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#1935117 - 06/24/14 03:59 PM Removing an Apprasier from the Apprasier List.
Cedar Point Guy Offline
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Cedar Point Guy
Joined: Nov 2009
Posts: 732
Cedar Point
Hi All,

My bank wants to remove an appraiser from the approved appraiser list. Are there any regulatory requirements that I must follow to do this or can I just remove the appraiser? Also part of the bank's process is to send a letter to the appraiser stating that he/she is no longer an approved appraiser with the bank. Does anyone have a sample letter?
Thanks
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#1935141 - 06/24/14 04:28 PM Re: Removing an Apprasier from the Apprasier List. Cedar Point Guy
Truffle Royale Offline

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We wouldn't send a letter. We'd just stop using them. There are no regulatory concerns that I know of that prohibit you from just removing them from your list.

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#1935145 - 06/24/14 04:33 PM Re: Removing an Apprasier from the Apprasier List. Cedar Point Guy
Rocky P Offline
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Joined: Jun 2003
Posts: 7,425
Florida
One other thing - if the removal is for "cause", the bank might consider sending an appropriate complaint to the state licensing board.
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#1935151 - 06/24/14 04:44 PM Re: Removing an Apprasier from the Apprasier List. Rocky P
#Just Jay Online
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Cheeseheadland
Originally Posted By: Rocky P
One other thing - if the removal is for "cause", the bank might consider sending an appropriate complaint to the state licensing board.


Exactly!

I also think it is important to document some place as well as why they are being dropped (timing issues, professionalism, appraisal quality), whether in a minutes of an appropriate committee or Board minutes. This helps to document for your examiners why referral to your state licensing board may or may not be in order.

We send a letter when dropping an appraiser rather than just not use them again and hope they get the hint. It is just a professional courtesy, even if the reasoning is not always pleasant.
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