NC Appraisal Board Appraiser Report Feb 2024

[Carnivore]

Winter 2024 Appraiser Report Disciplinary Actions you should read. My Personal Opinion is that some of them should have been REVOKED. iT IS Absolutely UNFAIR to all the Appraisers who are Ethical.

Tell me what you think! Then think about the Clown Acts Appraisers that are in your state.

https://www.ncappraisalboard.org/bulletins/Winter2024.pdf

 

[Bob Ipock]

These are the ones not yet published. https://ncappraisalboard.org/disciplinary/Disciplinary Action Summary.pdf

 

[John Hassler]

I scanned through the cases. Having been a regulator, these were mostly bread and butter type cases and by that I mean just general out in the open competency errors, failed logic, and poor decision making issues. Rather sad given most of these errors were avoidable.

 

[Carnivore]

I agree with you John. Process errors , those can be fixed.

Again: My Personal Opinion is that some of them should have been REVOKED. iT IS Absolutely UNFAIR to all the Appraisers who are Ethical.

 

[Mejappz]

Many of the cases I've read so far emphasize competency issues. TAF shares some responsibility since they established the QE courses based on user demand. So why are state boards not aligning with what users want? Additionally, I'm sure most of these cases have been reviewed by the AMC or lenders. They seemed to have passed without issue, so where is the accountability for the AMCs?

 

[John Hassler]

Many of the cases I've read so far emphasize competency issues. TAF shares some responsibility since they established the QE courses based on user demand. So why are state boards not aligning with what users want? Additionally, I'm sure most of these cases have been reviewed by the AMC or lenders. They seemed to have passed without issue, so where is the accountability for the AMCs?

The issue, as I see it, is that there is high demand from lenders and AMCs, at least on the conforming residential side, for low cost appraisals from low competency appraisers. The problem is once you take one licensee down the lender/AMCs just find another to take their place. Until lenders are taken to task for the appraisers/AMCs they engage it’s just a game of whack-a-mole.

I can’t tell you how many times an appraiser under investigation would tell me ‘but the AMC had no issue with the report’, as if AMCs were arbiters of competency in any way, shape, or form. I do recall a case where the report was so bad the appraiser lost their license and the AMC was fined for not vetting the report for even minimally complying with USPAP (which they are required to do in my state).

 

[Mejappz]

The issue, as I see it, is that there is high demand from lenders and AMCs, at least on the conforming residential side, for low cost appraisals from low competency appraisers. The problem is once you take one licensee down the lender/AMCs just find another to take their place. Until lenders are taken to task for the appraisers/AMCs they engage it’s just a game of whack-a-mole.

I can’t tell you how many times an appraiser under investigation would tell me ‘but the AMC had no issue with the report’, as if AMCs were arbiters of competency in any way, shape, or form. I do recall a case where the report was so bad the appraiser lost their license and the AMC was fined for not vetting the report for even minimally complying with USPAP (which they are required to do in my state).

I agree with your points regarding the role of AMCs. Of course, they prioritize low-cost appraisals over competency. The pressure from lenders for cheaper services can lead to a cycle where low-quality appraisers are continually cycled in and out without accountability.

Remember AMCs market themselves on their ability to select qualified appraisers, yet nine out of 10 times that is not the case.

The lack of accountability for AMCs when they fail to review reports properly is a major issue. Until AMCs face more scrutiny for the appraisers they choose to work with, it seems like we’ll keep seeing this cycle continue. It does feel like a game of whack-a-mole. Of course, USPAP with all its ambiguity worsens the problem.

 

[Mejappz]

The appraiser is undeniably meeting the user's needs, as confirmed by the ongoing use of their services by lenders and AMCs. If AMCs and lenders are not held to the same standards as appraisers, this situation is unquestionably a miscarriage of justice. Regardless of the two-tier justice system, some on the forum favor.

 

[George Hatch]

Enough with the horsesht. Nobody here favors the lack of enforcement on lender conduct.

 

[Overimprovement]

The national real estate money train must keep rolling. Bailouts to banks and wrist slaps to ethics offenses only reinforce the bad behavior. Folks, the judge and police chief are the drug dealer's family. All we can do is maintain our own ethics and standards.