A Quarterly Report of NAIFA Activities and Events in Service to Appraisal Professionals. My Last Message as President. The end of the year is upon us.

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1 A Quarterly Report of NAIFA Activities and Events in Service to Appraisal Professionals December 12, 2014 Volume 5, Issue #4 My Last Message as President Featured News President's Message Alliance for Valuation Education Class 2015 NAIFA Renewals Understanding the NAIFA Website New NAIFA Member Only Benefit AHP - Association Health Programs New NAIFA Member Only Benefit Access Denied, RFID Blocking Products Consumer Assistance Free Appraisal Quote Service & Consumer Links Calendar Upcoming NAIFA Courses & Events Industry News Recent and Relevant News Calendar The end of the year is upon us. President's Message Being the President of the National Association of Independent Fee Appraisers has been an experience I wish everybody would strive for. The opportunity to share ideas with other appraisal organizations, the Appraisal Foundation, and other related businesses and organizations on this level is worth the extra work. There are some very intelligent people who work for this profession. And believe it or not, they don t all wear rose colored glasses. But it s us, the average appraisers, who must step up to lead Randy G. Shervey this profession out of the shadows of the lenders, Realtors, and legislators who would diminish the importance of the work we do. It is time to make a choice if you want to be led by professional appraisal organizations or the financial lenders, Realtors, and the legislators they lobby. Again, I implore all appraisers who don t belong to a nationally recognized appraiser association to join one. The NAIFA has provided me, as a Designated Certified Residential Appraiser, a very fulfilling lifetime experience. I will continue to serve as best I can for this Association, my Chapter, and this profession. An article which appeared in the USA Today on December 7, 2014 stated, "The No. 1 reason that transactions fall apart is low-ball appraisals, not tight credit standards. Regulators believed a quid pro quo relationship existed between appraisers and their direct loan officer customers that created unsupportable opinions of value, ultimately contributing to property prices collapsing across America.

2 Upcoming Courses & Events Friday - December 19, 2014 Adjusting Comparable Sales for Seller Concessions Location: South Bend, Indiana Monday - December 22, 2014 Supporting Adjustments with Microsoft Excel Location: South Bend, Indiana Friday, January 9, 2015 Adjustments with Microsoft Excel Location: Lafayette, Indiana Thursday, January 22, 2015 Identifying Comparable Properties Location: Mayette, Kansas Friday - January 23, 2015 Unfortunately, these types of messages frequently appear in national publications. The only way we as appraisers can fight this is to join together as one voice. The NAIFA has and will continue to encourage cooperation between appraisal organizations to fight this type of slander towards the appraisal profession. The lenders, mortgage brokers, and realtors have numbers and dollars to sway legislators in shaping our future. However, if every appraiser belonged to a nationally recognized organization and all organizations cooperated with each other, we would have a significant force to deal with the legislators and regulators ourselves. And maybe we wouldn t be the scapegoat for financial crises across America. I ask all of you to get involved in your profession in some capacity and help reinforce the profession as an integral part of the necessary and successful health of our economy and citizens. We are paid a specific fee for an appraisal. It would seem the public might like to know almost everyone else in the process is paid on a percentage of the loan, sale price, or number of papers they can generate. We are not influenced by a single appraisal fee. I can t say the same for other parties involved in the transaction. I believe the NAIFA is on the right path with our legislative efforts in gaining control of our profession. However, as stated before, it will take numbers and money to effectively fight for appraiser rights. We can no longer fight the battle effectively if the majority of appraisers want to stand alone. We have been able to fulfill many of the issues that were facing us when I took office. As issues came up, we were able to handle most of them. Some issues will take a little longer. So be patient or better yet, get involved. This will be my last message as your NAIFA National President. I want to thank all of you who supported me throughout the year. It has been a privilege to serve and an honor to represent you. I believe the Executive Officers and the Board of Directors will continue to fight on your behalf. Best wishes for this Holiday Season and wishing you a prosperous New Year and thereafter in the real estate appraisal profession. Randy G. Shervey, IFA, DAR Defensible Appraisal Practices Location: Mayette, Kansas Friday - February 20, 2015 NAIFA 2014 National President

