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FDIC, a few years old but good

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USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Excellent source of web links for alphabet soup agencies etc.
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
From FDIC Regs


§ 323.6 Professional association membership; competency.

(a) Membership in appraisal organizations. A state certified appraiser or a state licensed appraiser may not be excluded from consideration for an assignment for a federally related transaction solely by virtue of membership or lack of membership in any particular appraisal organization.
(b) Competency. All staff and fee appraisers performing appraisals in connection with federally related transactions must be state certified or licensed, as appropriate. However, a state certified or licensed appraiser may not be considered competent solely by virtue of being certified or licensed. Any determination of competency shall be based upon the individual's experience and educational background as they relate to the particular appraisal assignment for which he or she is being considered.


Is that not precisely HUD is now doing.....assuming competency based on nothing more than state certification?
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
A great piece of literature.

So where are these examiners? Did they go to work for homeland security? Or are we to believe that little to no fraudulent appraisals are behind huge loan losses?
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
We should show that one line to every appraiser who comes in here and tells us that having a license means that lenders are compelled to accept their work.
 
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