Monday, August 1, 2011

Consumers and Appraisers – Republicans Filibuster

The senate is in charge and are holding up any nominee to head the Consumer Financial Protection Bureau.

From Mike Konzal:

"...[The three] major strengths [of the the Dodd-Frank Act ] a director, funding and accountability with a focus on consumer protection — are exactly what the Republicans want to dismantle. No doubt they are trying to stall and annoy the implementation of Dodd-Frank and prevent the CFPB from doing all its work — of course they are — but if there were three critical points where they could significantly weaken what the CFPB can do, these would be those three.

They are essentially violating their oath of office by promising to keep anyone from running the agency unless some changes are made."

So what does this mean to appraisers?

Nothing new and nothing being done about the ‘Customary and Reasonable Fee” provision enacted by Dodd-Frank.

As usual we are in another waiting game with our hands tied.

Again, I urge you to get involved. Stay up to date with the news and join your local appraiser coalitions! Contact your state licensing agency, congress and other regulators. Only together can we win this battle against the appraisal management companies that are destroying our industry.

Bryan Knowlton
California Real Estate Appraiser

The entire blog post is here: Source

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