December 2004

 

ACOW met as scheduled on THURSDAY, DECEMBER 9, 2004, 6:00 p.m., SEATTLE

 

AGENDA (including “Bullet Point” items), as covered

1. Secretary's Report
2. Treasurer's Report
3. President's Report
4. · LEGISLATIVE AFFAIRS:  2005’s successor to 2004’s 2SHB 1897 "Real Estate Appraiser Trainees” and Lender Pressure along with Predatory Lending (see the “Communicator, Fall 2004” and “Working Real Estate, August 2004”), and the Real Estate Excise Tax disclosure of data concerning sales by LLC’s (2004’s SHB 2574), and what else?
5. REAC Next Meeting to be 02-18-2005 at the Gen. Geo. C. Marshall at Ft. Vancouver in Vancouver, WA
6. · ACOW February 18, 2005, Seminar in Vancouver, WA, following REAC Meeting - Scheduling and Planning (Venue and Program Topics [Disciplinary Matrix, FNMA new forms or Supervising Trainees])
7. · DOL Appraisal Program - ListServ , Syd Beckett to retire and be succeeded by Jana L. Jones.
8. · DOL Appraisal Program - Disciplinary Matrix - draft, training and validation
9. · FNMA’s proposed changes to Form 1004, 2055, and TEN OTHERS!
10. · ACOW AT THE SUMMIT VII - Topics: Disciplinary Matrix, FNMA forms &/or Supervising Trainees &?
11. · Web Site enhancements underway - See www.acow-wa.org
12. · ACOW membership growth
13. ACOW Monthly Meeting Schedule - Posted on www.acow-wa.org
14. Other Old Business
15. New Business
16. Adjournment.
    

LEGISLATIVE AFFAIRS

Washington ’s Fifty-Ninth Legislature will convene its first year’s session on Monday, January 11, 2005. The issues known to be of concern to appraisers are:

TRAINEE APPRAISERS - ACOW is seeking the pre-filed introduction concurrently in both the House and Senate of a 2005 bill to authorize the establishment of a “State-registered Appraiser Trainee” classification within the Washington’s real estate appraiser program. The 2005 bill will be in the same form as 2003-2004’s 2SHB1897 passed 94-2-0-2 by the House and reported out 5-0 with a “ Due Pass“ recommendation by the Senate Commerce and Trade Committee before Senate adjournment. Please study 2SHB1897 and ask questions now, and contact your 2005 legislators in both chambers for their support of this legislation along with the ultimate Governor-elect and the Lt. Governor. A PDF file of the 2SHB 1897 is at < http://www.leg.wa.gov/pub/billinfo/2003-04/House/1875-1899/1897-s2.pdf >. The staff reports and the fiscal note are available at < http://www.leg.wa.gov/pub/billinfo > as is information on all bills from recent legislatures

LENDER PRESSURE - This important issue to appraisers is expected to be addressed as a part of likely action on the larger issue of Predatory Lending. Two publications sent quarterly to all certified and licensed real estate appraisers, the “Communicator” (Fall 2004) and “Working Real Estate” (August 2004), each contained articles dealing with this issue. The “Communicator” treats the subject in its “Editorial – A Few Bad Apples. . .” on page 35. “Working RE” gets to coping in “Survival 101 – Getting Along without Going Along”. The two are excellent companion reading pieces. Our national organizations are working on the issue with the federal government, and with FHLMC and FNMA. They also are seeking input from their members, such as through AI’s Appraiser Independence Action Center which provides resources to help appraisers combat client pressure < Appraiser Independence Action Center > .

DISCLOSURE BY LLC’S ON EXCISE TAX AFFIDAVITS - Sales Price information customarily disclosed through the amount of Real Estate Excise Tax paid with the filing of the Real Estate Excise Tax Affidavit is not available to local governments or to the general public when a property is transferred through a Limited Liability Company (LLC) because the tax is paid directly to the State Department of Revenue in such a transaction, and is subject to confidentiality requirements. This would have been corrected by 2004’s SHB 2574 originally introduced by Representative Rodney S. Tom (R-48, Medina) and supported by the Washington Association of Realtors (WAR) in testimony before the House Committee on Finance. There was no testimony against the bill, but the broader Substitute Bill’s five-member majority “Do Pass” report was accompanied by a four-member “Do Not Pass” report. No further action was taken on the bill. Representative Tom is a Kirkland Realtor Ò and plans to reintroduce the bill for the 2005 Legislature. Appraiser Jim Price is well-acquainted with Rep. Tom and believes that ACOW should lend its support to the 2005 bill so that this sale price data is available to appraisers. Please go to the Legislature’s “Bill Info” web site < http://www.leg.wa.gov/wsladm/billinfo1/bills.cfm > (in the midst of updating) or call the Legislative Hotline at 1-800-562-6000 to obtain a copy of 2004’s SHB 2574 and its House Bill Report to review because your feedback is needed on this seemingly beneficial legislation.

