More On Free Comp Checks

[JSmith43]

RUMOR:

Rumor from a CE teacher is that an appraiser came back from lunch to tell the whole class that a State Investigator walked into the office that morning demanding a workfile for a 'comp check' order they had 'filled' a few days earlier. They didn't have a USPAP compliant workfile for that comp check, apparently the investigator had the evidence (rumor was the investigator is the one that ordered the comp check), the appraiser's license was immediately suspended. THIS IS JUST A RUMOR AT THIS POINT, but was told by the CE teacher as just happening last week.

I don't know what State or any other details.

If the pay is right, I'll take the job of being the investigator lead source by calling appraisers and talking them into providing a "comp check", and be in a hurry, promise them great things in the future if they can get it to me so fast that they don't have time to comply with USPAP.

Would I have to fake not understanding/communicating assignment conditions later when the appraiser's attorney presents the entrapment argument?

This should be interesting. If it doesn't dovetail into a big take down of some impressively evil fraud ring, it risks appearing petty and politically unsupportable, IMO.

I assume the investigator would know a USPAP compliant desktop appraisal and corresponding file when he sees it. After looking at and for typical fannie scope URAR assignments, I have my doubts.

 

[Caligirl]

I overheard this conversation at an MB's office:

MB #1: I can get my appraiser to do this.

MB #2: Make sure you get it on tape.

 

[JSmith43]

I overheard this conversation at an MB's office:

MB #1: I can get my appraiser to do this.

MB #2: Make sure you get it on tape.

Nixon had a good tape system. Too bad his secretary was such a putz and only deleted 18 minutes or so

Jody, did that increase or decrease your desire to work with those MB's?

Of course, I know the answer

 

[Pamela Crowley (Florida)]

From what I understand, there was no workfile at all, but there was an appraisal communicated.

 

[Workbox]

So what about pre-appraisals? What are those?

 

[Steve Owen]

Pam, a year ago last April, the MREAC put on a series of fraud lectures around the state. The star speaker was a convicted felon who did a few years in a federal prison and then started an "it takes a thief" style anti-fraud and fraud prevention business. He was an interesting speaker, told all about how it is done.

Anyway, at some point in his presentation, he mentioned that his company was going to be calling around asking for comp checks as a sting and then letting the state know what appraisers are compliant with the request. He said something like "I hope none of you in this room wind up on my list."

I don't know if he ever actually did it... or if he did, I don't know if the state paid any attention to it. But, that could be where your rumor started. And, the rumor could be true.

 

[Joyce Potts]

What's the deal Mr. Kennedy? If he makes an appraisal, prepares a report and keeps a work file it is the definition of what we do as appraisers. If the client wants another appraisal with a different SoW at a later time, it is simply a new assignment.

You're too quick on accusing others of lacking ethics.

<pssst...you forgot the part about the fee>

 

[Pamela Crowley (Florida)]

It's not entrapment to pose as a "John" to catch a prostitute.

 

[Joyce Potts]

It's not entrapment to pose as a "John" to catch a prostitute.

Don't bet on it.

 

[xm72mhd]

So what about pre-appraisals? What are those?

Maybe they are like a pre-nuptial. I honestly don't know, because I've never heard of a pre-appraisal, but give it a week and it will surely become a revered, if not sacred, part of our vernacular. As soon as the ASB hears it they will make it USPAP compliant....as long as its an appraisal.

"Yo, my best new friend appraiser, I need a free pre-appraisal so I can send you a lot of business."