3 Defensible Appraisal Practices Location: Jackson, Tennessee Saturday - Februart 21, 2015 Today's FHA & VA Location: Jackson, Tennessee Wednesday, February 25, 2015 Residential Appraising in a Changing Market Location: Willow Grove, Pennsylvania Tuesday, March 10, 2015 Understanding and Using Comparable Transactions Location: Oklahoma City, Oklahoma Thursday, March 26, 2015 Adjusting Comparable Sales for Seller Concessions Location: Richardson, Texas Friday, March 27, 2015 NAIFA - Alliance for Valuation Education Class Mike Orman, IFAS The Alliance for Valuation Education (AVE) has completed of its first course offering: Understanding & Using Comparable Transactions. To that end, the Alliance invited sponsoring organizations to attend a presentation of the current draft of the class in Chicago on August 20th, with feedback to be given the morning of August 21st. About half of the sponsoring organizations elected to attend. Representing NAIFA were Mike Orman, IFAS, and Len Spalding, IFA. The course covers identification of comparable data, recognition of relevant characteristics and suitability of the data, disqualification of unsuitable data, and reconciliation. The material is thorough and easily filled the intended seven hours of continuing education. The participants had many detailed suggestions for improving the material, which were well received by the course authors. In fact, the leaders expressed extreme gratitude to the sponsor participants for their diligent efforts on behalf of the Alliance, and stated that the results far exceeded their expectations for the conference. It is my opinion that the class will meet the needs of NAIFA. This will allow us to continue offering quality education and also aid in the recruiting of new members. The course will already have AQB Course Approval Program (CAP) and will only need state approval. We need to be prepared to pull this course "off the shelf and get it to our members as soon as possible. At the September NAIFA Board of Directors Meeting, the Board voted to take the necessary steps to include upcoming AVE class offerings into NAIFA's course catalog as they become available. Click here to view an article posted on this topic. NAIFA 2015 Renewals are in Full Swing It's that time of year again! The first round of printed invoices went out at the beginning of October. A second notification was ed in mid November. Keep an eye out for the third communication due to be ed mid December. All memberships expire 12/31/2014. Be sure to get your membership updated so you can ring in the New Year as a NAIFA member! The association continues to make significant progress on issues of

4 Identifying Comparable Properties Location: Richardson, Texas Saturday - March 28, 2015 Supporting Adjustments with Microsoft Excel Location: Richardson, Texas View the NAIFA calendar on our website. View Archived Issues of Appraisers' Voice Find & Follow NAIFA common concern to all members. Here are some of the key highlights from 2014: New affinity partnerships for your business, including health insurance brokerage services. Online opinion and topical surveys on naifa.com Legislative and regulatory representation in Washington, D.C. Responses to Appraisal Foundation exposure drafts New and revised NAIFA educational courses Monthly issues of NAIFA News Quarterly issues of Appraiser s Voice NAIFA TV on YouTube NAIFA on Facebook Industry news, TAF and Appraisal Subcommittee updates, on NAIFA.com These are all in addition to the membership benefits we have been offering for years. Including: Education and Legislation: CE & QE Courses new courses introduced annually Chapter Sponsored Education Discounts on Classroom Education Reciprocal Member Pricing Education & Research Trust Legislative & Regulatory Representation Model Legislation Letters Networking and Recognition: Online Find an Appraiser Service Online Order an Appraisal Service Promotional Materials Discussion Forum/Groups Members Only Section National Conference Over 60 Active Chapters Recognition & Awards Opportunity to Lead NAIFA Facebook NAIFA TV on YouTube Marketing and Promotions: Professional Designations Marketing Materials Use of Designation Logos

5 Bi-Weekly Newsletter (NAIFA News) Quarterly E-Zine (Appraisers Voice) Partners Discounts: Access Denied RFID Blocking Products BetterWorldBrands Bradford Technologies A La Mode Inc Landy Insurance Agency FedEx Discount Program LIA Administrators & Insurance Services Association Health Programs Blue Book Products & Services 1Source International Office Depot Working Advantage Market Hardware, Inc.Map Pro, Inc AppraiserMatch.com Promotional Materials Member Rewards Renew now by logging into your online account and making a credit card payment. You can also mail a check to: NAIFA Lock Box 8259 Solutions Center Chicago, IL Feel free to call with any questions, or info@naifa.com. Understanding the NAIFA Website Being a member of NAIFA offers many benefits, including a plethora of information and resources housed on our website for your convenience. Here are just a few of the items you can find on the NAIFA website: 1. Resources for Appraisers: Here you will find different file libraries containing information regarding a large scope of information ranging from flood hazard information & maps to surveys and studies on the appraisal industry. 2. Most Requested Forms: Here you will find applications, chapter forms, designation forms, and education forms. This is a great go to

