Complaints filed against appraiser Has anyone been in front of the board?

[Mejappz]

As I think you know, evaluations have been common in my state for a long time due to the nature of our law. I can say with 100% certainty that lenders in my city have do not use lists for evaluators just as they do for appraisers.

As for formal complaints, you know that answer, because you know that they are not subject to a jurisdictional authority.

Well, then it should be easy to get a copy of that list; As it was to get a copy of Citi's blacklist that made the rounds on this forum about a year ago.

 

[Zoe]

I would be the first to agree that the mentality of some boards - at least shortly after the crash - was to punish first and ask questions later. I think most have done a pretty fair job of stepping back and looking at the unintended consequences of their approach(es). That is to say that it doesn't make sense to dole out punitive measures in situations where there are honest or just sloppy, but otherwise not egregious, mistakes. It makes much more sense to prescribe medicine that helps make the appraiser a better appraiser (remedial training, mentorship, etc.). That said, I absolutely agree with boards who actively try to cull out folks who commit fraud or other intentional acts of unprofessionalism.

Okay, but your looking at surface on appraisers. Your not looking at big picture. I see picture from bottom to top. Problems started at top.
Independent appraisers are at the bottom of the chain. I hate to tell you but I have been president of a bank. I know the chain. I worked literally every job in a bank in a management training program.

 

[Zoe]

I wasn't forced out of banking. They begged me to stay. I just had family issues that made me have to take other avenues and already had my license. I was president and then banks merged and I became first vice president because of merger. That had nothing to do with leaving. It was family issues.

 

[alebrewer]

Okay, but your looking at surface on appraisers. Your not looking at big picture. I see picture from bottom to top. Problems started at top.
Independent appraisers are at the bottom of the chain. I hate to tell you but I have been president of a bank. I know the chain. I worked literally every job in a bank in a management training program.

I don't know why you'd hate to tell me that? There's no shame in being president of a bank. And I don't disagree that appraisers were not the primary cause of the meltdown - my opinion is that the ratings agencies were. But regardless, you don't overlook fraud and intentional acts of unprofessionalism just because appraisers aren't the primary culprits do you?

 

[Terrel L. Shields]

I wonder how many complaints and blacklist there are over Evals?

It's multiple choice

1. Nil
2. Zero
3. Nada
4. 0

 

[Zoe]

I don't know why you'd hate to tell me that? There's no shame in being president of a bank. And I don't disagree that appraisers were not the primary cause of the meltdown - my opinion is that the ratings agencies were. But regardless, you don't overlook fraud and intentional acts of unprofessionalism just because appraisers aren't the primary culprits do you?

Your question is nice. Can you imagine having a background in appraisal? I helped set up the compliance dept in a bank before shifting to the retail side. Think about my answer.

You should be able to answer the question. We just started doing secondary mortgage loans in that bank a few years before I transferred to different banks

 

[Zoe]

I don't know why you'd hate to tell me that? There's no shame in being president of a bank. And I don't disagree that appraisers were not the primary cause of the meltdown - my opinion is that the ratings agencies were. But regardless, you don't overlook fraud and intentional acts of unprofessionalism just because appraisers aren't the primary culprits do you?

Okay, I have a question for you. How did AMC's or GSE's intercept fraud or acts of unprofessionalism?

See, I understand the paper trail and where it goes on HMDA. That's above GSE level or AMC level.

AMC helped none at all on fraud on paper trails on truth in lending disclosures.

And it is way above the pay scale for most appraisal boards.

Appraisal boards don't literally have the authority to even look at a lender and accuse them of anything.

That's the problem Things are so separated in different regulators that some need to go. It needs to be combined from the regulatory standpoint.

 

[Sadie]

Complaint filed from a "Non-Intended User" of course it's about value, board asked for file, now I am under the microscope. hearing next week, any advise, thought?
[/QUOT

 

[Sadie]

Make sure your workfile is in order and include the information you included by reference, how you supported you adjustments, etc. A good workfile may save you. As my old mentor said, "Everyone can get an A in workfile."

 

[Mejappz]

It's multiple choice

1. Nil
2. Zero
3. Nada
4. 0

That's what I thought.