Be careful who you take advice from

[Bob Ipock]

Idiots.


RE: email sent to NC appraisers by NCPAC regarding a "Value Appeal Process"

This email is to clarify any misunderstanding inadvertently caused by the above referenced email, sent to NC appraisers on October 21, 2013. The NCPAC Officers and members of the NCPAC Board of Directors believe that the following points need clarification.

Neither, Mr. Donald Rodgers, the Executive Director of the Appraisal Board, nor anyone else associated with the North Carolina Appraisal Board, suggested, recommended, or otherwise endorsed the creation or establishment of any sort of new "Value Appeal Process". Please see the attached comments from the NCAB staff regarding this (above referenced) email.
The statement, in the above referenced NCPAC email, that "The appraiser represents the client (the lender)." is not accurate. While it is true that the appraiser is often engaged by the client (the lender), there can be occasions wherein the appraiser is engaged by an agent for the client.
The above referenced email also contains the statement: "However, if there is a controversy based on the value derived, the borrower should contact local realtors that could provide additional comparables to the lender for the appraiser to analyze." NCPAC wishes to make it clear that this statement is not intended as a recommendation that an appraiser violate, or ask anyone else to violate any policy regarding unauthorized distribution of restricted, non-public, MLS information.
Every appraiser, while acting as an appraiser, has ethical and USPAP responsibilities to consider all reasonably available information pertinent to development and reporting of credible appraisals. In this regard, if, during the appraisal development process, a borrower or realtor, or some other third party offers or provides legitimate and relevant information to an appraiser, it is generally acceptable for the appraiser to consider that information. Again, please see the attached comments from the NCAB staff regarding this (above referenced) email.
The core purpose of the North Carolina Professional Appraisers Coalition is, and always has been, serving and protecting the collective interest of all professional appraisers in North Carolina. We believe that this core purpose cannot be achieved without also protecting the interest of North Carolina citizens, by promoting and maintaining a high level of public trust in appraisal practice through compliance with our ethical, professional, and legal responsibilities.

We continue to consider the relative statistics regarding consumer complaints to the North Carolina Appraisal Board to be a serious matter and will continue to work with our members and all other NC appraisers to try to find a way to lessen the number of such complaints. We hereby ask that all members of NCPAC share their views on the NCPAC Appraisers Board regarding this matter at http://ncpac.org/appboard/3/160 (log-in required), or by submitting comments directly to office@ncpac.org. We also respectfully ask those NC appraisers that are not members of NCPAC to submit comments to office@ncpac.org.

Respectfully,

NCPAC Officers and Board Members

 

[Mike Kennedy]

1. "legitimate and relevant" are the lynchpins.

2. how does NCPAC reconcile the statement "during the development process" with the legal prohibition (Dodd-Frank) below:

TITL SEC. 1472. APPRAISAL INDEPENDENCE REQUIREMENTS.
(a) IN GENERAL.—Chapter 2 of the Truth in Lending Act (15
U.S.C. 1631 et seq.) is amended by inserting after section 129D
(as added by section 1461(a)) the following new section:

‘‘§ 129E. Appraisal independence requirements
‘‘(a) IN GENERAL.—It shall be unlawful, in extending credit
or in providing any services for a consumer credit transaction
secured by the principal dwelling of the consumer, to engage in
any act or practice that violates appraisal independence as described
in or pursuant to regulations prescribed under this section.
‘‘(b) APPRAISAL INDEPENDENCE.—For purposes of subsection (a),
acts or practices that violate appraisal independence shall include—
‘‘(1) any appraisal of a property offered as security for
repayment of the consumer credit transaction that is conducted
in connection with such transaction in which a person with
an interest in the underlying transaction compensates, coerces,
extorts, colludes, instructs, induces, bribes, or intimidates a
person, appraisal management company, firm, or other entity
conducting or involved in an appraisal, or attempts, to compensate,
coerce, extort, collude, instruct, induce, bribe, or intimidate
such a person, for the purpose of causing the appraised
value assigned, under the appraisal, to the property to be
based on any factor other than the independent judgment of
the appraiser;
‘‘(2) mischaracterizing, or suborning any mischaracterization of, the appraised value of the property
securing the extension of the credit;
‘‘(3) seeking to influence an appraiser or otherwise to encourage a targeted value in order to facilitate the making
or pricing of the transaction;