FINE TUNING (a/k/a TECHNICAL CORRECTIONS)

Real Estate Appraiser Act (18.140 RCW) –

 

• Terms of Real Estate Appraiser Commission (REAC) members are for six years, and were intended to expire at the rate of two or three every two years (2-3-2 basis). Through some forgotten situation in past years, a 5-0-2 basis evolved. Now it is necessary to restore the more logical original basis from the inception of the predecessor Advisory Committee through legislation to amend RCW 18.140.230(1);

 

• The composition of the REAC is required by RCW 18.140.230(2) to comply with the requirement that “. . . at least one member of the commission shall be a licensed real estate appraiser, . . . ”. The problem is that licensed appraisers have not come forward to fill this slot. It has been suggested that both the original intent together with the Governor being able to properly fulfill her or his duties by changing the word “shall” to either “should” or “may” (as the Code Reviser may desire);

 

• The definitions in RCW 18.140.010(5) and (17) together with those in WAC 308-125-010(5) and (6) of a “Certified appraisal” and of a ”Licensed appraisal” are obsolete under the statute and rule, and inappropriate under the Uniform Standards of Professional Appraisal Practice (USPSP), and should be deleted; and

definition of “Significant Appraisal Assistance” is needed in RCW 18.140.010 and in WAC 308-125-010 to be more consistent with the spirit and intent of the USPAP, and to facilitate the operation of the DOL Appraisal Program.   Uniform Business and Professions Act (18.235 RCW) - DOL is working on amendments to this statute enacted as Chapter 86 of the Laws of 2002 to replace the disciplinary sections of 18.140 RCW as well as those of the RCW’s governing the various other programs, that it regulates.   Real Estate Appraisers (308-125 WAC) - DOL is working on amendments to update these rules, such as to change references to the REAC from those referring to the predecessor Advisory Committee.  

REAL ESTATE APPRAISER COMMISSION

he REAC has scheduled its next meeting for just before the beginning of the Presidents’ Day Weekend on the morning of Friday, February 18, 2005. The venue will be the Gen. George C. Marshall House on the grounds of historic Fort Vancouver in Vancouver, Washington. This is in keeping with the policy of taking the meetings to various locations around the state. The proposed agenda still is in formation, so send your thoughts to David Santhuff < dsanthuff@dol.wa.gov > and Dean Potter < deanpotter@aol.com > on topics and your concerns. It and other pertinent information is expected to appear soon on the Appraisal Program web site < http://www.dol.wa.gov/app/appfront.htm > as hopefully will the draft of the minutes of the November 19, 2004, REAC meeting held at the historic Jacob Smith House Lacey.   Directions: Historic Fort Vancouver overlooks the Columbia River. It is located at the northeast corner of the intersection of I-5 and SR 14 (Lewis and Clark Highway). From I-5, use Exit 1C (south of Downtown) and go east on East 15 th Street (a/k/a East Mill Plain Boulevard), then immediately south on East Fort Vancouver Way. From the east on SR 14, the AAA Map suggests that the least confusing way is to use Exit 3 to East Evergreen Boulevard then west on it and/or East 5 th Street to Fort Vancouver National Park. 

ACOW NEW YEAR SEMINAR II

ACOW is planning to again host a program following the REAC meeting during the afternoon of Friday, February 18, 2005 in Vancouver, WA. Topics under consideration include the new Appraisal Program Disciplinary Matrix, the new series of appraisal test forms expected to be released soon by FNMA, and best practices for Supervising Trainees. E-mail ACOW via < www.acow-wa.org > or otherwise send your topic suggestions to the E-mail addresses above. The lunch portion will include ACOW business and a Legislative Update. Further details will come after the first of the year.

