Dodd-Frank Compliant

[Fernando]

AMC wants me to put this in my report: The Report was ordered through ***AMC** and is Dodd-Frank Compliant.

I admit I haven't read The Book of Dodd-Frank but I think I'd been following it especially no undue influence from client.
It should be fine putting that statement, right?

 

[Tim Hicks (Texas)]

How do you know if it is compliant if you have not read it?

 

[shrubberyvaluation]

AMC wants me to put this in my report: The Report was ordered through ***AMC** and is Dodd-Frank Compliant.

I admit I haven't read The Book of Dodd-Frank but I think I'd been following it especially no undue influence from client.
It should be fine putting that statement, right?

Are you a lawyer?

 

[Tim Hicks (Texas)]

Maybe you can go to Barnes and Noble and get the Cliff Notes of Dodd-Frank or an audio book.

 

[Tim Hicks (Texas)]

AMC wants me to put this in my report: The Report was ordered through ***AMC** and is Dodd-Frank Compliant.

I admit I haven't read The Book of Dodd-Frank but I think I'd been following it especially no undue influence from client.
It should be fine putting that statement, right?

Right now the alarms are going off again at OREA.

 

[ramrcdk]

AMC wants me to put this in my report: The Report was ordered through ***AMC** and is Dodd-Frank Compliant.

I admit I haven't read The Book of Dodd-Frank but I think I'd been following it especially no undue influence from client.
It should be fine putting that statement, right?

Never been ask for that. Seems they be asking' the wrong folks.
I would need to KNOW WHY they seem-to-require that.

Perhaps NOT ALL in one statement.
IF an AMC: Disclose their State License Number. If applicable: Disclose the Fee they were paid.
The Appraiser License Number & the Fee for the Appraisal Service.
Followed by: the Appraisal Report was prepared in compliance with: AIR, .....___ D-F__(? why??)_, and whatever else you want to mention.

 

[Meandering]

You could say that your value conclusion was not influenced by the client, in compliance with Dodd Frank, well, until all the ROVs start rolling in.
Dodd Frank compliance was on the lending side, you can not determine if they "complied" only to the point of if they "influenced" your opinion, but, even if they did influence your opinion, there is no "enforcement" agency assigned to make the determination. Although you could file the complaint with the joint agencies, but their complaint process is only for record keeping purposes, not "enforcement".

Edit to add,

Under Dodd Frank, the client can not influence your reporting either, so, asking you to include a statement of compliance in your report is in fact, a violation of Dodd Frank.

 

[glenn walker]

AMC wants me to put this in my report: The Report was ordered through ***AMC** and is Dodd-Frank Compliant.

I admit I haven't read The Book of Dodd-Frank but I think I'd been following it especially no undue influence from client.
It should be fine putting that statement, right?

Yes but its non-sense as your reports are nor D & F compliant I think the stupid AC that what they really want is a AIR --Appraiser Independence statement or addendum.

 

[sputnam]

All I would do would be to list the AMC in the appropriate space in the report.