‘‘(c) EXCEPTIONS.—The requirements of subsection (b) shall not
be construed as prohibiting a mortgage lender, mortgage broker,
mortgage banker, real estate broker, appraisal management company,
employee of an appraisal management company, consumer,
or any other person with an interest in a real estate transaction
from asking an appraiser to undertake 1 or more of the following:
‘‘(1) Consider additional, appropriate property information,
including the consideration of additional comparable properties
to make or support an appraisal.
‘‘(2) Provide further detail, substantiation, or explanation
for the appraiser’s value conclusion.
‘‘(3) Correct errors in the appraisal report."


D-F provides ample opportunity for the ROV process to request consideration of additional sales which might be considered "comparable" and/or revise or correct mistakes in a delivered report.

 

[JRS at OBX]

The core purpose of the North Carolina Professional Appraisers Coalition is, and always has been, serving and protecting the collective interest of all professional appraisers in North Carolina.

I find the above statement to be a blatant lie.

What was somewhat shocking, and even the REVAA representative had to ask Archibald Williams to repeat himself, was that NCPAC not only opposes the trust account provision, but after Mr. Williams stated that he had been "a mortgage banker for 24 years", he went on to demonize appraisers who had large outstanding balances due from AMCs and that appraisers should be held accountable for not filing complaints against AMCs who violated the 30 day provision in the current AMC law. The president of NCPAC, David Deschamps was also present, but did not comment only to wave support toward Mr. Williams.

This was concerning a possible state bill that would require AMCs to have a trust account.

 

[sputnam]

The core purpose of the North Carolina Professional Appraisers Coalition is, and always has been, serving and protecting the collective interest of all professional appraisers in North Carolina.

Definitely untrue. I think it was true in the early time of NCPAC... but, no more. They demonstrated their lack of concern for the interests of NC appraisers when they agreed not to oppose the rule changes allowing Realtors to perform BPOs for a fee.

 

[Mr Rex]

NCPAC represents me as much as Joan Trice. Both are selling snake oil to benefit a select few.

 

[Bob Ipock]

Quote:
Originally Posted by USPAP Compliant
The core purpose of the North Carolina Professional Appraisers Coalition is, and always has been, serving and protecting the collective interest of all professional appraisers in North Carolina.

Please understand that is NOT my quote above, that quote is from the NCPAC email[/COLOR

 

[JRS at OBX]

Quote:
Originally Posted by USPAP Compliant
The core purpose of the North Carolina Professional Appraisers Coalition is, and always has been, serving and protecting the collective interest of all professional appraisers in North Carolina.

Please understand that is NOT my quote above, that quote is from the NCPAC email[/COLOR

True, sorry if my quoting made it look like it was your statement.

Certain individuals seem to be in control of NCPAC. They aren't voted into any position that I can see, but they still seem to find themselves speaking for the group.

 

[sputnam]

Please understand that is NOT my quote above, that quote is from the NCPAC email[/COLOR

Yes, we know.

 

[SutnNC]

Certain individuals seem to be in control of NCPAC. They aren't voted into any position that I can see, but they still seem to find themselves speaking for the group.

Not directed at you.......

What I've learned about this and other similar organizations is that the very high majority appraisers sit back, do nothing other than watch, complain and bemoan the lack of leadership; those that try to do something/anything are so few that they keep or take on another title within that given group.

And....not directed at Sputnam

Btb, that legislation regarding agent/BPO's was going through no matter what anyone had done or tried to do; a few will try to stem the wound while "those that bemoan" would have only watched as the wound bled out. This BPO move was a CYA for the NCAR and their agents that spent MANY years flying under the radar.

Regarding the letter UC references in the OP.....I wouldn't disagree.

 

[JRS at OBX]

those that try to do something/anything are so few that they keep or take on another title within that given group.

Those with an agenda are always willing to do something/anything.