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Dodd-frank

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BRCJR

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Per Appraisal Today, American Society of Appraisers indicates that D-F mandated "every" bank related appraisal be reviewed under USPAP STD 3 Rules.

Does anyone know where that verbiage (or similar comments indicating such) could be found to support that statement?

I am looking for the "every" part.....
 

A K

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That is interesting because Tres was saying about a month ago that one of his community bank clients were told by their regulator that they need to be doing standard 3 reviews on every appraisal.
 

A K

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Can you post the article?
 

BRCJR

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That is interesting because Tres was saying about a month ago that one of his community bank clients were told by their regulator that they need to be doing standard 3 reviews on every appraisal.
I have never been told that by a regulator. Does not mean it isn't required, just never told so in ten years.
It is possible that community bank is under a letter (term used that regulators are basically running the bank until it returns to a safe and sound position) and for that reason it is required.
 

BRCJR

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Can you post the article?

American Society of Appraisers
Appraisal Review and Advanced Course 201


State Certified Real Estate Appraisers begin your path to earning both an ASA Real Property Designation and simultaneously obtain an Appraisal Review Specialty Designation.

Proprietary Knowledge is a Powerful Appraisal Tool!
27 Hours of State Approved CEs

ASA is opening the door to professional Review Designation status for state certified residential and state certified general real estate appraisers. You can take this first of two courses (AR201 and AR204) and earn an ARM Review specialty Designation in real property while being given a fast and easy path to an ASA real property designation. All ASA designated members currently can take AR201 and AR204 and obtain a second specialized Designation in their discipline. This path is now open. Every real property appraiser should be aware that Dodd Frank mandated that every bank related appraisal be reviewed under USPAP Standard 3 Rules.

Consider this question: Are you aware of the potential liabilities the appraiser exposes his/herself to in doing an appraisal review? Increased litigation, new legislation, pressure from regulators has created a large demand for "qualified" appraisal reviewers in all specialties. This course provides the necessary training, education and experience on how to conduct effective objective appraisal review. ASA Accredited Senior Appraisers can take this first of two courses (AR201 and AR204) and earn an ARM specialty Review Designation in their own discipline. Upcoming classes include:

AR201 - Appraisal Review and Management Overview, 1/18-21/18, Las Vegas, NV

AR204 - Appraisal Review and Management Application, 4/12-15/18, Chicago, IL

AR201 - Appraisal Review and Management Overview, 5/31-6/3/18, Herndon, VA
 
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A K

Elite Member
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Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
I have never been told that by a regulator. Does not mean it isn't required, just never told so in ten years.
It is possible that community bank is under a letter (term used that regulators are basically running the bank until it returns to a safe and sound position) and for that reason it is required.

I thought something similar as well. I basically thought that the regulator was saying that the bank was doing a poor job with appraisal engagement and was done ordering their own appraisals.
 

Zero

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Sounds like a way to sell review courses...panic
 

Meandering

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Feb 26, 2006
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Real Estate Agent or Broker
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Pennsylvania
Per Appraisal Today, American Society of Appraisers indicates that D-F mandated "every" bank related appraisal be reviewed under USPAP STD 3 Rules.

Does anyone know where that verbiage (or similar comments indicating such) could be found to support that statement?

I am looking for the "every" part.....

idiots who only selectively read.

Dodd Frank section 1124

upload_2017-6-2_13-51-13.png

The FIRREA UPDATE MENTIONED ABOVE:

upload_2017-6-2_13-55-22.png

http://uscode.house.gov/view.xhtml?req=(title:12 section:3339 edition:prelim)


I swear I don't know how so many people survive in life so long, without being able to read and comprehend a few paragraphs.

.
 

BRCJR

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OSU Beavers

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Oregon
I hardly get any review orders these days. Most of my own reports are "reviewed" by idiots using a checklist who send nonsense stips. I guess that is their version of compliance.
 
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