 

DOL REAL ESTATE APPRAISAL PROGRAM

LISTSERV ®

So far, the new Real Estate Appraiser Program < http://www.dol.wa.gov/app/appfront.htm > LISTSERV® has distributed six “Talking Point” Bulletins, one “Request For Proposal” from a city in Pierce County and other information. It behooves every certified and licensed appraiser and all trainees to receive these important broadcast messages. The Real Estate Appraiser Program's goal is to enhance communication with licensees with available new technology. The messages will be sent as needed to distribute law and rule changes, real estate appraiser licensing updates, and other new information. If you want to be in the know, you can register at LISTSERV® today. There is no cost to subscribe, and you may delete your address at any time. Congratulations to the some 10% of appraisers who are already signed up. All others, PLEASE DO SO TO KNOW THE NEWS.

  SYD BECKETT RETIRES   Syd Beckett has overseen both the Real Estate Appraiser, and the Real Estate Broker and Salesperson Programs in the Business and Professions Division of DOL for many years, and more recently has guided the Business and Professions Division as a whole. Syd recently announced his decision to retire at the end of 2004, and to enjoy the personal side of life a little more. The ACOW leadership has found Syd a good person to work with as the Appraisal Program has grown and matured over the past dozen years. We have learned to respect each other and developed a pleasant friendship as the years have marched on. Thank you, Syd, and best wishes.   Jana L. Jones, who has been Syd’s assistant most recently, will be his successor. ACOW looks forward to a continuing good and professional relationship with her as she begins her new duties.   DISCIPLINARY MATRIX

In response to requests from the appraisal community and ACOW, the REAC and the Appraisal Program Staff have developed a system to categorize and prioritize complaints filed against appraisers and to standardize fines, penalties and other sanctions leveled as appropriate. The result of this effort, < The Appraiser Program's Draft Disciplinary Matrix > is now available for your comments. Please participate in the Matrix validation process and complete the Validation Course to earn 3 free continuing education hours at the same time. You may find links to the appropriate RCW Chapters and WAC to the right under the Quick Clicks. The course exam answer sheet must be mailed to the Appraiser Program by January 31, 2005. You must obtain a passing score to receive credit. See the introductory “Validation Course #AP1581” to introduce the new “Disciplinary Matrix” developed by DOL and the REAC. Go to < http://www.dol.wa.gov/app/appfront.htm > without delay.

 

FANNIE MAE (FNM) ANNOUNCES APPRAISAL-RELATED CHANGES

Several items of interest to appraisers were included in “ Announcement 04-07 ” issued on November 8, 2004, < http://www.efanniemae.com/singlefamily/pdf/04-07.pdf >. As is typical for FNMA to do with its announcements, 04-07 covers a number of subjects. Some are unrelated to real estate appraisal, but several scattered throughout do concern appraisals and appraisers. There are significant changes modifying the test versions of Fannie Mae’s single-family appraisal reports series initially put forth this past summer in Announcements 04-02, 04-03 and 04-04. The second major appraisal-related issue concerns the “Sales History of the Subject Property” and its analysis by lenders. The third point having an impact on appraisers is a revision of Fannie Mae’s policy in response to unacceptable property flipping schemes. The last phrase should not be taken by anyone as an indication that there is somehow an “acceptable” property flipping scheme. The second and third items work together to bring appraisers more deeply into the processing of helping to provide lenders with the tools to stem the currently-prevalent mechanisms employed by predatory lenders, including their being abetted by appraisers. This only proves once again that appraisers must be alert to everything our clients and stakeholders publish.

The latest information on new happenings at Fannie Mae is best found at its web sites. Corporate news on a wide variety of topics is at its main site < http://www.fanniemae.com >. The Test Forms, the four Guide Announcements (04-02, 04-03, 04-04 & 04-07), appraisal report forms and instructions and virtually all other forms as PDF files at < http://www.efanniemae.com/singlefamily/sf_forms.jhtml >. Additional and other related items are available at < http://www.efanniemae.com >. The complete Fannie Mae Seller’s Guide, Part XI: Property and Appraisal Guidelines is available, section by section, at < http://www.allregs.com/efnma/index.asp >. Click on the “Refresh” icon if this link results in a “Can not Display” message screen appearing.

PROPOSED CHANGES TO APPRAISAL FORMS

The number of forms in the single-family (1 to 4 units) appraisal report series now has increased to twelve in Announcement 04-07 on pages 8-10. This is a result of two specialized forms each for individual condominium units and for individual cooperative apartment interests. The unique “Individual Condominium Unit Appraisal Report (Form 1073)” for complete exterior and interior property inspection returns to the series in a revised version. A new “Exterior-Only Individual Condominium Unit Appraisal Report” will continue as the Form 1075, replacing the current version.

