Feb 5, 2017
What do you do when the State Board approaches you with a complaint? It is not as unusual as you might think and there are things you should do and things you should not. Tim Andersen is here to guide us through the process.
Dustin, I served 8 years on the state appraisal board and have been hired E&0 companies to defend appraisers. We have an appraiser in our office currently serving on the state appraisal board. The recent announcement from Fannie Mae indicating the in-licensed appraisers may inspect the property is acceptable to Fannie Mae is likely to result in an increase in appraisal board complaints in many states. If you want to chat about it let me know. Craig
Having had a similar hypothetical experience twice (value complaint), which was dismissed both times: I did not notify E&O or hire an attorney. Because I felt the accusation was frivolous for both occasions. Guess I was playing with fire. According to the investigator from Colorado, the states do have the ability to not pursue value complaints when the complaint does not show reasonable cause. I did appear before the board when AZ still had a board, thus I lost a days work in both cases, which were about 7 months apart. Thankfully nothing since then. These were private appraisals and did not have issue with selling guides, USPAP does not have same criteria to my knowledge.