Brian Weaver
Senior Member
- Joined
- Apr 16, 2005
- Professional Status
- Gvmt Agency, FNMA, HUD, VA etc.
- State
- Illinois
The major (mind you there are other problems) sticking point for me is that the assignment violates USPAP in that payment is Contingent upon it being a "HIT" where as if it is a "No hit" there is no payment.
Wells Fargo is soliciting for licensed appraisers to accept these conditions, and these conditions present a contingency which is a violation of USPAP.
I am puzzled that regulators can or will do nothing to inform WELLS to Cease and Desist soliciting licensed individuals to commit what amounts to be a violation of Law in many states.
This feels like someone is walking a fine line that we all know is crossed.
( As an example , If my wife starts to solicit for someone to drive a nail in my head, for $55, is she soliciting to commit a crime? people have had Nails voluntarily and involuntarily driven in their heads without dieing. And if someone does take up the solicitation and I end up dead will they be charged with a crime?)
This is what this feels like to me, we know it's wrong, we know what the results are going to be, but nobody in authority wants to step forward and state you can't solicit this because you are requesting someone violate a law.
The "authority" to tell Wells-Fargo anything would be their regulator.