my name is francois k. gregoire. i go by frank. i do not speak french. i'm a realtor but earn my living as a real estate appraiser. my qualifications are fully detailed in my written testimony. nar believes a strong independent rah appraisal profession is important to real estate consumers and the industry and vital to restoring faith to the mortgage origination process. appraisals are critical for the housing market recovery. there's no question about the importance of appraisals in real estate and mortgage transactions. a credible valuation by a competent, licensed or certified professional provides benefits to the lender, borrower and secondary markets. public trust in the real estate profession is enhanced. there are obstacles to preventing realization of these benefits. among the obstacles is weakened appraiser competency. despite good intentions, litigation and regulation has diminished the importance of appraisal economicy as criteria for appraisal selection and retenti retention. the insertion of appraisal management companies between loan origin