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Reported to Investigation Bureau

Discussion in 'General Appraisal Discussion' started by Caitlyn Stuart, Nov 7, 2009.

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  1. Caitlyn Stuart

    Caitlyn Stuart Sophomore Member

    1
    Aug 9, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    I just received notification that I've been reported to the Bureau of Enforcement and Investigation.

    Did an inspection on behalf of a bank - borrower is disappointed in the value. Borrower wanted to discuss the appraisal with me of which I told her any descrepancies with the report had to be directed through the bank.

    I guess she didn't like my response and probably not the response from the bank.

    So - now I have to take the time to submit all sorts of documentation to the State.

    In my opinion - I was hired by the bank - paid by the bank - the bank owns the appraisal - so why do I have to respond to the customer's complaint?

    Oh, also she made a statement during the inspection that she recently had an appraisal done with another bank of which came in substantially lower than one she had several years ago and she stated she reported the bank to the commission of banking. Huh?

    Any opinions?
     
  2. CANative

    CANative Elite Member

    251
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I doubt if anything will come of it. Most boards don't give any regard to value disputes.
     
  3. dspur59

    dspur59 Sophomore Member

    0
    Apr 30, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Lots of 'em. But most arnt printable, much less appropriate for public discourse. Sounds like they have you trapped into spending your valuable time and money to defend yourself. If you win, countersue.
     
  4. panappr

    panappr Senior Member

    5
    Dec 5, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    My opinion is.... Since we have lost our ability to communicate with third parties we are helpless to navigate away from such troubles. My clients used to be a good buffer between me and the borrower, but now I really don't even know my clients, and it seems they would just as soon throw me under the bus.:unsure:
     
  5. panappr

    panappr Senior Member

    5
    Dec 5, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Lately every appraisal is a trap...m2:
     
  6. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    If the State wants your file, just send it to them. But don't worry about it for one second.
     
  7. Mike Kennedy

    Mike Kennedy Elite Member

    184
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Any opinions?

    Immediately notify your E&O Carrier - let THEM guide you. Recommend no further PUBLIC DISCUSSION. The Internet has "eyes".
     
  8. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois


    Any opinions? Yes. If it had been me, the moment the homeowner shared that bit of information with me, I would have declined the assignment. Seriously.

    And, of course, you are not responding the the "customer's complaint", you are responding to your state's licensing agency.
     
  9. Carnivore

    Carnivore Elite Member

    0
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Absolutley, a sure sign of trouble ahead!

    Good advice to always keep in the back of our minds this day forward.
     
  10. NORTON

    NORTON Senior Member

    0
    Oct 10, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    let the investigators know how u wish u could talk to the borrower but the rules / governing bodies state you CAN NOT FOR ANY REASON DISCUSS PROPERTY DETAILS....AND THEN STEER THEM TO THE STATE CAPTIAL APPRAISAL DEPARTMENT. and then just for kicks....print a few charts of the county, zip code, etc....during the prior two years and make that arrow big and red showing down for the prior 24 months.
     
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