Virgina REAB and Portal Petition

[Michigan CG]

Hopefully this thread does not get personal in any way and stays on topic.

 

[Workbox]

Similarly, I am not relying on the story that Georgia removed the proposed language I criticized here on advice from an employee of FNC.

We are still looking for that language. My sources have not found any such thing. Yet. So what is this language they talk about?

 

[DWiley]

We are still looking for that language. My sources have not found any such thing.

My sources found it in 30 seconds. These new rules become effective in Georgia on 8/31/2008.

http://www.greab.state.ga.us/PDFS/About/TABLEOFCONTENTS539-3-July-24-2008.pdf

 

[Workbox]

My sources found it in 30 seconds. These new rules become effective in Georgia on 8/31/2008.

http://www.greab.state.ga.us/PDFS/About/TABLEOFCONTENTS539-3-July-24-2008.pdf

Thank so very Much DW, I knew I could count on YOU. :Emoticon_hug:

 

[Mike Phillips]

My sources found it in 30 seconds. These new rules become effective in Georgia on 8/31/2008.

http://www.greab.state.ga.us/PDFS/About/TABLEOFCONTENTS539-3-July-24-2008.pdf

Yeah, thanks - I like this:

"An appraiser may grant permission to another to affix the appraiser’s signature to an appraisal report provided that the permission is in writing, the permission extends to only one specific appraisal report, the writing identifies the report and the amount of the opinion of value, and the appraiser maintains a copy of the written permission in the appraiser’s work file. An appraiser shall not grant blanket authority to another person to affix the appraiser’s signature to an appraisal report or reports;"

my underline -

Now that is approaching reasonable. Trouble is, there is still no requirement for the appraiser to disclose the act to client which I find hard to accept.

 

[Workbox]

So what part was FNC so intricate in the amendment? where are the parts of propriety conversion programs?

 

[The Bob]

c. select comparable properties for valuation of a residential property that require
the net total of any adjustments to the sales price of a comparable sale not to exceed
15% and the gross total of all adjustments (whether positive or negative) not to
exceed 25%, absent a credible real estate appraisal explanation for differing
adjustments;

So GA has now codified "guidelines" as law?

 

[Joyce Potts]

Oh terrific. Lets go back to those good ole Fannie Mae guidelines. The Skippies best friend.

 

[George Hatch]

"An appraiser may grant permission to another to affix the appraiser’s signature to an appraisal report provided that the permission is in writing, the permission extends to only one specific appraisal report, the writing identifies the report and the amount of the opinion of value, and the appraiser maintains a copy of the written permission in the appraiser’s work file. An appraiser shall not grant blanket authority to another person to affix the appraiser’s signature to an appraisal report or reports;"

No big deal. The existing "text message via cell phone" technology already provides a lot of flexibility.

 

[Mike Phillips]

No big deal. The existing "text message via cell phone" technology already provides a lot of flexibility.

I just thought I'd call everyone's attention to what I considered to be a clear, well written standard, one that works to maintain and (dare I say improves?) the public trust in appraising just in case some folks are interested. Too bad it comes from only one state instead of from a higher authority.

True, true, those seeking a work-around the spirit of the law will innovate the rules. They always do. But even with your text message solution in mind, the national sweatshop located here who routinely has their office manager rubber stamp the appraiser's signature (with an appropriate level of control, of course), would be doing a lot of text-messaging.

Then there is that sticky issue regarding having a paper trail for each instance of permission being granted, which I expect, the state of GA would demand. Also, there is that other sticky issue: "shall not grant blanket authority" to get around.

But I agree, the pontificators would make short work of the term "written" the same way they made short work of "sole personal control of affixing the signature." But IF the state is truly interested in regulating appraisers they just made their job a whole lot easier.