Appraisal complaint hotline coming

image By the end of the year, the federal Appraisal Subcommittee should have its hotline operational, and buyers, Realtors, lenders, and others can use it to file complaints about appraisers and appraisal management companies.

The hotline is required by the Dodd-Frank Act and is expected to open by the end of the year. It hasn’t opened yet because the ASC hasn’t quite figured out what it’s going to do with the complaints that come in. Some (if not most) will undoubtedly be referred to individual states for investigation and enforcement.

Of course, states may not have the funds or staff to do much, but that’s getting ahead of ourselves.

Read the full story over at Housing Wire.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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