing Act: Senate Banking Committee advances appraisal provisions
- Weekends in the Classroom: How the Ohio Chapter is Making a Difference
- RESNET Online Appraisal Portal: new online portal provides access to important information about the energy efficiency of more than 2 million homes
Member Announcement
We are pleased to report that we have reached a resolution of the litigation brought against the Appraisal Institute by our former Chief Executive Officer, Cynthia Chance.
Dr. Chance claimed in her complaint that the termination of her employment was retaliatory. We unequivocally disagree with Dr. Chance. However, we believe it is in the organization's best interest that we focus on moving forward.
This has been a learning experience, and much of that learning has come from member feedback identifying opportunities for improvement. We have heard from you - our members, chapters and stakeholders - and we are working diligently to address your concerns.
We appreciate your patience and your support. We are moving forward together—with purpose, focus, and a shared commitment to advancing the appraisal profession.
Insights
Senate Banking Committee Advances Appraisal Provisions in Road to Housing Act
The Senate Committee on Banking, Housing, and Urban Affairs has approved the ROAD to Housing Act, which includes two key appraisal-related bills: the Appraisal Modernization Act (AMA) and the Appraisal Industry Improvement Act (AIIA). The committee approved the legislation during a markup held Tuesday, July 29.
The Appraisal Institute expressed strong support for both measures and applauded the committee’s leadership in moving the legislation forward.
“These provisions will help improve consumer engagement, enhance appraisal quality, and support the next generation of appraisers,” said Scott DiBiasio, the Appraisal Institute’s Director of Government Affairs. “We appreciate the committee’s thoughtful and balanced approach to appraisal reform.”
The AMA would establish a standardized process for Reconsideration of Value (ROV), giving consumers a clear and consistent pathway to request a second look at their appraisal when concerns arise. The provision is designed to reduce confusion, improve communication, and help resolve most valuation concerns at the loan level—before they escalate into regulatory complaints or litigation.
The AIIA focuses on workforce development by adding state-credentialed appraiser trainees to the national registry and authorizing the Appraisal Subcommittee (ASC) to issue grants to states, nonprofits, and educational institutions for training and education initiatives. It also includes a provision recognizing FHA-specific education as a qualifying pathway for licensed residential appraisers to perform FHA assignments—an important step toward addressing appraisal capacity in underserved markets.
The Appraisal Institute offered special thanks to Sen. Raphael Warnock (D-GA) for introducing the legislation and for engaging with the Institute on concerns surrounding the public appraisal database. The Institute also recognized Sen. Kevin Cramer (R-ND) and Sen. Ruben Gallego (D-AZ) for their work in strengthening the bill during the committee process.
“These bills represent a meaningful step forward for both consumers and appraisers,” DiBiasio said. “We look forward to continuing to work with lawmakers as the legislation advances.”
To learn more about the Appraisal Institute’s policy work, visit www.appraisalinstitute.org/advocacy.
Ohio Chapter Expands Support for ADI with Public Weekend Courses
Building on the success of its 2023 efforts, the Ohio Chapter of the Appraisal Institute is continuing its strong support of the Appraiser Development Initiative (ADI) by hosting another round of weekend courses designed to help scholarship recipients earn their trainee classification. These courses provide greater accessibility for working adults and nontraditional students, and have proven effective in supporting student success.
In 2023, the chapter enrolled 11 students in the trainee education package—seven in person and four virtually. All in-person attendees completed the program, passed their exams, and were placed with supervisory appraisers. Three went on to become Affiliate members of the Appraisal Institute. While the virtual participants ultimately disengaged, the results underscore the value of in-person instruction and peer engagement.
In 2023, the chapter enrolled 11 students in the trainee education package—seven in person and four virtually. All in-person attendees completed the program, passed their exams, and were placed with supervisory appraisers. Three went on to become Affiliate members of the Appraisal Institute. While the virtual participants ultimately disengaged, the results underscore the value of in-person instruction and peer engagement.
Following the recent awarding of 27 new ADI scholarships, the chapter has scheduled another full trainee course package beginning in August. For the first time, these courses are open to the public, expanding access to aspiring appraisers beyond the ADI program. This initiative reflects the Ohio Chapter’s continued leadership in fostering diversity and development in the appraisal profession.
