North Carolina Appraiser Background Check Law Passes

[Adios]

And legislatures and state boards should cater too, care or be concerned about the specifics of what some Lenders or AMCs want...........because?

But the State agency has no authority over the lender. The lender sets their policy and the AMC must abide by it.

 

[Meandering]

The state protects its citizens, and the value of its real estate.

Re-read the AMC Final Rule

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[JTip]

Looks like background checks are able to be transferred from one client to the next, unlike appraisals. I think Walmart offers one for $9.99.

 

[gregb]

But the State agency has no authority over the lender. The lender sets their policy and the AMC must abide by it.

Sorry, another piece of misinformation. Of course States have regular authority over every lender doing business in the state. The lender sets their policy and the AMC tends to set their own policy convenient to the AMC. JT, you have been away from the appraiser business for how many years....10, 15, 20 or?

 

[Adios]

Looks like background checks are able to be transferred from one client to the next, unlike appraisals. I think Walmart offers one for $9.99.

Well it doesn't say that. And I don't they can't be shared without proper disclosures. That state law would be in direct conflict with FCRA laws. That is one of the many reasons it doesn't make sense.

 

[Evincere]

But the State agency has no authority over the lender. The lender sets their policy and the AMC must abide by it.

Well isn't that something. Guess what. The Lender has no authority of the State Agency or the Legislature. Looks like a Mexican stand off to me. lol

 

[Meandering]

Re-read the AMC Final Rule

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[Adios]

Sorry, another piece of misinformation. Of course States have regularthority over every lender doing business in the state. The lender sets their policy and the AMC tends to set their own policy convenient to the AMC. JT, you have been away from the appraiser business for how many years....10, 15, 20 or?

I am very close to the business of vendor management and compliance. I see SLAs and engagements every day. The State appraisal agency has no authority over the lender. This was an AMC law, not a bank regulation.

 

[Evincere]

Looks like background checks are able to be transferred from one client to the next, unlike appraisals. I think Walmart offers one for $9.99.

A BC is like / akin to a DL. There is no need for them to be transferable to anyone. You have one BC which you provide when necessary to who ever you choose to do business.

 

[Meandering]

Well apparently you missed some compliance regulations your clients need to follow.

Nanner, nanner, booby.

Sounds like you need an emergency power meeting.


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