Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > Fannie Mae, Freddie Mac, USPAP
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #61  
Old 05-03-2012, 07:48 PM
BRCJR BRCJR is offline
 
Join Date: Sep 2005
State: Virginia
Professional Status: Licensed Appraiser
Posts: 3,104
Default

Quote:
Originally Posted by JamesRockford View Post
I agree.

Doesn't sound like a very serious Compliance Officer to me.

Those guys usually don't hand out "flippant" opinions like that one did.
You are assuming too much. My question was no more detailed than the OP was in presenting his concern.

I sure am glad he did not direct me to turn in every USPAP violation regarding previous services and exposure time I have discovered this year.

We try to use common sense and expect people we do business with to try and do the same.
Sponsored Links

  #62  
Old 05-03-2012, 07:53 PM
BRCJR BRCJR is offline
 
Join Date: Sep 2005
State: Virginia
Professional Status: Licensed Appraiser
Posts: 3,104
Default

Quote:
Originally Posted by NORTON View Post
we may not understand regulation Z...but we also don't ask anybody to violate it!
What is the violation the OP was exposed to?
  #63  
Old 05-03-2012, 09:49 PM
timd354's Avatar
timd354 timd354 is offline
 
Join Date: Jan 2008
Location: Baltimore-Washington Metro Area
State: Maryland
Professional Status: Certified Residential Appraiser
Posts: 4,754
Default

Quote:
Originally Posted by BRCJR View Post
I agree with you.

The Compliance Officer is not going to look at the presented situation as a very serious one. I am stating that on the facts presented.
I just spoke to our Compliance Officer and posed this scenario. He wondered why everyone did not have more important things to do than focus on something that trivial. He wants fraud reported or a provable breach of law, not some, "I think he may be possibly trying to influence me because he did not know he should send all his information in one email or did not know he had to request using the language of a lawyer".

Ever wonder if the LO is fresh from management training, very much like a newly licensed appraiser?

Appraisers should try to remember, in my opinion, that lenders (LO) understand the appraisal world about as much as appraisers understand the lenders world.

Lenders know about the USPAP about as much as Appraisers know about Reg Z, for example.

Times like the presented are an excellent chance to educate and share insight with each other.

Everyone is a rookie sometime, somewhere.
Compliance officers, just like appraisers, vary widely. I know some compliance officers who would attempt to get the LO and the processor terminated in this situation, especially if they were repeated offenders. There are quite a few lenders that have internal policies prohibiting LOs from having any contact with the appraiser.
__________________
This post solely represents my personal opinion which may not reflect the policies of my employer
  #64  
Old 05-04-2012, 05:45 AM
rcsone rcsone is offline
 
Join Date: May 2007
State: Oklahoma
Professional Status: Certified Residential Appraiser
Posts: 1,111
Default

....more laws or regs to unenforce.....best to all........rs
  #65  
Old 05-04-2012, 06:06 AM
BRCJR BRCJR is offline
 
Join Date: Sep 2005
State: Virginia
Professional Status: Licensed Appraiser
Posts: 3,104
Default

Quote:
Originally Posted by timd354 View Post
Compliance officers, just like appraisers, vary widely. I know some compliance officers who would attempt to get the LO and the processor terminated in this situation, especially if they were repeated offenders. There are quite a few lenders that have internal policies prohibiting LOs from having any contact with the appraiser.
Additional terms to the OP would also change my mind. I make my comments based upon the OP and no subjectivity added.

There is no reference to it being a repeat offender or what the lender policy is.
A different situation would also create a different position on my part, most likely.

I am replying only on what is posted and not on other possibilities.
  #66  
Old 05-04-2012, 09:17 AM
Ca Ar Independent's Avatar
Ca Ar Independent Ca Ar Independent is online now
 
Join Date: Sep 2011
State: California
Professional Status: Certified Residential Appraiser
Posts: 1,277
Default

My recent experience involved being contacted directly by the LO (I didn't know she was the LO at the time, new Bank, lots of people involved with processing) who asked me to "reconsider" the value. She sent over the "other appraisal". I reminded myself that I was not hired to review this POS obvious "value push" piece of work, but to merely address her concerns. I looked a the 3 comps she suggested, addressed the other appraisals mathematical errors which only strengthened my well supported value. She went away and I thought this was over and done, while slightly surprised that someone from inside the bank would be operating this way. Anyway, a couple of weeks later I get the EXACT SAME request from someone else in the bank (seems she had escalated this to a formal request for consideration). I forwarded the original email string (with original request and my response) explaining politely that I had "already been contacted by someone at the bank" regarding this and here is my analysis and response. Apparently this put her on front street since the appraisal review department did not know she had already asked me about this. I'm guessing (hoping) I won't hear from her again. The compliance department then called me and asked me to "help them" police their employees by verifying who may be contacting me in the future. He indicated it would be my responsibility to be sure that I was not talking to loan origination. I am supposed to check email signatures (and apparently ask any phone caller) what area of the bank they work for. Had a similar thing happen recently with a different bank, with the approval department nervously phoning asking if I could "get a little more" out of the appraisal.
  #67  
Old 05-04-2012, 05:32 PM
JamesRockford JamesRockford is offline
 
Join Date: Oct 2010
Location: Paradise Cove, Malibu, CA
State: California
Professional Status: Certified General Appraiser
Posts: 714
Default

Quote:
Originally Posted by BRCJR View Post
You are assuming too much. My question was no more detailed than the OP was in presenting his concern.We try to use common sense and expect people we do business with to try and do the same.
Not assuming anything, just responding to your post regarding your CO's comments on the OP's situation here.

