The marriage of an appraiser to the County Tax Assessor-Collector in the same Texas appraisal district was determined by the attorney general to break the law [Daily Times (TX)]. It was determined to be a conflict of interest.
“Isn’t that crazy? We thought it was funny that we had to wait for an attorney general’s opinion to tell us whether we could or couldn’t,” Rector told the Houston Chronicle on Tuesday. “I bet that’s never happened before.”
I can only imagine if the same ethical standard was applied to the lending-appraisal industries as a whole. The avoidance of even the perception of a potential conflict would render the structure of the lender-appraiser relationship illegal.
Tags: Soapbox Blog, Appraisal Pressure, Appraisal Process, Mortgage Fraud