George Panichas of Lincoln Appraisal & Settlement Services Makes Influential Speech at the 2013 CRN Valuation Expo Meeting in Las Vegas

Share Article

One of the founding partners of Lincoln Appraisal & Settlement Services spoke at the 2013 CRN Valuation Expo Meeting in Las Vegas on the issues facing the appraisal industry today.

George Panichas of Lincoln Appraisal & Settlement Services

George Panichas, Lincoln Appraisal & Settlement Services

We need to find a way to come together as an industry.

George Panichas, a founding partner of the National Appraisal Management Company Lincoln Appraisal & Settlement Services, spoke at the 2013 Collateral Risk Network (CRN) Valuation Expo Meeting in Las Vegas on June 18, 2013.

The 2013 CRN Valuation Expo Meeting took place from 9am – 4pm EDT on Tuesday, June, 18, 2013 at the Flamingo Hotel and Casino in Las Vegas, NV. Formed in 2003 in Orlando, Florida, the Collateral Risk Network (CRN) is a group which consists of key stakeholders in the valuation industry such as collateral risk managers, experts in valuation and industry regulators with a focus on working to resolve new and ongoing issues facing the industry today. The group is represented by a variety of institutions, including various lenders, Fannie Mae and Freddie Mac, the Veteran’s Administration, the Federal Housing Administration, Wall Street, and appraisers from all over the United States.

Panichas made his presentation during the AMC Opportunities and Challenges section of the meeting, and his speech discussed the history of how Lincoln Appraisal was founded, as well as how the AMC has adapted to the many changes which have transformed the industry in recent years. Panichas stated a consistent frustration with the lack of communication within the industry, stating, “I am constantly amazed at how we have an industry that has several moving parts of which most constituents involved either don't talk to one another at the macro level or vigorously dislike one another.”

When discussing the potential future of the industry, Panichas stated, “At this point, we as an industry have a decision to make. All the various trade groups can individually continue to operate in Washington and the states as separate entities, with each trying to influence policy toward their particular vision, or, we can choose to work together.” Panichas clearly stated his stance on the issue when he said firmly, “Let’s come together as an industry!”

Panichas concluded his argument with this: “We need to find a way to come together as an industry; to get new appraisers into the business; to clearly illustrate why we have been and will continue to be the best alternative for mitigating mortgage risk and protecting taxpayers; and to continue to innovate and provide the value add to lenders and homeowners at a price point that keeps the appraisal profession attractive and relevant in order for the future to remain bright.”

George Panichas is a founding partner of Lincoln Appraisal and has been instrumental in taking the company from being a regional firm to becoming a National Appraisal Management and Settlement Services Company. He is also the elected President of the National Association of Appraisal Management Companies (NAAMC). NAAMC is a non-profit organization dedicated to promoting appraiser independence and increasing appraisal knowledge and transparency throughout the real estate industry, and is nearing its one-year anniversary in July of 2013.

ABOUT LINCOLN APPRAISAL

Founded in 1998, Lincoln Appraisal & Settlement Services, headquartered in North Providence, RI, is a national Appraisal Management (AMC) and Settlement Services Company. Lincoln Appraisal provides a full suite of residential, commercial, and specialized appraisal services to the real estate industry throughout the United States and Puerto Rico. Additional information can be obtained by visiting http://www.LincolnAppraisal.com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Visit website