Interagency Appraisal And Evaluation Guidelines (iaeg)

[RSW]

It is illegal for anyone in TN to do a BPO and change for it. They are only allowed for attempting to get a listing.

 

[Raven59]

Same here on the BPO. Problem is the argument for the bill to change is that our current law conflicts with the Feds. If the law changes as proposed, there will be no state regulation for BPOs or Evaluations. Hopefully this will get worked out.

 

[Elliott]

Let's say your a financial institution and you have a bunch of loans that go sour, causes you to have negative net worth. So you point to your 25 AVMs that were quasi-responsible for losing $10,000,000 of the GSE's capital. Does anyone think a upstart US District Attorney General isn't going to 'mueller' the practices of the institution with an investigation, warrants, subpoenas, and criminal prosecutions? How soon so many forgot Harp fraud, crime, and prosecutions.

 

[djd09]

the FDIC will swoop in and save us from the banksters aka Operation "Happy".

Or maybe they can "ChokePoint" everything they do not like including appraisers.

 

[DWiley]

It is illegal for anyone in TN to do a BPO and change for it. They are only allowed for attempting to get a listing.

From the TAR web site:



Payment can be made, but must be through the broker.

 

[Meandering]

From the TAR web site:

View attachment 39054

Payment can be made, but must be through the broker.

That is true,
but

BPOs for "valuation" are not "sales activities".

It is the "sales activities" that are exempt from the Fair Labor Standards Act.

So even if the broker pays the agent, it is a non-exempt job, subject to the FLSA.

But I'm not a lawyer.

You too can look it up.

.

 

[Raven59]

From the TAR web site:

View attachment 39054

Payment can be made, but must be through the broker.

Thank you. I agree. Please come talk to our Real Estate Commission. They do not believe the BPO is a real estate service they can regulate.

 

[Bob Ipock]

https://www.occ.gov/news-issuances/bulletins/2018/bulletin-2018-39a.pdf