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OFHEO - hands enforcement off to State Boards

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Riick

Thread Starter
Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
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

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
oh boy.............m2:
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
My appraisal license was issued by the State of Florida, not a federal agency. State appraisal boards will continue to regulate licensees.
 

Brian Weaver

Senior Member
Joined
Apr 16, 2005
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Illinois
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

Senior Member
Joined
Aug 26, 2005
Professional Status
Certified Residential Appraiser
State
Missouri
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

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
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

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
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

Elite Member
Gold Supporting Member
Joined
Oct 27, 2004
Professional Status
Certified Residential Appraiser
State
Florida
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.

:rof::rof::rof::rof:


(I'm laughing so I don't cry...
 

Lost Cause

Senior Member
Joined
Sep 17, 2004
Professional Status
Certified General Appraiser
State
New York
This news is distressing in light of the hints we've been receiving about an upcoming expose on the state appraisal boards.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
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.
 
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