As a Certified Residential appraiser and long-time appraisal professional I believe it is imperative that Virginia fully implement all of the Dodd-Frank mandates relating to AMC regulation in order for the intent of that legislation to be realized, and for the protection of the public market participants in real estate transactions. Also, having read the recently adopted Louisiana regulations it is clear that Louisiana recognizes that the public trust, and indeed the survival of the appraisal industry in general, hinges heavily upon the concept that appraisers should be compensated at an amount commensurate with the education, expertise, and work required to complete each report (now labeled "customary & reasonable" fees). I hope that Virginia will examine Louisiana's posture in this regard and adopt similarly assertive legislation.