The “Exterior-Only Inspection Residential Appraisal Report” (Form 2055) now is intended solely for one-unit appraisals (including individual units in PUD projects) and/or a property with an accessory unit based on an exterior-only property inspection, but for not an exterior and interior inspection. According to its Guidelines < http://www.efanniemae.com/singlefamily/forms_guidelines/selling_servicing/2055test.html >, the Test Form 2055 “appraisal report form is not designed or intended to be used to report an appraisal of a manufactured home, or an individual unit in a condominium or cooperative project.”

New to the Fannie Mae single-family appraisal report series are the specialized forms for the appraisal of an individual cooperative apartment. These properties are encountered most often in some longer-established major metropolitan areas, including in the Capitol Hill and Queen Anne neighborhoods of Seattle. Such a corporately-owned building typically dates to between the two World Wars. The “Individual Cooperative Interest Appraisal Report” is to be Form 2090 for an appraisal based on an exterior and an interior property inspection. The “Exterior-Only Inspection Individual Cooperative Interest Appraisal Report” (Form 2095) is introduced for an appraisal based on an exterior-only property inspection.

Lenders and appraisers may continue to use the original test appraisal report forms or the revised versions of the test forms until June 1, 2005, for purposes of satisfying Fannie Mae’s appraisal requirements (Guide Announcement 04-07 dated 11-08-2004 – pp. 8-10.). Encourage your client-lenders to use and comment on the test forms, and consider using them with private clients now to become proficient ASAP & ready for more comments. Implied date for Implementation of final versions of all forms continues to be on June 1, 2005.

Comments can be submitted either by E-mail to test_appraisal_forms@fanniemae.com or by USPS to Fannie Mae, Test Appraisal Forms, 3900 Wisconsin Avenue NW, Mail Stop 2H-4S-08, Washington, DC 20016, no later than 12-15-04 for the forms in Guide 04-07. Subsequent comments afterwards, however, may still have an impact. It is possible that a very brief comment period on anticipated “fine tunings” of the November 2004 versions of the Test Forms may open upon their expected announcement in early 2005. Copy your comments to ACOW, the appraisal organizations, other stakeholders, federal legislators, etc.

Most of the appraisal forms vendors also have released updates to their forms packages with the test forms, so check with yours if you have not yet received them. Some vendors have sent out newsletters with comments. Watch out for gossip, hearsay and rumors from others.

FANNIE MAE 2004 NEW FORMS – NOVEMBER REVISED TEST FORMS TABLE

 

Line No.	Guide Announcement	Form No.	Title of Test Form
1	04-07	1004	(Fannie Mae) Uniform (?) Residential Appraisal Report (November 2004) (Exterior AND Interior, including in a PUD).
2	04-02	1004B	Definitions, Statement of Limiting Conditions, and Appraiser’s Certification (May 2004).
3	04-07	1004D	Appraisal Update and/or Completion Report (November 2004)
4	04-07	1073	Individual Condominium Appraisal Report (11-04). (Ext. AND Interior)
5	04-07	1075	Exterior-Only Inspection Individual Condominium Appraisal Report (November 2004).
6	04-07	2055	Exterior-Only Inspection Residential Appraisal Report (Nov. 2004). (Including one unit in PUD Projects, but NOT Mfg, Condo or Co-op.)
7	04-07	1004C	Manufactured Home Appraisal Report (Nov. 2004).
8	04-07	1025	Small Residential Income Property Appraisal Report (Nov. 2004) (Exterior AND Interior).
9	04-07	2000	One-Unit Residential Appraisal Field Review Report (Nov. 2004).
10	04-07	2000A	Two- to Four-Unit Residential Appraisal Field Review Report (11-04).
11	04-07	2090	Individual Cooperative Interest Appraisal Report (November 2004).
12	04-07	2095	Exterior-Only Inspection Individual Cooperative Interest Appraisal Report (November 2004).

 

SALES HISTORY OF THE SUBJECT PROPERTY

On page 5 of Announcement 04-07, Fannie Mae clarifies its “expectation of lenders in their review of appraisal reports” as a part of their underwriting analysis. The process is to include review of the current contract for sale in purchase money transactions, current listings or other offerings for sale of all subject properties, current ownership information for all properties, and “sale (or transfer) history of the subject property, and comparable sales for both purchase and refinance transactions.” This information is to be supplied in keeping with both Fannie Mae’s instructions for its forms, and with the Uniform Standards of Professional Appraisal Practice (USPAP). Appraisers are urged to read and follow this part of Announcement 04-07 carefully.

