The Appraisal Regulation Compliance Council (ARCC) is a nonpartisan, nonprofit academic research organization dedicated to helping consumers and policymakers navigate the complex policies that shape mortgage regulations, market valuations and housing affordability. ARCC provides evidence-based research, commentary and analysis that highlight appraisers’ duty to uphold the public trust.
More than one in five workers—approximately 22% of the U.S. workforce—is directly impacted by regulation. ARCC’s research examines unaligned state regulations, gaps in federal policies such as Dodd-Frank, Title XI and FIRREA, and issues within a real estate finance system rife with appraisal control fraud. Our mission is to identify regulatory and market practice deficiencies that require urgent resolution to safeguard the public and ensure a fair, functional real estate market.
Using data from the Federal Housing Finance Agency’s 2024 Uniform Appraisal Dataset (UAD), ARCC has developed and maintains an active mortgage valuation and regulatory compliance database. This resource tracks the effects of government regulations on consumers and licensing by state. Leveraging this national database, ARCC provides nonpartisan research to support analysis and insights from leading experts in the real estate market.
Co-Founder and Director. Lori successfully spear-headed appraiser licensing reform in her state to remove barriers to entry and conflicts of interest with the passage of the 2022 WV Licensing Board Act.
Regularly quoted in leading specialist outlets such as American Banker, Housing Wire and Yahoo Finance, her knowledge of federal and state appraisal regulation has positively impacted policy at the state and national level. Lori observed the negative impact of the current appraisal regulatory system on the diversity of appraisers and the enthusiasm of new entrants as well as the independence of residential fee appraisers. ARCC academic research is a result of the gap in research for policymakers. The challenge offers opportunity to educate policymakers and the public through outreach. Lori completed her BA in Real Estate Studies from Forbes School of Business. She is an SRA designation licensee, VA panel appraiser, and currently serves as a mentor to licensees serving rural and underserved Appalachia.
Co-Founder and Director. Over the last ten years, Josh has created and operated a regional bank’s Appraisal Department based on careful compliance with all GSE requirements in addition to the Interagency Appraisal & Evaluation Guidelines, Dodd Frank, TILA, and FIRREA. Josh recognized the lack of information regarding appraisal regulations and laws and the need for consumers and regulators to better understand the valuation profession from a nonpartisan academic research organization. Josh’s efforts empower other banks' chief appraisers and consumers to protect themselves from unethical/illegal practices and show regulators how to assist them in making more informed decisions when writing rules, regulations, and laws. Josh completed his BS in Business Administration (Economics) at Oklahoma State University. Josh served in the US Air Force and is a combat veteran.
Cindy’s commitment to appraisal regulatory reform
during her tenure as CEO of the Appraisal Institute, Cindy had a unique vantage point from which to observe the complexity and dysfunction of the appraisal regulatory structure. With the discipline of an academic, she engaged in critical analysis and openly addressed the need for a comprehensive review of oversight and regulations. Her commitment to transparency and reform sparked renewed interest in regulatory improvements among licensees—an effort that likely contributed to her departure just one year into her turnaround of the organization.
Cindy’s work with the Appraisal Regulation Compliance Council (ARCC) reflects her continued dedication to academic and practical research that supports transparency in appraisal regulation at both the state and federal levels. She believes that regulatory reform and a strong professional framework are essential for appraisers, a profession with a unique ethical and legal responsibility to independently verify valuations that underpin the $3.4 trillion U.S. residential and commercial real estate market.
Cindy holds a Ph.D. in social and political philosophy and began her career teaching ethics and public policy at Trinity University, a minority-serving institution in Washington, D.C.
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