Virginia Coalition of Appraiser Professionals Inc.

The Virginia Coalition of Appraiser Professionals Inc. (VaCAP) is a nonprofit organization composed of volunteer appraisers. The organization is dedicated to promoting public confidence in the appraisal profession by advocating for the interests of appraisers and protecting the public.

Mission and Activities

VaCAP works to enhance the image of the appraisal profession among both public officials and the general public in the Commonwealth of Virginia. It engages in discussions and analyses of issues affecting professional appraisers, such as regulatory matters and professional standards. VaCAP also closely monitors the actions of state governmental bodies to influence legislation and public opinion favorable to the appraisal profession.

Public Policy and Advocacy

VaCAP participates in shaping public policy by commenting on proposed regulations and legislation that impact appraisers. For example, they have engaged with efforts regarding customary and reasonable fees for appraisers, as mandated by the Dodd-Frank Act. In Virginia, VaCAP supported the adoption of the Veteran Affairs Fee Schedule as a presumption of compliance for determining these fees, which was approved by the Virginia Real Estate Appraiser Board.

Community Engagement

VaCAP collaborates with other appraisal coalitions and organizations to advance the interests of appraisers across the United States. It encourages appraisers to join and participate in state coalitions to foster collective benefits for the profession.

Issues and Challenges

VaCAP addresses various challenges facing the appraisal industry, including issues like appraisal bias, regulatory compliance, and the impact of appraisal management companies on the profession. They also work to counter misconceptions about appraisers' roles and responsibilities in the mortgage lending process.