Can I be employed by a credit union to do , among other things, appraisals?

[eric cogswell]

Hello All... Would this be a conflict of interest .. No bonus or commisions would be payed to meself. I know Banks have staff appraisers, but are credit unions under different guidelines? Thank to all

 

[eric cogswell]

may be....may be not???

 

[Workbox]

Other than that, what else are you getting?

 

[eric cogswell]

Would be on Salary

 

[BRCJR]

Hello All... Would this be a conflict of interest .. No bonus or commisions would be payed to meself. I know Banks have staff appraisers, but are credit unions under different guidelines? Thank to all

As long as you disclose you are an employee you are OK.

Secondary market may look harder at your appraisals because of the fact you are an employee of the CU.

There is nothing illegal about the relationship.

 

[Bama Bayou]

Most credit unions want their appraisals FNMA compliant even if they don't sell the paper. They just want to be able to in case they need to raise capital.

 

[Mike Garrett RAA]

Go for it!

 

[Thomas Fiehler]

Bill-Why would one need to disclose that they are an employee of the credit union? Seems like most appraisers forget what it was like 25+ years ago when most appraisers worked as an employee for a bank or s & l.

 

[eric cogswell]

Thanks to all

 

[Jim Buckner]

I have been in this game over 30 years and I do not believe there was ever a time when MOST of the the appraisers were employees of a bank or s&l. Disclosure is absolutely necessary as the lender, your employer, is integral to transaction.