Dear Readers,

Over the past several months, we have brought to the attention of our appraisal
audience the many, many ways those working in the valuation profession have
stepped up their game in the wake of the COVID-19 pandemic.

It wouldn’t come as a shock to most appraisers to hear that as an industry, the
appraisal profession wasn’t always on the same page or acting in unison when it
came to creating an environment for the good of all. But as time has gone by, under
extremely difficult times one wouldn’t have thought possible professionals would
ever have to endure, there seems to be a major attitudinal shift in terms of how one
can make a business better moving forward.

Yes, the appraisal profession has seemingly had a true come together moment as
individuals across the globe are finding new and innovative ways to do their jobs to
keep businesses and incomes thriving.

Valuation Review continues to get the thoughts of key players in this game,
including the presidents of the Appraisal Institute (AI) and The Appraisal
Foundation (TAF).

In a recent interview, TAF President David Bunton told us: “The major GSEs
(Fannie and Freddie) have the power to act independently, and, in this instance,
there was quite a bit of immediate and active cooperation between the two entities
to adjust policies and provide guidance. Overall, the actions of the GSEs have
been very impressive. Guidance has been issued weekly, and policies are still being
modified.

“Likewise, the profession pulled together, and representatives of appraisal
organizations met often via zoom meetings and conference calls to collect ideas for
best actions and to act cohesively,” Bunton added. “Personally, for me, it has been a
proud moment to watch what appraisers and lenders have done to help one another.”
AI President Jefferson L. Sherman noted: “We need to untangle this web of
uncertainty for our clients, which we can do with trained professionals and a
tremendous bank of experience from which we can draw. We also have valuable
relationships with colleagues, who we can turn to for information-sharing and
guidance.”

The T.E.A.M. acronym is so true – Together Everyone Achieves More. Stay safe
and healthy!

Editor, Valuation Review

Mike Holzheimer