OFHEO - hands enforcement off to State Boards

[Riick]

OFHEO Press Release -- Washington, DC – 3/3/08
<<< snipped >>>
"In addition, OFHEO will continue its work to combat mortgage
fraud, including its joint efforts with state and federal regulators.
It is imperative that state appraisal licensing bodies be active
in policing appraisal practices at the state level
and that federal agencies share information on a timely basis in
order to assist law enforcement and regulatory efforts to fight
mortgage fraud," Lockhart said. "


-- SO -- The STATE BOARDS –which have done virtually nothing,
and apparently believe that are charged only with policing USPAP(?)
- are being charged with the actual police power.


Note that no funding is supplied to the boards in any of the documents.

 

[Kevin Mc]

oh boy.............m2:

 

[Michael Tipton]

My appraisal license was issued by the State of Florida, not a federal agency. State appraisal boards will continue to regulate licensees.

 

[Brian Weaver]

Policing? I don't think so. The Appraisal Division squad car is out for repair. It would be nice if all these federal agencies could actually cobble together a coherent complaint on the crummy appraisals they seem to be hoarding.

 

[Marcia Langley]

Policing? I don't think so. The Appraisal Division squad car is out for repair. It would be nice if all these federal agencies could actually cobble together a coherent complaint on the crummy appraisals they seem to be hoarding.

Amen, Brian.

 

[Elliott]

I think the frustration many of us have with the state boards is they
choose to become 'consumer affairs' department for disgrunted
HOs who didn't like their value. Either they handstrung themselves
or AF handstrung them so they tried to enforce the manutia of
USPAP rather than go after the 'high' appraisers who eventually
caused the real problems (not that the CDO emploision was actually
caused by appraisers, lots of others to blame before you get to
the appraiser.).

 

[Don Clark]

Enforce what?

Most state regulatory boards are charged with enforcing state appraisal regulations and USPAP, not Fannie Mae, Freddie Mac, VA or FHA requirements. As a matter of fact, they likely cannot do that unless there is a clear violation of state regulations or USPAP. Sorry FED's, if you want to file a complaint then do so. It is not up to the state to enforce your agreement with Cuomo or any one else.

Also, since there are no longer any "Supplemental Standards Rules", there can be no enforcement of a defunk or deleted standard.

 

[Ms. Janet]

Policing? I don't think so. The Appraisal Division squad car is out for repair. It would be nice if all these federal agencies could actually cobble together a coherent complaint on the crummy appraisals they seem to be hoarding.

(I'm laughing so I don't cry...

 

[Lost Cause]

This news is distressing in light of the hints we've been receiving about an upcoming expose on the state appraisal boards.

 

[Pamela Crowley (Florida)]

If the appraiser signed the Fannie/Freddie appraisal forms and did not adhere to the certifications signed, that would be a USPAP violation... MISLEADING.