Virginia is NOT Playing Around!
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Two AMCs Disciplined by VREAB…
At the May 16, 2017, Virginia Real Estate Appraisers Board Meeting two AMC’s were disciplined by the Board.
SettlementOne Valuation Corporation was disciplined in Mississippi, Illinois and Pennsylvania, all for unlicensed activity within those states. SettlementOne was required to report the disciplinary action to Virginia within 30 days, which they did not. The Virginia Real Estate Appraisers Board imposed a $2,500 monetary penalty for these violations of the Boards Regulations.
Dart Appraisal was disciplined in Minnesota for providing an estimate of value on the engagement letter to the appraiser. Dart Appraisal was required to report this disciplinary action to the Virginia Real Estate Appraiser Board within 30 days, which they did not. A consent order was signed and Dart Appraisal was required to pay board costs of $150.
It is amazing how AMC’s have been licensed just a short time and the amount of disciplinary actions that have reoccurred with the same AMC. Does this beg the question, should they be allowed to operate at all? Clearly they have not learned from their mistakes.
Additionally, the VREAB imposed revocation of license on two appraiser licensees.
If you have never attended a VREAB meeting, you should consider it. They are always interesting and you can receive up to 2 hours of Continuing Education per renewal cycle.
The full meeting minutes will be available on the Townhall once posted, usually in about a week.
Save the Date: June 13, 2017
Virginia Coalition of Appraiser Professionals
2017 Annual Conference, Tuesday June 13, 2017, 4:00 PM
Roma Ristorante Italiano
7240 Bell Creek Road
Mechanicsville, VA 23111
Sr. Director of Governmental Affairs and Chief Lobbyist
American Society of Appraisers
There is no cost to attend the conference and dinner will be available for purchase during the conference. All members and potential members are welcome.
AppraisersBlogs Team received an email from Jim Chapman, Board Administrator of Virginia Real Estate Appraiser, requesting the following correction regarding Dart Appraisal:
We would like to notify the administrators of this site of incorrect information regarding the Virginia Real Estate Appraiser Board meeting held on May 16, 2017. Your blog indicates that Dart Appraisal “was required to report this disciplinary action to the Virginia Real Estate Appraiser Board within 30 days, which they did not.”
In fact, Dart Appraisal did report the violation to the Virginia Real Estate Appraiser Board and was found in violation of 18 VAC 130-30-160.4, which is for “having been . . . disciplined in any jurisdiction . . . .” Dart Appraisal was not found in violation of 18 VAC 130-30-160.5, which is the regulation that requires written notification within 30 days.
Virginia Real Estate Appraiser Board