What now for CA appraisers?

[Civic]

With tomorrow's new law signed in CA that complaint for perceived low value can be filed by borrower , how can you possibly sleep well at night? I honestly don't think most appraisers properly digested this news yet. Or their defense mechanism is on full blown denial mode. I gurantee that out of 5 new appraisals you will do , at least 1 borrower will take advantage of that clause. All CA appraisers should boycot lender work & specificly telling them why. I can imagine E&O firms will be jacking up fees starting next week there.

 

[Alsie35]

I'm sorry. But that is my first reaction upon reading this.

But on the bright side, CA appraisers will have appreciably more work in a certain 4-county area that has lost one very hard-working appraiser to "The Exodus".

 

[Civic]

I'm sorry. But that is my first reaction upon reading this.

But on the bright side, CA appraisers will have appreciably more work in a certain 4-county area that has lost one very hard-working appraiser to "The Exodus".

Well, what will be the point of more work when each new order will cause more fear & stress. Its no way to work, fear should not be part of job. It's no laughing matter to CA appraisers. Whoever stopped appraising there did the right thing, when you know it's over, then it's over.

 

[George Hatch]

I don't see how it changes anything for appraisers. We're responsible for what we do.

 

[Civic]

I don't see how it changes anything for appraisers. We're responsible for what we do.

It changes a lot, if before appraisers were asked to respond to value rebutal with comps borrowers submited, i am sure every appraiser delt with that, but that was local thing, where you just explain it in addendum & Send back to AMC/lender, now with this new bs law, they will directly send it to State & we all know how state operates, they will always find something wrong with your appraisal.

 

[Dale Floyd]

We in Tennessee have a similar battle, in that ANYBODY can file a complaint against us for ANY reason.

I spoke with a last commission member of the TN Appraiser Commission a couple of months ago who told me of the various frivolous complaints that have been made to them in the past. One actually complained that the appraiser was finishing his sandwich in her driveway when he arrived and was a little bit early. So silly.

In this state, reports and work files are audited by the states legal department armed with expert reviewers for each and every complaint, looking for any violation they feel is warranted. And the reviewers perspectives are in play with respect to USPAP violations which just shouldn’t be.

We really need a few reforms in our state.

In my view - complaints should only be allowed by intended users and the state should only review based on the complaint. Right now, there is leverage motivation for appraisers to give everybody want they want to prevent a complaint. Hopefully we can get this policy reviewed and modified, but it is what it is for now. I have a great deal of respect to our state’s legal division and commission who has to deal with the present rules established by others before them.

 

[Restrain]

Good thing about Texas is that value complaints are automatically rejected.

 

[Civic]

Good thing about Texas is that value complaints are automatically rejected.

They can also make a change in your state, domino effect.

 

[Elliott]

Given the current state of administrative law, a complaint filed alleging racial discrimination will require the appraiser to 'prove their innocence' which is for all practical purposes an impossible task. E&O insurer will not be willing to pony up the money to go to court ($25,000 minimum) regardless of the evidence surrounding the report. In other words, you will be presumed guilty, you will be found guilty, and most likely have your license revoked.

 

[Civic]

Given the current state of administrative law, a complaint filed alleging racial discrimination will require the appraiser to 'prove their innocence' which is for all practical purposes an impossible task. E&O insurer will not be willing to pony up the money to go to court ($25,000 minimum) regardless of the evidence surrounding the report. In other words, you will be presumed guilty, you will be found guilty, and most likely have your license revoked.

Well said. I will not be surprised if in near future, appraiser fee increase quotes on complex orders will also be subject to complaint. It will be labeled as 'price gauge', 'unfair practice' or whatever term they will deem necessary.