[Congressional Record Volume 152, Number 135 (Friday, December 8, 2006)]
[Extensions of Remarks]
[Page E2217]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   CONGRATULATIONS TO THE APPRAISAL INSTITUTE ON ITS 75TH ANNIVERSARY

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                            HON. RAY LaHOOD

                              of illinois

                    in the house of representatives

                        Friday, December 8, 2006

  Mr. LaHOOD. Mr. Speaker, I rise today to voice congratulations to the 
Appraisal Institute on its 75th Anniversary and for its advancement of 
the real estate appraisal profession. Established in 1932 to bring 
clarity to the real estate appraisal and valuation process in those 
turbulent times, the Appraisal Institute, with its national office in 
Chicago, Illinois, is the largest professional association of real 
estate appraisers, representing more than 21,000 real estate appraisal 
practitioners in the United States and abroad.
  Serving as an impartial third party in real estate transactions, 
members of the Appraisal Institute play an important role in 
maintaining integrity in the real estate market. Their unbiased and 
professional opinions are used everyday by builders, developers and 
financiers of commercial, industrial and residential properties. Armed 
with extensive knowledge and expertise, members of the Appraisal 
Institute assist federal, state and local governmental agencies that 
acquire, manage and dispose of real property throughout the country.
  Founded on the premise that superior education and adherence to high 
ethical standards are central to the profession, the Appraisal 
Institute established professional designation programs to recognize 
achievement in these areas. Today more than 11,000 members of the 
Appraisal Institute hold its prestigious MAI, SRA and SRPA 
designations. They have demonstrated their knowledge, skill and ethical 
performance through a stringent program of examinations and work 
product review. Through its education, publishing and membership 
designation programs, the Appraisal Institute positions its members as 
the preferred choice for real estate solutions.
  The Appraisal Institute has a long history of supporting initiatives 
consistent with the public good that promote the use of competent 
appraisers, including the licensing and certification of appraisers. 
The organization was instrumental in the development of national 
uniform appraisal standards recognized by Congress in 1989. The 
Appraisal Institute continues to advocate for important public policy 
issues affecting consumers and homebuyers, including laws that would 
strengthen oversight and enforcement mechanisms designed to prevent 
mortgage fraud.
  The Appraisal Institute supports equal opportunity and 
nondiscrimination in the appraisal profession and is committed to 
promoting diversity within its membership and throughout the real 
estate profession. Through scholarships, training and advocacy the 
Appraisal Institute's diversity program seeks to enhance opportunities 
for minorities, women and those individuals new to the profession.
  For 75 years the Appraisal Institute has been a beacon of integrity 
for the real estate appraisal profession and for those it serves. In 
recognition of its theme for 2007, Celebrating Our Past, Valuing the 
Future, I congratulate the Appraisal Institute and its members for 
their years of service, and I wish them continued success in their 
mission.

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