AJL118
Member
- Joined
- Jul 29, 2005
- Professional Status
- General Public
- State
- Florida
Studeman Bites The Dust - NC Appraisal Board
James M. Studeman A5321 (Blowing Rock)
Following a hearing, the Board revoked Mr. Studeman’s residential certification. Mr. Studeman was a certified residential real estate appraiser in the State of Florida until September 2007, when his certification was revoked. He had an appraisal practice in Florida, in which he also supervised trainees. The State of Florida issued an Administrative Complaint to Mr. Studeman in 2007 that contained 72 allegations of material fact. The Florida complaint involved seven appraisals of properties located in Florida. Mr. Studeman appeared at a hearing, without counsel, before the State of Florida on June 5, 2007, and the State of Florida issued its decision on September 13, 2007. In its decision, the State of Florida found that Mr. Studeman failed to provide direct supervision to his trainees and violated State of Florida rules by failing to sign and put his certification number on the trainees’ appraisal experience logs. He also signed at least seven appraisal reports certifying that he did inspect the interior and exterior of the subject properties and the exterior of the comparable sales when in fact his trainees had done so, and he had only reviewed photographs of the subject properties. Mr. Studeman was also found to be guilty of misrepresentation, failure to exercise reasonable diligence in developing an appraisal report, and failing to retain copies of the appraisals and work files of reports performed by his trainees. He failed to note a trainee’s assistance in an appraisal report, and made several mistakes on reports regarding adjustments, sales histories and subject descriptions. He was also found guilty in Florida of violating the Ethics Rule and Standards 1 and 2 of USPAP. Based on those findings, the State of Florida revoked Mr. Studeman’s certification and ordered him to pay a $10,000 administrative fine within 30 days of the filing date of the order. Although Mr. Studeman was present at the hearing in Florida and heard the decision to revoke his certification, he did not notify the Appraisal Board that his Florida certification had been revoked. He admitted in the hearing on November 18, 2008 in North Carolina that he did not personally inspect the subject properties and that he had signed certifications on each appraisal report stating that he had done so. Mr. Studeman asserted that viewing photographs is equivalent to a personal inspection of a subject property. This assertion is without merit.
James M. Studeman A5321 (Blowing Rock)
Following a hearing, the Board revoked Mr. Studeman’s residential certification. Mr. Studeman was a certified residential real estate appraiser in the State of Florida until September 2007, when his certification was revoked. He had an appraisal practice in Florida, in which he also supervised trainees. The State of Florida issued an Administrative Complaint to Mr. Studeman in 2007 that contained 72 allegations of material fact. The Florida complaint involved seven appraisals of properties located in Florida. Mr. Studeman appeared at a hearing, without counsel, before the State of Florida on June 5, 2007, and the State of Florida issued its decision on September 13, 2007. In its decision, the State of Florida found that Mr. Studeman failed to provide direct supervision to his trainees and violated State of Florida rules by failing to sign and put his certification number on the trainees’ appraisal experience logs. He also signed at least seven appraisal reports certifying that he did inspect the interior and exterior of the subject properties and the exterior of the comparable sales when in fact his trainees had done so, and he had only reviewed photographs of the subject properties. Mr. Studeman was also found to be guilty of misrepresentation, failure to exercise reasonable diligence in developing an appraisal report, and failing to retain copies of the appraisals and work files of reports performed by his trainees. He failed to note a trainee’s assistance in an appraisal report, and made several mistakes on reports regarding adjustments, sales histories and subject descriptions. He was also found guilty in Florida of violating the Ethics Rule and Standards 1 and 2 of USPAP. Based on those findings, the State of Florida revoked Mr. Studeman’s certification and ordered him to pay a $10,000 administrative fine within 30 days of the filing date of the order. Although Mr. Studeman was present at the hearing in Florida and heard the decision to revoke his certification, he did not notify the Appraisal Board that his Florida certification had been revoked. He admitted in the hearing on November 18, 2008 in North Carolina that he did not personally inspect the subject properties and that he had signed certifications on each appraisal report stating that he had done so. Mr. Studeman asserted that viewing photographs is equivalent to a personal inspection of a subject property. This assertion is without merit.
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