From Idaho Board disciplinary action files

[StephHigdem]

I-REA-2008-70 C alleges the R used four (4) refinanced properties rather than sales, plus two (2) properties 100+ miles away from the subject. Numerous other USPAP violations were noted in the C's Review. INV reveal that the R used three refinances and one construction loan appraisal report as comparable sales in an appraisal report along with two sales of properties over 100 miles away. The C completed a review and used 4 properties that were not available to R. Although the R used a different technique, the same opinion of value was reached as the C's review. INV did not reveal evidence to support the allegation or a violation. IBOL recommends the Board authorize closure.


So if I'm reading this correctly, it's OK to use refi's & construction loan properties as comparable "sales" as long as the final number is OK?!!! It's simply a "different technique"!!??? Did I miss that part of class?

 

[Pamela Crowley (Florida)]

That is just crazy! Any real appraisers involved in this Board Action?????

 

[panappr]

I-REA-2008-70 C alleges the R used four (4) refinanced properties rather than sales, plus two (2) properties 100+ miles away from the subject. Numerous other USPAP violations were noted in the C's Review. INV reveal that the R used three refinances and one construction loan appraisal report as comparable sales in an appraisal report along with two sales of properties over 100 miles away. The C completed a review and used 4 properties that were not available to R. Although the R used a different technique, the same opinion of value was reached as the C's review. INV did not reveal evidence to support the allegation or a violation. IBOL recommends the Board authorize closure.


So if I'm reading this correctly, it's OK to use refi's & construction loan properties as comparable "sales" as long as the final number is OK?!!! It's simply a "different technique"!!??? Did I miss that part of class?

Only in Idaho.... This technique has a name????

 

[Craig in Oregon]

SpudthinK?

Mr and Mrs. Potato Head?

 

[Andy Taylor]

Numerous other USPAP violations were noted in the C's Review. INV did not reveal evidence to support the allegation or a violation.

Did the board not consider USPAP violations to be a IBOL violation? Good thing R does not work up in Ray Millers neck of the woods or R would have been taken out back and summarily shot.

 

[stefan olafson]

This is a good example of selective enforcement. As I've stated for as long as I've been on this forum, if they want to get you they will! As with myself and with Ray, we presented a large target for the regulators to shoot at and they decided, for reasons not known to anyone, to take aim and attempt to destroy our lives.

What took place at the board meeting in Idaho takes place around the country on a daily basis. It's just not well publicized.

What is USPAP and what is compliance? We all have an understanding of USPAP, the how and what goes into an appraisal, it's the compliance part that is very confusing. What experts opinion of USPAP are the boards using? In my case I have been reviewed well over 150 times since 1995 and have been within the realm of compliance and been outside the lines. It has all depended on who is making the decisions. The state of North Dakota will not provide a definition of compliance, they prefer to use the mechanism of compliance to keep appraisers from moving forward in their careers.

 

[Crunch Hardtack]

10-4 on that one.

This is a good example of selective enforcement. As I've stated for as long as I've been on this forum, if they want to get you they will! As with myself and with Ray, we presented a large target for the regulators to shoot at and they decided, for reasons not known to anyone, to take aim and attempt to destroy our lives.

You are soooooo right Stefan. We have skippys in our area whose families are well connected politically and, odds are, will never have to worry about losing a license, but **** in the wrong guy's corn flakes and the state will be on you like white on rice. You can be an otherwise good and honest appraiser, make a few technical errors and wind up getting your license yanked or be ruined financially trying to save it. Not fair; and I know life isn't fair, but it is getting to the point that many of us do not want to wait for the knock on the door by an overzealous investigator just looking to bust someone's stones.