6 link to find the forms you will use most often. 3. Board Summaries: Here you will find information regarding board meetings. This is a great tool to know what is going on behind the scenes and learn about current and future board initiatives. 4. Committee Reports: Here you will find information about committee meetings and initiatives. 5. Discussion Forums: Are you interested in connecting with other people in the industry? Check out our Disussion Forums to see what other people are talking about. 6. NAIFA TV: Check out this special series featuring NAIFA 2012 President Charles E. Blau, Esq., IFAC; NAIFA and ASA Director of Government Relations, John D. Russell, JD; and Government Relations Consultant for NAIFA and ASA, Peter Barash. 7. Free Education: Are you interested in learning something new? Visit out YouTube Channel to view free educational videos. Remember that most of the resources available online are memberonly benefits. If you are not currently a member now is a perfect time to apply as a new member or rejoin! Contact the national office at info@naifa.com or call with any questions! New NAIFA Member Only Benefit AHP - Association Health Programs NAIFA members can receive up to 40% discounts off their health insurance needs. Contact AHP directly to obtain program information and request a quotation. Click here for more program information. New NAIFA Member Only Benefit Access Denied - RFID Blocking Products Protect Your Identity with Access Denied RFID Blocking leather wallets, passports, purses and briefcases. Prevent thieves from skimming your personal information that is encoded and embedded on your credit cards, passport, driver's license and insurance cards. Stop thieves from remotely accessing your bank account and credit card numbers electronically. NAIFA members receive a 15% discount on all purchases! Click here to learn more! Consumer Assistance Free Appraisal Quote Service & Links Wouldn't it be great if new leads, new business, and potential

7 appraisal work could come to you without having to lift a finger? As a NAIFA member, it can! Order an Appraisal was designed by NAIFA in order to bring members new work at no added cost to the member or consumer. How "Order an Appraisal" Works NAIFA offers lenders, brokers, attorneys, and real property consumers the ability to contact qualified NAIFA appraisers in order to request a free quote and/or order an appraisal. Better yet, this is all done online - no paper forms to mail and no credit card information required. The entire process is completed in two easy steps. 1. Search and review local appraisers 2. Send those appraisers your basic job details and submit! The request will then be routed electronically to your list of preselected appraisers. Once the NAIFA appraiser receives the request, he/she will send his/her quote back to the customer. If the customer is happy with a particular quote, he/she can then order an appraisal from that appraiser. Participation is easy and included in all of NAIFA's memberships. To ensure that your name appears in search results, keep your online NAIFA profile updated. Consumer Assistance The Consumer Assistance section of the NAIFA webpage has been updated with new resources for consumers: What is an Appraisal? Why an Appraisal? Order an Appraisal Understanding an Appraisal Why a Professional Appraiser? A Lender's Guide to USPAP Click on any of the links above to view the latest industry and consumer information. Industry News

8 Recent and Relevant News Appraiser Law Blog: Who are Mutual First, LLC and Savant Claims Management? Why is Mutual First Suing Appraisers? By Peter Christensen, Liability Insurance Administrators - General Counsel Working RE: Appraisal Board Sanctions AMC For Late Payment. Article reprinted with permission from Working RE News Edition, September 10, All rights reserved. The Appraisal Foundation: The Appraisal Foundation Releases New Resource for Instructors of Homebuyer Seminars. The Appraisal Foundation: The Appraiser Qualifications Board (AQB) held a public meeting in Memphis, Tennessee on September 19, Click here to view the summary of the meeting. NAIFA: NAIFA responds to the following Exposure Drafts: - NAIFA Response First Exposure Draft of proposed new Advisory Opinions and Advisory Opinion Revisions in conjunction with the edition of the USPAP. - NAIFA Response to USPAP Third Exposure Draft. Collateral Underwriter by Fannie Mae: Fannie Mae announces Collateral Underwriter (CU), a proprietary appraisal risk assessment application developed to support proactive management of appraisal quality. Click here to view the full article. Click here to be redirected to the CU webpage. The Appraisal Foundation: The ASB recently met in Washington, D.C. on October 17, Click here to view the meeting summary. The Appraisal Foundation: The Appraisal Practices Board (APB) of The Appraisal Foundation has issued the following document comment: Third Exposure Draft - Valuation of Green and High Performance Property: Background and Core Competency.Interested parties are encouraged to comment in writing to the APB before the deadline of December 12, The Appraisal Foundation: The Appraiser Qualifications Board (AQB) has issued the following: Exposure Draft of a Proposed Revision to the 2015 Real Property Appraiser Qualification Criteria and Guide Note 9 (GN-9). The Appraisal Foundation: Holiday Half Price Sale! Electronic

9 USPAP for just $30. Click here for more information. Like What You're Reading? Join NAIFA today to become one of us! NAIFA: Your professional home. Click here for more information! National Association of Independent Fee Appraisers 330 North Wabash Avenue, Suite 2000 Chicago, Illinois P: (312) F: (312) E: W: