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Quandary and/or Minefield

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Riick

Thread Starter
Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
I have a request for a Field Review; at a glance the appraiser did a poor job in comparable selection, and may have overvalued the property.
The appraiser’s name & company are on the report, not blanked-out – luckily I don’t know him, and so have no bias.

I’m sick of reading misleading reports and having the culprit just walk away.
If I have a misleading report here, I want to send a complaint on to the State Board.

However, I’ve gotten lots of SOWs where the Client expressly states that I am not to discuss the report or my conclusions with anyone.
The way I see it, if I accept a review assignment with those conditions, my hands are tied - there is no way that I can send a complaint to the State Board.

In addition, there is the Gramm-Leach-Bliley Act to consider – If I turn in an appraisal together with the appraiser, am I in violation there??
-and-
then there’s USPAP which requires me to turn a bad appraisal in.

Quandary
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
This is not legal advice.

GLB prohibits the dissemination of nonpublic personal information. There is a website full of guidance on what that is...

Subchapter one deals with these definitions.

here is a link:

http://www.ftc.gov/privacy/glbact/glbsub1.htm

By the way, I consult for GLBA compliance in the Auto industry.

This is also a good link of "plain English GLBA stuff.

http://www.ftc.gov/bcp/conline/pubs/buspubs/glbshort.shtm

Decide what you want. My guess would be that a Jursidictional Exception would be an appropriate reason to disregard these rulings.

It is my opinion, and only my opinion, that it wouldn't be an infraction anyway.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Refer to the confidentiality section under Ethics. Line 289 to 294. You can disclose confidential information and assignment results to state enforcement agencies.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Refer to the confidentiality section under Ethics. Line 289 to 294. You can disclose confidential information and assignment results to state enforcement agencies.
Yes, if the state or lawful agent compels you to report or disclose.

Under USPAP, there is no provision for you to voluntarily disclose or report.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Yes, if the state or lawful agent compels you to report or disclose.

Under USPAP, there is no provision for you to voluntarily disclose or report.

If is no provision then there is no prohibition.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
Greg I think you are reading that to suit your needs. I think if your client says NO .. it means NO ... my personal opinion is you cant disclose that report to the state without violating USPAP yourself. Its a very slippery slope you are on.
 

Brad Ellis

Senior Member
Joined
Feb 7, 2006
Professional Status
Certified Residential Appraiser
State
California
PE,

Not so.

First, state enforcement agencies are specifically named as exclusions to the confidentiality portion of the ethics rule.

Second, turning in an appraiser to a state agency will not be called a violation of GLB.

If Riick thinks it ought to go to the state then he ought to turn it in.

Brad
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Most professional organizations require you to turn in a bad apprasial to the state as well.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
PE,

Not so.

First, state enforcement agencies are specifically named as exclusions to the confidentiality portion of the ethics rule.

Second, turning in an appraiser to a state agency will not be called a violation of GLB.

If Riick thinks it ought to go to the state then he ought to turn it in.

Brad

I'm liking Brad on this one.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
PE,

Not so.

First, state enforcement agencies are specifically named as exclusions to the confidentiality portion of the ethics rule.

Second, turning in an appraiser to a state agency will not be called a violation of GLB.

If Riick thinks it ought to go to the state then he ought to turn it in.

Brad
Absolutely!
 
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