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Let's get it right this time.

Publication: Valuation Insights & Perspectives
Publication Date: 22-MAR-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Let's get it right this time.(on point)

Article Excerpt
Twenty years ago, we were in the midst of a savings and loan de bacle in which the government ultimately bailed out the thrift industry to the tune of approximately $150 billion. As appraisers well know--at least those of us who've been around that long--this crisis also proved to be the tipping point in establishing appraisal licensing requirements throughout the country. At the time it was believed the licensing of appraisers for federally related transactions--mandated in the Financial Institutions Reform, Recovery and Enforcement Act of 1989, particularly Title XI--would ensure that most, if not all, appraisers would perform in accordance with certain ethical and practice standards.

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While the licensing mechanisms were left to the individual states,...

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