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First Domino Has Fallen

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Alan Gertner said:
You'll need to ask TALCB, FHA, AS and GSE for their responses. If you want their contact info, let me know and I'll be glad to provide it.

With that being said, the TALCB Investigator consulted with the HUD Handbook author during the complaint investigation. This was not disclosed in the initial TALCB complaint ruling report. This was raised as a USPAP violation by the complaint submittor (see 03 attached doc). TALCB acknowledged they had violated USPAP and had to revise their initial report to address this USPAP violation (there are other investigation issues which were not addressed).

Some of the HUD staff have already been notified of the TALCB ruling, including the HUD Handbook author.

After the TALCB ruling the HUD response does not matter. TALCB has ruled the Appraiser can dismiss the excessive Handbook SOW requirements.

The Appraisal Subcommittee has also been requested to review the TALCB actions and affirm the TALCB ruling.

All the appraisal regulatory agencies have been requested to review and affirm the TALCB ruling.

There are no surprises, all the relevant parties were contacted and given an opportunity to respond.
Click to expand...

Humm.

I'm thinking there will be surprises, and I'm thinking those surprises will be coming if the GSEs start to report inconsistencies in your state.

I think that may be the case, because, while TALCB may have presented their ruling to the AS, the AS is not ruled by TALCB, and that goes ditto for HUD.

This being an election year with a change of Heads and Chairs of the agtencies effected, an "official" response to Texas might be slower in coming.

With that said,

I'm happy to sit with my popcorn and watch what will happen six months to a year from now.

:popcorn:

.
 
Alan Gertner said:
You'll need to ask TALCB, FHA, AS and GSE for their responses. If you want their contact info, let me know and I'll be glad to provide it.

With that being said, the TALCB Investigator consulted with the HUD Handbook author during the complaint investigation. This was not disclosed in the initial TALCB complaint ruling report. This was raised as a USPAP violation by the complaint submittor (see 03 attached doc). TALCB acknowledged they had violated USPAP and had to revise their initial report to address this USPAP violation (there are other investigation issues which were not addressed).

Some of the HUD staff have already been notified of the TALCB ruling, including the HUD Handbook author.

After the TALCB ruling the HUD response does not matter. TALCB has ruled the Appraiser can dismiss the excessive Handbook SOW requirements.

The Appraisal Subcommittee has also been requested to review the TALCB actions and affirm the TALCB ruling.

All the appraisal regulatory agencies have been requested to review and affirm the TALCB ruling.

There are no surprises, all the relevant parties were contacted and given an opportunity to respond.
Click to expand...

Humm.

I'm thinking there will be surprises, and I'm thinking those surprises will be coming if the GSEs start to report inconsistencies in your state.

I think that may be the case, because, while TALCB may have presented their ruling to the AS, the AS is not ruled by TALCB, and that goes ditto for HUD.

This being an election year with a change of Heads and Chairs of the agencies effected, an "official" response to Texas might be slower in coming.

With that said,

I'm happy to sit with my popcorn and watch what will happen six months to a year from now.

:popcorn:

.
 
This is the canned response from the Appraisal Subcommittee staff when contacted about state regulatory agency issues:

Thank you for your email. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended (Title XI), authorizes the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) to oversee State appraiser regulatory programs (Programs) to determine whether they comply with Title XI. However, Title XI does not authorize the ASC to act in the capacity of a court of appeals for actions taken by States. Nor does it authorize the ASC to provide appraisal or case reviews for individuals.

We will include your correspondence for consideration during our next Compliance Review of STATES's real estate appraiser program for the purpose of evaluating compliance by the State with Title XI in the investigative and enforcement process.

In a follow up message the ASC Staff stated:

Yes, currently TALCB is on a 2 year compliance review cycle. Yes, the last TALCB compliance review was in Feb 2016 and the next TALCB compliance review is scheduled for 2018. We are constantly working with our states between reviews on maintaining compliance with Title XI.

The TALCB issues have been reported to the ASC Staff.

The ASC Staff were asked if they have a response.

The ASC Staff have not provided any significant response or taken any noticeable action.
 
Alan Gertner said:
This is the canned response from the Appraisal Subcommittee staff when contacted about state regulatory agency issues:

Thank you for your email. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended (Title XI), authorizes the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) to oversee State appraiser regulatory programs (Programs) to determine whether they comply with Title XI. However, Title XI does not authorize the ASC to act in the capacity of a court of appeals for actions taken by States. Nor does it authorize the ASC to provide appraisal or case reviews for individuals.

We will include your correspondence for consideration during our next Compliance Review of STATES's real estate appraiser program for the purpose of evaluating compliance by the State with Title XI in the investigative and enforcement process.

In a follow up message the ASC Staff stated:

Yes, currently TALCB is on a 2 year compliance review cycle. Yes, the last TALCB compliance review was in Feb 2016 and the next TALCB compliance review is scheduled for 2018. We are constantly working with our states between reviews on maintaining compliance with Title XI.

The TALCB issues have been reported to the ASC Staff.

The ASC Staff were asked if they have a response.

The ASC Staff have not provided any significant response or taken any noticeable action.
Click to expand...


I believe Res/Guy had the answer; A "Home Inspection" should be provided to the appraiser prior to the "Observation/Inspection" process to meet compliance with Individual State Law, regarding the Definition of "Inspection" & "License Law" requirements per State. the Majority of Appraiser's, Licensed or Certified are Not Licensed Home Inspectors.

HK; (with all do respect) entrapment is not the answer, those who need to earn by FHA work should have the ability to provide the work, without a noose around their neck. The "TALCB is on a 2 year compliance review cycle"; so during the initial re-write no one actually thought these issue's were a problem ??

These items of interest Do Not appeal to New Candidates who want to Enter this so-called profession, it is an uneven playing field and the Risk far exceeds the income for a start up player.
 
The Appraiser admitted they did not have the expertise to perform the Client's identified Scope of Work requirements and performed the assignment anyway.

BS...that is wrong. From what I read in the PDF docs, all this appraiser did was state they are not a contractor or engineer (which is true). They made and EA about systems they could not/did not inspect, which was stupid imo and one of those CYA statements some mentors or even classroom instructor recommends, but it is not the same as stating they were incompetent for the job, or that they did not do the inspections required for FHA ( they did). All the board did was dismiss this idiotic complaint, which is not the same as telling appraisers they need not do the required appliance/system inspections.

Personally, I agree with Res Guy, FHA should require a home inspection by a qualified inspector. But they don't, and things are what they are.
 
Home Inspectors may fear expansion of their liability from reliance by others. Of course it would be great for us to have the benefit of a decent home inspection report, however, our clients are not the same parties, so that may be unlikely.

I once casually asked a home inspector during my inspection 'How's it going-- anything interesting?' and the guy blew up, saying I was not going to be able to use his report to do mine. It was all out of proportion and made me laugh thinking here is someone worse at interpersonal relations than an appraiser, but I came away with the message that they are warned about use of their reports by others and fear some sort of cascading liability. Maybe someone here who does both or used to do both inspections could say.
 
...............
 
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