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What does it Mean to Protect the Public Trust
- Thread starter alebrewer
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George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
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- California
WaMu, Fannie and Freddie didn't immediately go for the plea bargain for no reason.
George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
Since you're apparently too thick to draw the reasonable conclusion I'll spell it out for you
AMCs weren't explicitly regulated at the state level at that point, but the NY AG reportedly found enough evidence to make enough threats to sufficiently motivate these parties toward the plea deal so the answer to your question is obviously yes.
Is that clear enough for you or do I need to send in the 4-yr old to translate?
AMCs weren't explicitly regulated at the state level at that point, but the NY AG reportedly found enough evidence to make enough threats to sufficiently motivate these parties toward the plea deal so the answer to your question is obviously yes.
Is that clear enough for you or do I need to send in the 4-yr old to translate?
George Hatch
Elite Member
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- Jan 15, 2002
- Professional Status
- Certified General Appraiser
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- California
That's chick-talk. Have you gone soi?
And why do you repeatedly keep asking the same dumb questions when you already know the answers? This has been common knowledge from the outset. The reason the GSEs agreed *so quickly* to cut the MBs out was because they knew what any investigation would reveal about those appraisals.
And why do you repeatedly keep asking the same dumb questions when you already know the answers? This has been common knowledge from the outset. The reason the GSEs agreed *so quickly* to cut the MBs out was because they knew what any investigation would reveal about those appraisals.
Terrel L. Shields
Elite Member
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- May 2, 2002
- Professional Status
- Certified General Appraiser
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- Arkansas
best calculator ever
USPAP is not straight forward. Anything thinking so should face a board in any number of states. For instance, other appraisers do the reviews in Oklahoma. So you hire people you supposedly regulate to help regulate other appraisers (your competition.)
And I know one case where a person was deliberately sent to a USPAP class by a competitor. The instructor covered all the required material in 5 hours and said he was not feeling well. So dismissed after 5 hours. He then went to the hospital where he had bypass surgery the following day. Meanwhile a complaint was filed and the man lost his USPAP certs and banned from teaching there. Meanwhile others take the class on line and if they finish in 5 hours they get a certificate. I took a class under one of the top officers in a nationwide appraisal organization once and he developed laryngitis on day two. By 3 pm he could barely be heard. Told us to read a book when we got home and dismissed well over an hour early. No sanction for him. Great system isn't it? 90% of CE today is mindless piffle. How to fill out forms. How to comply with secondary market rules. Nothing about how to really do an appraisal.
I would bet 90% of people who face sanction are confident that they complied with the intent of USPAP. Many are shocked at the results of the tribunal.
George Hatch
Elite Member
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- Jan 15, 2002
- Professional Status
- Certified General Appraiser
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- California
We've been over this prolly 100 times over the last 20 years. The actions of the individuals at the state board can be flawed without that being attributable to the origins, intent or content of USPAP. If I make an error in my Cost approach that error is on me, not the weaknesses of the CA. If a judge issues a flawed ruling that flaw is on the judge, not the law.
If you're going to allege that USPAP is unknowable then ima need a citation. What section do you think is beyond the capacity of appraisers to understand? Moreover, if there's ever a doubt in such a dispute, to which party does the tie go to - the runner or the plate? In our legal system the tie is always supposed to go to the runner.
If I'm doing a review and I don't have what it takes to support an allegation on the factual basis then I don't make it. I don't think it's too much to ask the state boards to operate with the same (if not more) restraint. That some don't is a human thing, not an appraisal standards thing.
If you're going to allege that USPAP is unknowable then ima need a citation. What section do you think is beyond the capacity of appraisers to understand? Moreover, if there's ever a doubt in such a dispute, to which party does the tie go to - the runner or the plate? In our legal system the tie is always supposed to go to the runner.
If I'm doing a review and I don't have what it takes to support an allegation on the factual basis then I don't make it. I don't think it's too much to ask the state boards to operate with the same (if not more) restraint. That some don't is a human thing, not an appraisal standards thing.
Surf Cat
Senior Member
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- Apr 21, 2003
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- Certified Residential Appraiser
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- California
I agree.....I do a simple linear regression calculation with my HP-12C on every report (excluding the actives) I do as another test to see where I'm at in comparison to the subject. Great calculator.
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