North Carolina Appraiser Background Check Law Passes

[Meandering]

Besides,

The law is that the states do Bkgrnd checks.

No one else,

As we have been telling you for the past 5 years.

We are not employees.

.

 

[Adios]

Besides,

The law is that the states do Bkgrnd checks.

No one else,

As we have been telling you for the past 5 years.

We are not employees.

.[/QUOTE

Marion, no law can stop someone from doing their own due diligence. If Big Bank requires a certain flavor of background check and they require their AMCs to run one. Some of those AMCs order and pay. They own it. You cannot make them share it. That would be violating FCRA laws.

Banks have their own regs to follow and write their own policy.

 

[Evincere]

Well it doesn't say that. And I don't they can't be shared without proper disclosures. That state law would be in direct conflict with FCRA laws. That is one of the many reasons it doesn't make sense.

What are you talking about. Shared without proper disclosure.

Its OK for an Appraiser to provide or "share" or make available upon their approval a CB BC with all, any clients who require them but NOT ok for an appraiser who has a BC done by the State to share, utilize, authorize or disclose what is in their BC to an AMC of his/her choice - upon request and consent?

 

[Adios]

What are you talking about. Shared without proper disclosure.

Its OK for an Appraiser to provide or "share" or make available upon their approval a CB BC with all, any clients who require them but NOT ok for an appraiser who has a BC done by the State to share, utilize, authorize or disclose what is in their BC to an AMC of his/her choice - upon request and consent?[/QUOTEi

If you order it you own it. If you give permission to the AMC to run one the AMC owns it.

 

[Adios]

Besides,

The law is that the states do Bkgrnd checks.

No one else,

As we have been telling you for the past 5 years.

We are not employees.

.

Marion, you cannot prevent a lender or AMC from running a background check.

 

[Evincere]

Heretofore, the Lenders had no guidance, format or precedent from any of the States or legislatures. So naturally, and it stands to reason they made their due diligence rules regarding BCs without any guidance from states or legislatures.

This bill is law and changes all that...me thinks going forward the Lenders will acquiesce because it just makes life easier for everyone. They will be meeting the compliance guidelines being issued by the states and legislatures - aka law of the land.

 

[Meandering]

Get the Commissioner on the phone.

Who do we have in NC?

How did this get passed you guys?



The AMC bat line will be buzzing tonight.


.

 

[Meandering]

Marion, you cannot prevent a lender or AMC from running a background check.

Sure I can.

I say NO!

End of story.

.

 

[Adios]

Heretofore, the Lenders had no guidance, format or precedent from any of the States or legislatures. So naturally, and it stands to reason they made their due diligence rules regarding BCs without any guidance from states or legislatures.

This bill is law and changes all that...me thinks going forward the Lenders will acquiesce because it just makes life easier for everyone. They will be meeting the compliance guidelines being issued by the states and legislatures - aka law of the land.

I am not lawyer but I don't think a state law trumps a federal law.

I designed CBX entirely so an appraiser could order one and share it! Hey I get it. But do I think they need a law stating that? No. I know you won't believe me but even if the law said it must be a Clearbox background check I wouldn't like it.

 

[Evincere]

Well, then, Whats the big deal? If that's the case I would gladly pay for one BC conducted by my state - that I could use with any client I choose to do business with. To anyone else but you, this issue is so inconsequential. There aren't really that many AMCs willing to pay for an Appraisers BC. Besides, I wouldn't trust any AMC to run a BC.