Illinois Coalition of Appraisal Professionals

Appraiser Standards Board Chair Wayne Miller and Vice President of Appraisal Issues Lisa Desmarais walk through the ASB's Second Exposure Draft. Be sure to submit any written comments to the ASB by July 30, 2020 for consideration. View the video and download the presentation.

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Coronavirus Legal and Risk Issues for IllinoisAppraisers 

This webinar featuring Attorneys Craig Capilla and Peter Christensen who address the special legal and risk issues concerning appraisers in relation to COVID-19. They cover: 

• Whether appraisers have yet faced actual liability situations relating to COVID-19. 
• The potential future liability impacts for appraisers that may stem from the crisis. 
• Concerns about future liability in relation to appraisal work generally.
• Examples of suggested language to consider including in appraisal reports. 

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Best Practice Webinar on the NEW ALTERNATIVE Appraisal Reports for GSE’s and FHA

Trying to navigate the alternative residential appraisal forms and market conditions in the COVID pandemic? Then you must listen to this webinar featuring TJ McCarthy, SRA, ASA, IFA and Woody Fincham, SRA, AI-RRS, ASA.  This webinar discuss the guidelines and requirements for the selection of alternative appraisal reports for Fannie/Freddie/FHA.  This webinar also feature a section on market analysis – "Back to Basics": with Woody Fincham, SRA, AI-RRS, ASA. 

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Get answers about the best business practices and listen to a discussion about the challenges and concerns of appraising real estate during the  COVID-19 pandemic.  This webinar features Dr. Michael Ison the Medical Director of the Transplant & Immunocompromised Host Infectious Diseases Service, Northwestern University Comprehensive Transplant Center at Northwestern University Feinberg School of Medicine.

This webinar also features a legislative update by ICAP's new lobbyist John S. Kamis of Turing Strategies.

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The State of Illinois entered “Phase 4: Revitalization” of the “Restore Illinois” plan on June 26, 2020 under Executive Order 2020-43. This brochure is intended to address ongoing questions about permitted real estate services during Phase 4. While this brochure provides one resource for real estate professionals that complements and supplements the “Restore Illinois” plan, you are encourage you to review pertinent guidance and publications from the Governor’s Office, the Illinois Department of Public Health, and the Department of Commerce and Economic Opportunity.

This guidence from the Division of Real Estate provides best practices as we move forward in reopening Illinois. Together we can ensure that the Illinois real estate industry continues to move forward as our licensees provide critical services to Illinois residents and consumers.

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This re-extension of the effective date of Mortgagee Letter 2020-05, published on March 27, 2020 will allow industry partners additional opportunity to utilize flexible guidance related to reverification of employment and appraisal protocol for FHA Single Family Programs affected by COVID-19.

The re-extension of Appraisal guidance in Mortgagee Letter 2020-05 is effective immediately for appraisal inspections completed on or before August 31, 2020. The extension of re-verification of employment guidance in Mortgagee Letter 2020-05 is effective immediately for cases closed on or before August 31, 2020.

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ICAP commented on the impending Interim Final Rule that will allow real estate appraisals to be deferred for 120 days for certain real estate transactions.  The letter states that the differment could lead to several unsettling possibilities. 

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