My New Blog

Fed leaves rate steady in U.S.; no sign of future cut
http://www.iht.com/articles/2007/08/08/business/08fed.php

I find it far from surprising, but it sure is sad how dishonesty by a few people can lead to such turmoil for so many people..

Credit squeeze reaches dramatic stage  

Commentary: Central banks pour in cash, but underlying problem still alive http://www.saposnekappraisal.com/News?ID=64185

U.S. Fed injects another $38 bln into financial market
http://news.xinhuanet.com/english/2007-08/11/content_6511077.htm

Regulator rejects Fannie Mae's plea
http://www.msnbc.msn.com/id/20219658/

UPDATE 2-Countrywide, WaMu fall on heightened mortgage worry
http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-08-10T220518Z_01_N10297873_RTRIDST_0_MORTGAGE-LENDERS-UPDATE-2.XML

Central banks act to head off global credit crisis
http://today.reuters.com/news/articlebusiness.aspx?type=ousiv&storyID=2007-08-10T201919Z_01_L10195866_RTRUKOC_0_US-CENTRALBANKS.xml&pageNumber=0&imageid=&cap=&sz=13&WTModLoc=BizArt-C1-ArticlePage4

Subprime fallout draws comparisons to past crises
http://today.reuters.com/news/articlebusiness.aspx?type=ousiv&storyid=2007-08-10T160026Z_01_N08320171_RTRUKOC_0_US-USA-CREDIT.xml&WTmodLoc=BizArt-R2-MostViewedBiz-3&from=business

Those who fail to remember the past are DOOMED to repeat it

	08 August 2007

Welcome... Welcome to the Foundation E-News, an electronic publication of The Appraisal Foundation! Articles include.... *Boards Vacancies - Deadline Extended until 8/31/07 *Reformatted USPAP for 2008 *Implementation of the 2008 Real Property Criteria *Foundation Publications (scroll down for articles) DEADLINE EXTENDED Candidates Sought for Boards Vacancies The Appraisal Foundation is in the midst of its annual search for qualified candidates to serve on one of its three Boards. The deadline for completed applications for vacancies on the Board of Trustees, the Appraiser Qualifications Board (AQB) and the Appraisal Standards Board (ASB) has been extended until August 31, 2007. * Board of Trustees: There are three At-Large Trustee seats available this year, with two incumbents eligible for re-appointment. The Board of Trustees of The Appraisal Foundation is charged with funding the work of and appointing members to the AQB and ASB, as well as providing oversight of these two Boards. The Board of Trustees meets twice a year, in the Spring and Fall. Trustees are reimbursed for travel expenses and are not compensated for their time. The individuals selected for positions on the Board of Trustees will serve three-year terms commencing January 1, 2008. * Appraisal Standards Board: There are up to three vacancies on the Appraisal Standards Board (ASB), with two incumbents eligible for re-appointment. The ASB is charged with developing, interpreting and amending the Uniform Standards of Professional Appraisal Practice (USPAP). Applicants must have both a familiarity with USPAP and a minimum of ten years of appraisal experience. The ASB meets five times per year for approximately fifteen days. Individuals serving on the ASB are compensated for their time and are reimbursed for travel expenses. The individuals selected for a position on the ASB will serve a term of up to three-years commencing January 1, 2008. * Appraiser Qualifications Board: There are up to four vacancies on the Appraiser Qualifications Board (AQB), with three incumbents eligible for re-appointment. The AQB is responsible for setting minimum qualification criteria for state licensure and certification of real estate appraisers and has established voluntary qualification criteria for personal property appraisers. Applicants must have both a familiarity with appraiser qualifications and a minimum of ten years of appraisal experience. The AQB meets four times per year for approximately ten days. Individuals serving on the AQB are compensated for their time and are reimbursed for travel expenses. The individuals selected for the AQB positions will serve a term of up to three-years commencing January 1, 2008. The Appraisal Foundation is interested in expanding the diversity of all Boards by considering applications from business leaders with an interest in valuation or involved in various appraisal disciplines. Application packages for all positions outlined above are available by clicking here. If you have any questions please contact Anne Raley (anne@appraisalfoundation.org). When requesting information on the applications via e-mail, please use the phrase "2007 BOARDS APPLICATION INFORMATION" in the subject line, and please include your full name, mailing address and phone number. TAF To Issue Reformatted USPAP Standards and Guidance in One Document The Appraisal Foundation, a congressionally-authorized nonprofit organization that fosters professionalism among appraisers by setting qualifications and standards, announced the upcoming release of the latest edition of Uniform Standards of Professional Appraisal Practice (USPAP), which will be effective for two years, from January 1, 2008 to December 31, 2009. The new two-year cycle will stabilize the standards for the benefit of appraisers, the users of appraisal services and professionals who enforce the standards while enabling all parties to become even more familiar with USPAP. “We listened to the feedback we received from our many constituencies and made the decision to transition from an annual publication to a 24-month cycle,” said Gregory J. Accetta, chairman of the Appraisal Standards Board (ASB), the Foundation Board, which promulgates USPAP. “Over the past two decades, USPAP has become a more stable document. This allows us to make a change to the publication schedule, which we believe will be well-received by appraisers, users of appraisal services and appraiser regulators.” In addition, the new edition of USPAP will include guidance from the ASB in the form of the USPAP Advisory Opinions and the USPAP Frequently Asked Questions (FAQs), which had previously been published separately. Combining USPAP and ASB guidance in one publication gives appraisers better access to information and answers all in one spiral-bound, easy-to-use volume, which will include a master index for the first time. The new publication will be offered at a cost of $50. “Having all of the USPAP-related information at your fingertips should be a time savings for everyone,” Accetta added. “The Appraisal Standards Board continuously strives to improve USPAP and its related guidance to provide a useful publication that informs appraisers and the users of appraisal services of the requirements for ethical and competent appraisal practice.” Resources Available to Assist in Understanding the New AQB Criteria In order to ensure that the changes to the AQB Real Property Appraiser Qualifications Criteria, effective 1/1/08, are understood by all impacted parties, the Foundation has produced a three-hour video production that can be viewed at the Foundation web site: www.appraisalfoundation.org/criteriavideo The material is arranged in a modular format allowing viewers to choose from 19 various topics. Any additional questions regarding the AQB Criteria can be directed to Magdalene Vasquez, AQB Administrator, magdalene@appraisalfoundation.org. Foundation Publications Watch our Web Site for Specials on 2008 Publications! The Appraisal Foundation is working on its new 2008 Publications Catalog! In the coming weeks, please visit the Foundation Store on the Foundation's web site to preview our 2008 selections. Under development for next year is a new USPAP Monthly Q&A Electronic Subscription Service. In addition, we will feature a re-designed USPAP that will incorporate guidance material including Advisory Opinions and FAQs!