On September 5, 2014, Relocation Appraisers & Consultants, Inc. (RAC) became the newest member of The Appraisal Foundation Advisory Council (TAFAC). RAC member, Thomas E. Allen, CRP, recently attended the TAFAC’s general membership meeting in Washington, D.C.
TAFAC is composed of 58 non-profit organizations and government agencies, which represent appraisers, users of appraisal services and government agencies. TAFAC serves to involve the public in the appraisal standards and appraiser qualifications development process.
Member organizations of TAFAC represent various professions and occupations. TAFAC currently includes organizations representing appraisers, home builders, real estate brokers, financial institution regulators, federal land acquisition agencies, the secondary mortgage market and the private mortgage insurance industry.
TAFAC makes recommendations to the Appraisal Standards Board (ASB), Appraiser Qualifications Board (AQB) and Board of Trustees (BOT) on major issues pending before the Boards. In addition, recommendations are also made regarding agenda of projects, the selection of task forces, amendments to the Uniform Standards of Professional Appraisal Practice (USPAP), Statements or Advisory Opinions under development by the ASB and revisions to the AQB Appraiser Qualification Criteria and Interpretations/Clarifications.
RAC is very excited about being a member of TAFAC and this opportunity to serve the appraisal industry.