....looks like conversation this evening with no votes tomorrow or Monday......COULD be Tuesday morning......looks like decision before Friday of next week.....the important appraiser parts are by my current understandings; 1) "...a written appraisal of the property to be mortgaged, 2) "...performed by a qualified appraiser who conducts a physical property visit of the interior of the mortgaged property.", 3) "...qualified appriaiser defined...is certified or licensed by the State in which the property to be appraised is located..", 4) "...a creditor found to have willfully failed to obtain an appraisal as required....shall be liable to the consumer for the sum of $2000.", 5) "...failing to timely compensate an appraiser for a completed appraisal regardless of whether the transaction closes.", 6) "...asking an appraiser to provide 1 or more of the following services: ...provide further detail, substantiation, or explanation for the appraiser's value conclusion.", 7) "...each person who violates this section shall forfeit and pay a civil penalty of not more than $10,000 for each day such violation continues.", 8) "...Threshold Levels..and that such threshold level provides reasonable protection for consumers who purchase 1-4 unit single-family residences.", and 9) "....Mandatory reporting.-Any mortgage lender, mortgage banker, real estate broker, or any other person with and interest in a real estate transaction...believe an appraiser is violating applicable laws...".........interesting???.........best to all.........rs