PROPERTY FLIPPING

Fannie Mae describes this as “generally refer(ring) to the process of purchasing existing properties with the intention of immediately reselling the properties for a profit” in Announcement 04-07. Various schemes, scenarios and techniques are described in detail on pages 5–8. Lenders selling loans to Fannie Mae are “encouraged” to “implement (the necessary appraisal review and underwriting policy changes) as soon as possible (with its) revised underwriting policy (to be) mandatory for loan applications taken on or after May 1, 2005.”

Appraisers are expected to provide the necessary data to the lender in the appraisal report, and the lender is required to verify it through the appraisal review process. Any gaps in the data reported are to be filled it. “This policy modification will ensure that lenders and their appraisers understand the quality and timeliness of their data sources, identify time gaps in, and assess the accuracy of, their data sources.” Appraisers, and all of their reviewers and supervisors, are urged to obtain and study all of the announcements, forms and instructions at <http://www.efanniemae.com/singlefamily/sf_forms.jhtml>.

APPRAISAL REPORT DOCUMENTATION

Pages 14 through 19 are “Attachments” to the thirteen page main body of Announcement 04-07. They are the actual pages for insertions into the complete Fannie Mae Seller’s Guide. Several pages set forth the documentation that should be a part of the appraisal report or be reviewed by the appraiser in completing the appraisal assignment. Reviewing these with the information memos which have been sent out on the WA DOL ListServ offers appraisers excellent guidance in being USPAP compliant, including as to workfile content.

CHANGES TO FANNIE MAE CONVENTIONAL LOAN LIMITS

In its Announcement 04-08 dated November 30, 2004, Fannie Mae raised its original Maximum Mortgage Amounts for one to four family properties delivered to the corporation “on or after January 1, 2005” as summarized in the table below:

Fannie Mae Conventional Mortgage Loan Limits, effective January 1, 2005
Units	Contiguous 48 states, DC, & PR ($)			Alaska , Guam, Hawaii & Virgin Islands ($)
	First Mtg.	Second Mtg.	Combined	First Mtg.	Second Mtg.	Combined
1	359,650	179,825	359,650	539,475	269,725	539,475
2	460,400			690,600
3	556,500			834,750
4	691,600			1,037,400

 

STAY ALERT

The bundling of appraisal fees together with other costs associated with obtaining of a home loan is bad for many reasons, especially for both lender solvency and consumer protection. HUD remains under continuing intense pressure to revisit its withdrawn proposed new rule to change its implementation of the Real Estate Settlement Procedures Act (RESPA). THE ISSUE IS FAR FROM DEAD, and it is expected to come back to a front burner about a soon as the new Congress convenes. Read the national press and real estate industry publications. Lending and Title industry leaders are still lobbying for bundled services in spite of opposition from the Appraisal profession and other providers outside of the packagers’ loop who will get hammered! Consumers will loose what little protection they have left in the home-buying system because appraisers and others will fall captive to the packagers to stay in a declining business.

 

ACOW AT THE SUMMIT VII

Start your 2005 calendar by saving Thursday and Friday, August 18 & 19, 2005, for ACOW AT THE SUMMIT VII. Washington State’s annual gathering of real estate appraisers again is planned for the Best Western Snoqualmie Inn. ACOW expects to follow the same format of the past two years by following the REAC meeting to be held on Thursday morning. Potentially timely topics include a State of the Appraisal Program presentation by David Santhuff, the latest on best usage of the new Fannie Mae forms expected to have become mandatory on June 1, 2005, the best procedures for Supervising Trainees, and those timely topics that you feel are even more important to the well-being of appraisers and their publics. So, send in your thoughts via www.acow-wa.org .

 

 

USPAP INSTRUCTOR RECERTIFICATION PROBLEM

ACOW has discontinued exploration of its sponsoring the one-day Instructor Recertification Course that previously Certified USPAP Instructors must attend every two years, starting by June 2005. While The Appraisal Foundation (TAF) has not recognized the need of offering the course in the Pacific Northwest during 2005, ACOW does not feel that the anticipated costs and fees would be offset by the revenues. It is hoped that this does not lead to a shortage of instructors in the PNW, and that TAF will see fit to visit the Pacific Northwest in the next round of its offerings for this program. Questions should be sent to Mavis Kleso < mavis@appraisalfoundation.org >. The current schedule is at <http//www.appraisalfoundation.org/html/events/2004recert.asp>. Chris Eldred <cseldred@hotmail.com> will continue to monitor the impact on the PNW appraisal community of this situation.

