Two Hats: Appraiser/Loan Officer? Ethical?

[Jennifer l. Smith]

Recently I heard of an appraiser trainee who was offered a training position (as a loan officer) with a Mortgage Broker. My question, is it ethical to work in both fields simoultaneously. The trainee states that all orders will come form external sources, no internal appraisal orders will be done. Can one hold both "hats" , or does this violate ethics laws or rules?

 

[Vegan702]

Recently I heard of an appraiser trainee who was offered a training position (as a loan officer) with a Mortgage Broker. My question, is it ethical to work in both fields simoultaneously. The trainee states that all orders will come form external sources, no internal appraisal orders will be done. Can one hold both "hats" , or does this violate ethics laws or rules?

I was both at one time and know of many who are both and a real estate agent also, so they are all 3 at the same time. But never working on the same assignment, excpet the loan and re agent can here in NV with proper disclosure.

 

[moh malekpour]

It is tough enough to have one hat on. you put two hats on, you are not stable anymore, you got to dance all day long.

 

[Kevin Mc]

I know of one....

although I don't think he has appraised in several years and strictly does loans. He teaches appraisal classes locally but makes 100% of his income as a LO.

 

[The Dog]

I guess to me the answer is:

If you have to ask whether or not it is ethical, you really already have the answer.

Just my opinion

 

[Vegan702]

I guess to me the answer is:

If you have to ask whether or not it is ethical, you really already have the answer.

Just my opinion

One has nothing to do with the other. I am assuming she is not asking if you can be a loan officer and an appraiser on the same deal. I have met plenty of people who hold other positions besides appraiser. To some appraising is the 2nd job to being a firefighter, police officer or some other profession such as loan officer, real estate agent or the like. If you think about it, it really does make a good 2nd job to some other decent paying full time job. You can knock out a couple appraisals a week for an extra $1000 in income per week in very little time in the suburbs.