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Failure To Comply With The Appraisal Independence Standards -what To Do

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Meandering

Thread Starter
Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
The Interagency Appraisal Complaint Form available at the link below can be used by an appraiser, other individual, financial institution, or other entities to file a formal, written complaint about an appraisal-related issue, including a failure to comply with the appraisal independence standards or the Uniform Standards of Professional Appraisal Practice or USPAP.

The FDIC will use the information provided in the Interagency Appraisal Complaint Form to take further action on the complaint to the extent it relates to an issue within its jurisdiction.

https://www.FDIC.gov/consumers/assistance/protection/mortgages/appraisals/index.html

Within the Truth in Lending Act, appraisal independence is section

Regulatory administrative enforcement actions also are not subject to the one-year statute of limitations. Actions brought under section 129, 129B, or 129C and actions brought by a State attorney general to enforce a violation of section 129, 129B, 129C, 129D, 129E, 129F, 129G, or 129H, may be brought not later than 3 years after the date on which the violation occurs.


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