 

ACOW MONTHLY MEETING SCHEDULE -- PLAN AHEAD

ACOW normally meets Every Month on the Thursday after First Monday (some years except July 4 week).  2005 MEETINGS DATES: January 6, 2005, followed by February 10, March 10, April 7, May 5, June 9, July 7, August 4, September 8, October 6, November 10, and December 8, 2005. NOW, Even months will be in Seattle and Odd months will be in Federal Way. Meetings are open to all appraisers, so please plan ahead and come.

WEB SITE ENHANCEMENT

The homepage at <www.acow-wa.org> now displays links for < Current ACOW Newsletter >, < ACOW Meeting Dates >, and < The Latest With Fannie Mae Forms > as its main presentation. The sidebar on the left takes the user to pages for Home (as above), About Us, Our Purpose, Chapters, Contact Us, Links, Ed Calendar, Individual Membership Application, and Archives. Please send your suggestions for fleshing these out to maximize their utility, and for other site enhancements. These are intended for further development in January.

HELPFUL HINT

For those of you who work in the City of Seattle and use the “Address Search” function of the now Department of Planning and Development (formerly DCLU) web site, the only/correct way to enter the “Street Name” of “Martin Luther King Jr.” (once “Empire”) Way South at < http://www.ci.seattle.wa.us/dclu/permitdesk/permitinfo/search.asp > is as “M L King” per an e-mail from < dpd.webteam@seattle.gov >. The following is from the web page:

Search Hints:
Enter the property address (above), and click on the Search button. The street name is the only required entry, and it must be an exact match. It does not matter whether you enter the street name in CAPS or not. Although the street number, prefix, type, etc are optional, it is recommended that you use them (to retrieve a more focused set of address results).

Notes:

 Street names must be entered precisely. (eg. to search for Broad Street, you must enter "Broad", not "Bro" or "BR")

 Numeric street names are entered as "2nd" or "34th", not "Second"

 When the results of the search appear, you may click on the column headers to re-sort the list.

To suggest improvements to this site, or to report technical difficulties, or to be removed from the distribution list, please email the Webmaster

ACOW MATTERS

CHAPTERS , become an active Organization Member. Your participation will benefit your members by strengthening the Appraisal Profession in our state. PLEASE SEND YOUR ACOW DUES ($25.OO per appraiser member, who becomes an Individual Member) for 2002, 2003 and 2004. Thank you to the Columbia Basin, Inland Northwest and Seattle Chapters of AI, and the South Puget Sound Chapter on NAIFA for strong support during 2004. Funding and participation by all appraisers and chapters is the key to a successful ACOW. If your chapter is not listed, or if you are not affiliated with a chapter, you also may become an Individual Member if you are a Certified or Licensed Washington State Appraiser. Aspiring future appraisers are encouraged to register with ACOW by making a similar donation to keep up to date on appraisal matters < www.acow-wa.org >.

ACOW needs the help of all chapters and individual appraisers with the essentials of Time, Talent and Treasure as we prepare for the future.  Please do your part.  Remember that our efforts through ACOW have won us an Expert Review Panel, a Commission rather than an Advisory Committee, a Dedicated Account for our fees, and much, much more.  There is still a lot of work to do in order to build on these successes.  Dues and donations are needed.

CHAPTER LEADERS :  Please pass this newsletter on to any and all of your appraiser distribution lists so everyone knows what is going on, and please try to have a representative of your chapter attend.

 CHAPTER SECRETARYS :  Please send your chapter leadership and membership lists with current e-mail addresses to ACOW at seaop@qwest.net

EVERYONE: ACOW’s mailing list is only as up-to-date as you make it! Postal and electronic mailings can only go to those who keep both ACOW and DOL advised of their whereabouts. Please contact the ACOW Administration Office by E-mail at seaop@qwest.net or by Fax at 206-623-4474 or by Voice at 206-622-8425 or by USPS mail at 6351 Seaview Avenue Northwest, Seattle, Washington 98107-2664 for the detailed information.

 ACOW Thanks the sponsor of its Winter and Summer Events, First American Real Estate Solutions < www.firstamres.com > for its gracious support.