Your Benefits
This new online portal provides Appraisal Institute members focused on residential valuation access to important information about the energy efficiency of more than 2 million homes. The homes in the portal have been rated for energy efficiency, by RESNET Certified Home Energy Raters, as part of RESNET's Home Energy Rating System (HERS).
Get access to resources and tools to better understand the energy performance and efficiency of homes being appraised and find comparable homes in the market.
Read the latest issues of The Appraisal Journal and Valuation magazine online!
- The Tenant Is Not the Property
by Jim Amorin, MAI, SRA, AI-GRS, Stephen D. Roach, MAI, SRA, AI-GRS, and Leslie Sellers, MAI, SRA, AI-GRS - From a Theoretical Formula to a Defensible and Robust Model: The Appropriate Development and Application of Regression Models in the Context of Real Estate Appraisal
by Erin Kiella, PhD, Jennifer Pitts, MAI, and Christopher Yost-Bremm, PhD - The Amended Federal Expert Witness Rule:
FRE 702 by Ed Morse, JD, MAI
- Charting Her Own Course
by Peter Haapaniemi, featuring Shawn Wilson, MAI - Make Way for the Data Center Boom
by Nancy Derringer, with Nick Carter, MAI, SRA, David Lenhoff, MAI, SRA, AI-GRS - The Research Assistant of Your Dreams
by Justin C. Gohn, MAI, SRA
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Sign up for our next free webinar
“AI on AI” Seminar Series
August 21, 2025, 12 PM ET
Join us for an exclusive preview of the Appraisal Institute’s newest professional development offering: AI on AI, a groundbreaking seminar series designed to help real estate appraisers explore and integrate Generative Artificial Intelligence (GenAI) into their practice.
In this session, you’ll learn:
- How AI on AI builds on the success of Mark Linne’s previous programs
- What GenAI tools can do for real estate appraisers—today and in the near future
- What to expect from the six-month series, including format, topics, and community interaction
- How appraisers are already using GenAI for document review, data mining, prompt engineering, and more.
Featuring:
- Mark Linne, MAI, SRA, AI-GRS, Chrysalis Valuation Consultants LLC
- Maureen Mahoney, Director of Education, Appraisal Institute
Advocacy Updates
Recent Developments at the Appraisal Subcommittee
The Appraisal Subcommittee (ASC), a federal agency tasked with oversight of state appraiser regulatory programs and maintenance of the National Appraiser Registry, has experienced a series of operational and organizational changes over the past year.
As of September 30, 2024, ASC financial records indicated a balance of approximately $28 million in unspent funds. These funds are generated primarily through National Registry fees collected from state-licensed and certified appraisers.
During the same period, the ASC took several administrative actions related to funding and oversight:
- The ASC clawed back previously awarded grant funding from certain recipients.
- The agency reduced the scope of some state compliance reviews.
- Internal reports indicated a staff attrition rate of approximately 30%.
The ASC issued two Notices of Funding Availability totaling $3.3 million for The Appraisal Foundation Support (TAFS) and State Appraiser Regulatory Agencies Support (SARAS) grant programs. However, in 2024, only 13 states applied for and received grants totaling $1.1 million.
The agency’s website indicates a board member and agency representative now serves as the active executive director.
No formal announcements have been made regarding changes to ASC leadership, funding policy, or the status of the National Registry.
Support Appraisal Institute PAC: Advocacy Is Delivering Results
The Appraisal Institute’s 2025 advocacy strategy is producing real results. On July 29, the Senate Banking Committee advanced the ROAD to Housing Act, which includes two major wins for appraisers: a national Reconsideration of Value process and new investments in the appraisal workforce. Also, because of the AI’s advocacy on the Hill, a very concerning proposal for a public residential appraisal database was removed in lieu of Congress requiring GAO to study the feasibility of standing up such a database.
These victories reflect years of hard work—but they wouldn’t be possible without support from Appraisal Institute PAC.
Appraisal Institute PAC is our profession’s voice in Washington. It helps build relationships with key lawmakers, educate policymakers, and support those who champion credible, independent valuation.
Now is the time to keep that momentum going. Every contribution—no matter the size—makes a difference. Members who contribute $500 or more are recognized in the Presidential Club for their leadership and support.
Make a personal contribution to Appraisal Institute PAC.
Your voice matters. Your support makes it stronger.
Real Estate Horizons
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Until Next week
Team Appraisal Institute
