The respondent is not certified as a real estate appraiser. She holds a real estate license. Her employer noticed payments on her 1099 received from LSI, a foreclosure company, for two property valuation reports. He reported these payments to the Board. The Commonwealth determined that these reports were appraisals completed without proper certification. Evidence indicates that more than two reports were completed, but additional records cannot be subpoenaed because the company is located out of state. The Commonwealth recommends $2,000 in civil penalties and a cease and desist order. The consent agreement presented by the prosecution was deliberated by the Board in executive session and was approved. Board members voiced frustration with the Board’s inability to discipline the company that solicited the reports. Vice-Chair ******* noted that HB2334, legislation to regulate Appraisal Management Companies in Pennsylvania, would prohibit companies like LSI from soliciting Broker Price Opinions (BPOs). The Board noted that BPO requests have increased due to a rising number of foreclosures. Chairman ******* noted that HR4173, the Dodd-Frank Financial Reform Bill, prohibits BPOs from being used as the primary basis to determine the value of a piece of property for the purpose of loan origination in conjunction with the purchase of a consumer’s principle dwelling. The provision is intended to codify GSE policies that prohibit the use of BPOs in mortgage loan origination. Board prosecution noted that any state legislation introduced will need to conform to this piece of federal legislation. Discussions took place on whether the Dodd-Frank Bill refers to individuals valuing the loan portfolio, or the loan risk, instead of the property itself. If the property does not change hands it is not considered a financial transaction. If this issue continues to raise concerns, the Board will pursue outlets of notifying the public that they are looking at this issue and actively prosecuting these cases.