Evaluation Liability

[Meandering]

Just a reminder for the other readers of this thread: The IAEG states what must be included at a minimum to be an evaluation, but you can add to that minimum to meet both IAEG and USPAP.

You can add to minimums all you want.

You can create a self contained evaluation if you like, so long as you are not an appraiser and held to USPAP standards.

But as the bank employee, your state board was not going to sanction you for anything - something about an IRS law that says you don't make any independent decisions without the okay of your employer, so all of that was moot what you "used to do".

Do you read the Federal Register every day to see when things "change"?

But go ahead and believe that the written regulations don't apply to the regulations appraisers have to follow.



I'm sure Rachel Dollar is looking for more articles to fill her news letter.



.

 

[SpartanAG]

You can add to minimums all you want.

You can create a self contained evaluation if you like, so long as you are not an appraiser and held to USPAP standards.

But as the bank employee, your state board was not going to sanction you for anything - something about an IRS law that says you don't make any independent decisions without the okay of your employer, so all of that was moot what you "used to do".

Do you read the Federal Register every day to see when things "change"?

But go ahead and believe that the written regulations don't apply to the regulations appraisers have to follow.



I'm sure Rachel Dollar is looking for more articles to fill her news letter.



.

I'm not really sure how to reply to your incoherent hysterics other than: I understand there is nothing I or anyone can say to change your view on the topic. Like Dennis, I only post with the hope that the readers of this thread will evaluate the information provided and make their own decision regarding the topic.

 

[DWiley]

Isn't USPAP a regulation?


.

No. USPAP is not a regulation. Regulations are created by entities with legal jurisdiction to do so. The USPAP is written by a private, non-profit organization.

USPAP can gain authority by recognition within laws or regulations, but USPAP itself is not law or regulation

 

[DWiley]

Danny, I thought took the same position? Maybe I expressed it poorly because I said it as a negative assertion in response to Dale ( none of what he said in his post exempts an appraiser from USPAP just because it is called an evaluation)

Individual state laws can differ and I can't' claim to know what each is...I did state in one of my posts the exception would be to USPAP compliance would be a state or local law JE, but that is from what I understand of the law as a non attorney. ...

See my previous post. The Tennessee law is unique. It allows options in performing evaluations. Those options do not apply in most states.

The TN law does not create a JE, because there is no conflict between the law and USPAP. USPAP says that appraisers must comply with USPAP when required by law or regulation. Our law simply says that one does not have to follow USPAP in performing an evaluation. So, it is not a JE - rather, USPAP compliance is simply not required.

 

[Terrel L. Shields]

I meant all the analysis was done on a single sheet

Analysis is definitely weak.

 

[Meandering]

No. USPAP is not a regulation. Regulations are created by entities with legal jurisdiction to do so. The USPAP is written by a private, non-profit organization.

USPAP can gain authority by recognition within laws or regulations, but USPAP itself is not law or regulation

Come on Danny,

USPAP created by the Ad Hoc Committee of 9 appraiser organizations, was then adopted by FIRREA, Federal Law, as the REGULATION for how appraisals are to be written for FRTs.

Which still makes USPAP a Federal Regulation, as sanctioned by the federal law.

If you would like a link to the Original and then the updated FIRREA, let me know and I'll post them for you.

 

[Meandering]

See my previous post. The Tennessee law is unique. It allows options in performing evaluations. Those options do not apply in most states.

The TN law does not create a JE, because there is no conflict between the law and USPAP. USPAP says that appraisers must comply with USPAP when required by law or regulation. Our law simply says that one does not have to follow USPAP in performing an evaluation. So, it is not a JE - rather, USPAP compliance is simply not required.

Oh come on Danny,

Can the state write laws that are less than federal banking regulations????


JURISDICTIONAL EXCEPTION: an assignment condition established by applicable law or regulation,
which precludes an appraiser from complying with a part of USPAP.

Nope,
Can't write a law that says you can depart from the entire Federal Regulation.

And yes, USPAP is a Federal Regulation.

See the ASC, which supervises the ASB.


.

 

[TRESinc]

Come on Danny,

USPAP created by the Ad Hoc Committee of 9 appraiser organizations, was then adopted by FIRREA, Federal Law, as the REGULATION for how appraisals are to be written for FRTs.

Which still makes USPAP a Federal Regulation, as sanctioned by the federal law.

If you would like a link to the Original and then the updated FIRREA, let me know and I'll post them for you.

silly appraisers. i guess everyone but marion forgot that the "S" is silent in Uniform Sregulation of Professional Appraisal Standards.

 

[Meandering]

silly appraisers. i guess everyone but marion forgot that the "S" is silent in Uniform Sregulation of Professional Appraisal Standards.

Says the girl with no access to any regulations or laws they quote, yet can't cite.

 

[SpartanAG]

Analysis is definitely weak.

Oh the stories I could tell after seeing how the sausage is made from the inside. But that is a topic for another thread.