Sounding Bored is my semi-regular column on the state of the appraisal profession. This week I say “I told you so” when the author of what was hailed as critical appraisal protection legislation resigned under a cloud of ethics problems.
Representative Bob Ney, Republican of Ohio, has agreed to plead guilty to federal criminal charges related to his dealings with the corrupt lobbyist Jack Abramoff, lawyers and others with knowledge of the investigation said Thursday.
The bill that he backed was supposed to protect appraisers from corruption of the appraisal ordering process and structure of the current lending industry plead guilty. This irony could be viewed as humorous if it were not for the fact that appraisers are still left twisting in the wind.