And based on the OP's later posts, it appears your CO was incorrect in his "analysis" and this WAS undue value influence and therefore a violation of Dodd-Frank that SHOULD be reported.

All you have to do is read the post above this one.
  #68  
Old 05-04-2012, 06:58 PM
BRCJR BRCJR is offline
 
Join Date: Sep 2005
State: Virginia
Professional Status: Licensed Appraiser
Posts: 3,104
Default

Quote:
Originally Posted by JamesRockford View Post
Not assuming anything, just responding to your post regarding your CO's comments on the OP's situation here.

And based on the OP's later posts, it appears your CO was incorrect in his "analysis" and this WAS undue value influence and therefore a violation of Dodd-Frank that SHOULD be reported.

All you have to do is read the post above this one.
The additional posts did not exist when I posed my question to the CO.

Your positon is akin to holding me responsible for a sale that ocurred after the effective date. More information has come forth since the first post. My comments were based upon the first post only. I read nothing in the first post that rises to the level of unlawful.

Keep things in order and post accordingly, otherwise one can twist comments.
  #69  
Old 05-04-2012, 11:30 PM
Webbed Feet's Avatar
Webbed Feet Webbed Feet is offline
 
Join Date: Feb 2005
Location: City of Free Speech
State: Other Non-US
Professional Status: Certified Residential Appraiser
Posts: 12,135
Default

Quote:
Originally Posted by Denis DeSaix View Post
Dodd-Frank cuts both ways.
Appraiser Independence vs. USPAP or professional violations. Both types of complaints can be abused (I'm not saying the OP is abusing the process or that he/she doesn't have a valid issue to complain about).

For me, the rule is simple: I'd make a complaint against a loan officer, other entity, etc., for the same type/level/degree of violation I'd expect a complaint to be filed against me.

That standard is pretty high. In other words, I'd expect to be reported if I had a blatant or serious violation. I don't hit a value, I don't expect to be reported.
Likewise, I wouldn't report a lender unless their violation was as serious. Asking me to look at additional sales is not a blatant or serious violation. Telling me I won't get any future work because I didn't hit their value is a serious violation.

That's my standard: I'll treat others as I expect to be treated. It makes life simple and makes working with others easy to do.
I like the above post.

I'm tired of reading posts about an appraiser that did a good job "coming in low." For once, I'd like to read a post from an appraiser accusing him or herself of "Coming in credible."

Last edited by Webbed Feet : 05-05-2012 at 09:36 AM.
  #70  
Old 05-04-2012, 11:37 PM
Webbed Feet's Avatar
Webbed Feet Webbed Feet is offline
 
Join Date: Feb 2005
Location: City of Free Speech
State: Other Non-US
Professional Status: Certified Residential Appraiser
Posts: 12,135
Default

Quote:
Originally Posted by Ca Ar Independent View Post
My recent experience involved being contacted directly by the LO (I didn't know she was the LO at the time, new Bank, lots of people involved with processing) who asked me to "reconsider" the value. She sent over the "other appraisal". I reminded myself that , but to merely address her concerns. I looked a the 3 comps she suggested, addressed the other appraisals mathematical errors which only strengthened my well supported value. She went away and I thought this was over and done, while slightly surprised that someone from inside the bank would be operating this way. Anyway, a couple of I was not hired to review this POS obvious "value push" piece of workweeks later I get the EXACT SAME request from someone else in the bank (seems she had escalated this to a formal request for consideration). I forwarded the original email string (with original request and my response) explaining politely that I had "already been contacted by someone at the bank" regarding this and here is my analysis and response. Apparently this put her on front street since the appraisal review department did not know she had already asked me about this. I'm guessing (hoping) I won't hear from her again. The compliance department then called me and asked me to "help them" police their employees by verifying who may be contacting me in the future. He indicated it would be my responsibility to be sure that I was not talking to loan origination. I am supposed to check email signatures (and apparently ask any phone caller) what area of the bank they work for. Had a similar thing happen recently with a different bank, with the approval department nervously phoning asking if I could "get a little more" out of the appraisal.
Someday, the majority of this trade will finally decide that ethics requires they police their own by filing board complaints whenever they are sent "POS" appraisal reports. Until then, the extreme minority will carry the burden of it for everyone else.
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 06:54 PM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93