What does it Mean to Protect the Public Trust

[Mejappz]

Independent Valuation Protection Institute
“To promote and preserve the Public Trust inherent in professional appraisal practice”
Mission: Honesty, impartiality, and professional competency are required of all Appraisers
under the Uniform Standards of Professional Appraisal Practice (USPAP). Our
mission is to assist and protect American Families and Consumers when making
their largest single financial investment, their Home.
Goals:
• Protect the Public Trust via establishment and operation of the Independent Valuation
Protection Institution (IVPI) as an independent, nonprofit, organization.
• Preserve the integrity and impartiality of the Appraisal Process.
• Establish procedures for the review, mediation, and reporting of complaints from
Consumers, Appraisers, Lenders, GSEs, Government Agencies, and Investors.
• Establish efficient, secure, professional delivery of appraisal services.
• Provide uniform appraisal processing and quality control.

What an effin joke.

 

[George Hatch]

Then what purpose does USPAP serve? Or for that matter, licensing? If FNMA has selling guides and FHA has 4000.1 then who needs USPAP? The government has its own standards like for land acquisitions. The IRS wants certain things... and as the Robert Palmer case shows, an appraiser who was active pre-licensing can still go to jail under existing laws then.

Because one client cutting an appraiser off only solves that one client's risk problems, but a state board cutting an appraiser off solves everyone's problems.

Not to mention that the utility of any uniform standard is that none of the users can just make stuff up on the fly, which if you had been appraising prior to licensing you would recognize that as having been a real thing. Back in the day disputes about appraisals were settled by status, not by standards. You don't understand this because it didn't exist as such by the time you entered the business. You and 2/3 of the other critics in this thread.

 

[George Hatch]

What an effin joke.

It's way more than you or the other bleeders ever attempted to do for other appraisers.

 

[djd09]

What an effin joke.

they will create a hotline for us...

 

[George Hatch]

Fannie/Freddie agreed in writing to put up $25M to do it. Our proposal was intended to propose how to do it.

We were trying to steer the business away from the AMCs. For you, not for me because I wasn't even working those lines of business.

 

[Terrel L. Shields]

Everything is "for profit".

can't tell it by my bank account Why do you think I still work at age 72?

It's not an easy job.

The unfortunate truth is that we work with people with an agenda and because of that they intrinsically attempt to influence the appraiser. Secondly we are making a fairly short spot inspection of a house and hope we didn't miss anything. We are not precision estimators and even if we could precisely estimate every board in a house, it does not matter. Buyer and Seller motivations trump quant analysis.

state board cutting an appraiser off solves everyone's problems.

Not really - in almost every state, they are not able to stop you from appraising unlicensed. You can go directly to any bank as an evaluator and produce below de minimus evaluations all day long, never worry about being sanctioned, fined or forbidden to value that property. Most mineral appraisers in the USA are unlicensed as appraisers. Most timber appraisers are unlicensed as appraisers. Most machinery appraisers are not licensed as appraisers. And people in those specialties cannot even earn hours towards a CG or CR from doing these kinds of appraisals even when mineral and timberland appraisals are real property. And I do not know of a court in the nation who will stop an unlicensed appraiser from testifying in court if they otherwise meet the Daubert standard....if that standard is even brought up. Most of the condemnation appraisers in Oklahoma are unlicensed after DOT stacked the state board and tried to sanction them all until the real courts reversed their decision.

 

[Dublin ohio]

Technology killed residential appraisal....

Considering some of the posts I have read over the years. One could surmise that willful ignorance or just plain stupidity also contributed.

 

[shrubberyvaluation]

Its like giving someone a job as an umpire, and letting anyone file a complaint when they don't like their call and most of them don't even know the rules. Upholding the public trust is when you make the wrong call to appease people.

 

[djd09]

We were trying to steer the business away from the AMCs. For you, not for me because I wasn't even working those lines of business.

that is not what the mission statement says...or all the ivpi threads

 

[Mejappz]

It's way more than you or the other bleeders ever attempted to do for other appraisers.

From the same guy who said it was fine that appraisers don’t make market condition adjustments in an increasing market because they would get pushback from their clients. Thus, they mislead both client and user and violate USPAP. Go back to your bubble in San Diego before it pops. USPAP has failed, and so have you get over it already time to move on. Look into a hobby travel somewhere. I can tell you don’t get out much.