New 1004

[djd09]

i wonder if they will keep cert 23...

 

[djd09]

Penalties​

Show penalties from
Show penalties from
Year
-Year20142015201620172018201920202021202220232024

07/26/2024$7,452,501

State Street settles for $7.5M penalty with OFAC​

Penalty type :
Other Penalties
Issued by :
OFAC
07/19/2024$44,000,000

Green Dot fined $44M for UDAP violations and deficient compliance program​

Penalty type :
UDAP/UDAAP
Issued by :
FRB
07/18/2024$4,800

North Shore Bank of Commerce pays $4,800 for flood insurance violations​

Penalty type :
Flood Civil Money Penalties
Issued by :
FRB
07/09/2024$20 milion plus consumer redress

Fifth Third to pay $20M plus redress for illegal activities​

Penalty type :
UDAP/UDAAP
Issued by :
CFPB
07/01/2024$447,125

Oriental Bank pays $447,125 for flood insurance violations​

Penalty type :
Flood Civil Money Penalties
Issued by :
FDIC
05/15/2024$1,500

Spring Valley Bank pays $1,500 for flood insurance rules violations​

Penalty type :
Flood Civil Money Penalties
Issued by :
FDIC
05/07/2024$3.25 million plus $1.3 million in consumer redress

Chime Financial to pay $4.55M for untimely refunds​

Penalty type :
UDAP/UDAAP
Issued by :
CFPB
04/04/2024$13,000

CNB Bank pays $13,000 for flood insurance rules violations​

Penalty type :
Flood Civil Money Penalties
Issued by :
FDIC
03/28/2024$6,097.72

Utah bank fined for failure to pay FDIC assessment​

Penalty type :
Other Penalties
Issued by :
FDIC
03/26/2024$500,000

Washington bank pays $500K for UDAP and RESPA violations​

Issued by :
FDIC

Pages​

Penalties | Bankers Online

www.bankersonline.com

yeah sure let them estimate value...

 

[djd09]

the mortgage brokers better not get caught 'dorking' the value...just to make a pay check

 

[djd09]

"The article "10 Ways to Kill the Appraisal Industry" was misnamed. It
should have been named "10 Ways to Kill the Appraisal Management
Company Industry". Except for the complaint about appraisers not returning phone calls (which most people will agree is unprofessional), all of the complaints on that list had nothing to do with the survival of
professional appraisers and the appraisal industry. That list is made up of
issues that are near and dear only to the AMCs. I even doubt that a
lender wrote that article. I think it was an AMC; but we'll never know
because the author didn't have the hair to name themself.

Come to think of it, the name of your newsletter, "Appraisal Buzz", is
also a misnomer. You should call it "AVM/AMC Buzz" because that's what
most of your articles are about. The typical appraiser is not interested in
working for fee splits and a 6" electronic leash. If we were, we'd be
working for appraisers in a fee shop that actually contributes to our
efforts, not computer geeks and deal makers who are inserting themselves into our business while contributing nothing."

Our George Hatch has a letter 'published'

This was in a recent email issue of the buzz: The Buzz that received the most response this year was by far the anonymous contribution, "10 Way to Kill the Appraisal Industry". There were hundreds of responses. Here is one to follow: "The article "10 Ways to Kill the Appraisal Industry"...

appraisersforum.com

the times sure have changed...

 

[djd09]

Category:​

Premium Content, Real Estate Appraiser Independence, Real Estate Appraisers
A move is underfoot to change the appraisal regulatory system. The first shot across the bow was fired by the Georgia Board, which is calling for the elimination of the Appraisal Subcommittee (ASC), among other things, and a shift from federal control to the states. Two respected appraisers, Frank Gregoire and George Hatch, take a look at what’s at stake for appraisers.

George Hatch - This is nothing more than a states rights-federal rights conflict.

Frank Gregoire - This is the precise reason the resolution is important to many others besides appraisers.

GH -The creation of the Appraisal Subcommittee (ASC) by Congress was a direct response to the S&L bailout of the 1980s. The federal government and the American Taxpayers were forced to protect the assets of depositors of failing lending institutions. The former model of market-driven appraisal regulation, which relied solely on client preferences, was proven to be a spectacular failure.

FG – Long-time appraisal practitioners are aware the appraisal profession was the scapegoat for the excesses of the federally regulated savings and loan and commercial banking industries during the 1980s. Although there is evidence of complicity by appraisers, the primary culprits in the collapse were the financial institutions. My source is the 48-page report by the Committee on Government Operations, September 25, 1986.

https://www.workingre.com/states-rights-purse-strings-ASC/

where is Frank...nothing to say about the new forms

 

[Dublin ohio]

Forms anxiety. SMH

 

[George Hatch]

"The article "10 Ways to Kill the Appraisal Industry" was misnamed. It
should have been named "10 Ways to Kill the Appraisal Management
Company Industry". Except for the complaint about appraisers not returning phone calls (which most people will agree is unprofessional), all of the complaints on that list had nothing to do with the survival of
professional appraisers and the appraisal industry. That list is made up of
issues that are near and dear only to the AMCs. I even doubt that a
lender wrote that article. I think it was an AMC; but we'll never know
because the author didn't have the hair to name themself.

Come to think of it, the name of your newsletter, "Appraisal Buzz", is
also a misnomer. You should call it "AVM/AMC Buzz" because that's what
most of your articles are about. The typical appraiser is not interested in
working for fee splits and a 6" electronic leash. If we were, we'd be
working for appraisers in a fee shop that actually contributes to our
efforts, not computer geeks and deal makers who are inserting themselves into our business while contributing nothing."

Our George Hatch has a letter 'published'

This was in a recent email issue of the buzz: The Buzz that received the most response this year was by far the anonymous contribution, "10 Way to Kill the Appraisal Industry". There were hundreds of responses. Here is one to follow: "The article "10 Ways to Kill the Appraisal Industry"...

appraisersforum.com

the times sure have changed...

I don't see how. I haven't changed.

 

[djd09]

The former model of market-driven appraisal regulation, which relied solely on client preferences, was proven to be a spectacular failure.

 

[George Hatch]

Forms anxiety. SMH

The reason I keep chipping on the forms is because I think a lot of appraisers work to the forms (SR2 drives the SR1). As opposed to making the forms work for them. Therefore, promulgating better forms has the potential to result in more analyses and/or better analyses.

 

[George Hatch]

You're an idiot with a JGrant level of reading proficiency. Read the passage again in context. The "before" refered to therein was pre-USPAP and pre-licensing when the reviewers were always right strictly as a function of their job title, not because they were actually right. A reference to a lawless environment that prevailed prior to bringing everyone under regulation per a common standard.

I haven't changed. It was wrong 35 years ago for lenders to dictate the meaning of MV and it's still wrong today. That's nowhere on the same planet as a user having additional requirements that they think are meaningful to their usage.