The ASC denies request from TriStar Bank Tennessee to receive a temporary waiver from using RE Appraisers.The American Guild of Appraisers, National President – Leo Regensburger, and AGA National Appraiser Peer Review Committee member Bob Obrien were in attendance with approximately 25 other appraisers and appraiser advocate groups, for the special meeting held at the Federal Reserve Board offices, located in Washington DC, on Monday April 23, 2008.
The ASC board was well prepared. It was obvious the ASC board members and staff studied information gathered from appraisers, appraiser advocate groups, TriStar Bank as well as their own sources prior to the meeting. TriStar was invited to talk before the board deliberated. The information presented by the ASC produced a compelling argument against approving the temporary waiver. However, the letters from the Tennessee appraisers in Dickson, TN and surrounding counties had a significant impact, by stating their professional services were not requested by TriStar and then offering their help to TriStar.
Closing comments by the ASC board suggested lenders and AMC should peruse issues like this at local levels first; and that the ASC was very willing to help facilitate that communication, and to help resolve issues which prevent consumers from getting appropriate appraisers services.
AGA thanks all appraisers for their diligence and support, for the appraisal profession and the professional men and women who deserve respect and appropriate compensation, for the critical service they perform.
Leo Regensburger, AGA National President 4/24/18