New Laws

[Couch Potato]

Significant changes were enacted by the legislature this year, and not just in regard to licensing. The new Mortgage Fraud law that take effect December 1st of 2007 means doing a poor appraisal can not only cost an appraiser their license, but may also result in conviction of a felony.

 

[JRS at OBX]

I know some future felons!!!

 

[Mr Rex]

Tater, you got a link? I missed that one, or didn't read one of Ipocks e-mails completely. Haven't heard from him lately, he must be teaching for Y-2-8.

BTW, will I recognize you tonight on Franklin street as a tater?

 

[Couch Potato]

Here you go: NC Mortgage Fraud Law. It was passed with a unanimous vote this past summer.

 

[Mr Rex]

OK, I didn't miss it. I think I might start blast e-mailing that and page 4 from the last NCAB bulletin to every RE agent and MB in the state.m:

 

[Couch Potato]

Make sure you don't miss the USPAP order form that should arrive soon from the NCAB. 40% off when it's ordered through them, only $30.

 

[Mr Rex]

Got mine yesterday, called and warned a buddy who recently received a complaint letter from the Board not to stroke out when he went to the mailbox and saw NCAB on the return address. If it ever happens to you, its like seeing blue lights in the rear view.

 

[deturner]

I received my order form yesterday and my first thought was: "I haven't done much appraising lately, what the heck do these people want?"

Boy was I relieved to see just an order for USPAP.

DaveT

 

[Couch Potato]

There is a deadline fast approaching for anyone that wants to be a "Licensed" appraiser.

The North Carolina Appraisal Board will no longer issue the Licensed Residential credential after December 31, 2007. Individuals wanting to be licensed must submit a complete application postmarked no later than December 1, 2007. Any applications for licensed residential not completed by December 1, 2007 will be returned and the applicant will not be eligible for the Licensed Residential credential. Appraisal logs for licensed residential applicants must contain a minimum of 240 points and must cover a period of no less than 18 months (from first to last logged appraisal). Applicants who have not already passed the exam will be issued their exam ticket upon verification of their education and must submit a passing examination certificate on or before December 21, 2007

 

[D-Max]

Got mine yesterday, called and warned a buddy who recently received a complaint letter from the Board not to stroke out when he went to the mailbox and saw NCAB on the return address. If it ever happens to you, its like seeing blue lights in the rear view.

When I opened my box my heart stopped. Since over 1/2 of the purchase appraisals I've done lately didn't come in at sales price, I'm almost certain somebody is going to complain to the NCAB.