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  #1  
Old 11-07-2009, 12:07 PM
Caitlyn Stuart Caitlyn Stuart is offline
 
Join Date: Aug 2002
Location: Northwestern Pennsylvania
State: Pennsylvania
Professional Status: Certified Residential Appraiser
Posts: 173
Default Reported to Investigation Bureau

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?
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  #2  
Old 11-07-2009, 12:15 PM
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CANative CANative is offline
 
Join Date: Jun 2003
Location: Hopland, CA
State: California
Professional Status: Certified Residential Appraiser
Posts: 42,891
Default

I doubt if anything will come of it. Most boards don't give any regard to value disputes.
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  #3  
Old 11-07-2009, 12:17 PM
dspur59 dspur59 is offline
 
Join Date: Apr 2009
State: California
Professional Status: Certified Residential Appraiser
Posts: 106
Default

Quote:
Originally Posted by Caitlyn Stuart View Post
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?
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  
Old 11-07-2009, 12:19 PM
panappr panappr is offline
 
Join Date: Dec 2007
Location: Los Angeles
State: California
Professional Status: Certified Residential Appraiser
Posts: 4,713
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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.
  #5  
Old 11-07-2009, 12:23 PM
panappr panappr is offline
 
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Location: Los Angeles
State: California
Professional Status: Certified Residential Appraiser
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Quote:
Originally Posted by dspur59 View Post
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.
Lately every appraisal is a trap...
  #6  
Old 11-07-2009, 12:27 PM
Lloyd Bonafide's Avatar
Lloyd Bonafide Lloyd Bonafide is offline
 
Join Date: Jan 2006
Location: Poway / San Diego
State: California
Professional Status: Certified Residential Appraiser
Posts: 4,785
Default

If the State wants your file, just send it to them. But don't worry about it for one second.
  #7  
Old 11-07-2009, 12:29 PM
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Mike Kennedy Mike Kennedy is offline
 
Join Date: Sep 2003
Location: Southern Hudson Valley
State: New York
Professional Status: Certified Residential Appraiser
Posts: 27,391
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Any opinions?

Immediately notify your E&O Carrier - let THEM guide you. Recommend no further PUBLIC DISCUSSION. The Internet has "eyes".
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  #8  
Old 11-07-2009, 12:52 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,216
Default

Quote:
Originally Posted by Caitlyn Stuart View Post
...

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?


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.
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  #9  
Old 11-07-2009, 01:05 PM
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Carnivore Carnivore is offline
 
Join Date: Jan 2002
Location: Queen City
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 12,537
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Quote:
Originally Posted by leelansford View Post
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.
Absolutley, a sure sign of trouble ahead!

Good advice to always keep in the back of our minds this day forward.
  #10  
Old 11-07-2009, 01:05 PM
NORTON NORTON is offline
 
Join Date: Oct 2007
State: California
Professional Status: Certified Residential Appraiser
Posts: 1,904
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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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