West Virginia Code 30-38A-16 – Disciplinary action

The board may deny, revoke or refuse to issue or renew the registration of an appraisal management company or may restrict or limit the activities of an appraisal management company or of a person or firm that owns an interest in or participates in the business of an appraisal management company for the following reasons:

Terms Used In West Virginia Code 30-38A-16

Appraisal: A determination of property value.
Appraisal: means an analysis, opinion, or conclusion prepared by a real estate appraiser relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate or identified real property. See West Virginia Code 30-38A-3
Appraisal Management Company: means a person or firm that provides appraisal management services to creditors or to secondary mortgage market participants, including affiliates. See West Virginia Code 30-38A-3
Appraisal management services: means the business of managing the process of having an appraisal performed for compensation or pecuniary gain, including but not limited to any of the following actions:
(1) Conducting business directly or indirectly by telephone, electronically, mail, or in person. See West Virginia Code 30-38A-3
Board: means the West Virginia Real Estate Appraiser Licensing and Certification Board established under the provisions of §. See West Virginia Code 30-38A-3
Firm: means a corporation, limited liability company, partnership, sole proprietorship, or any other business entity. See West Virginia Code 30-38A-3
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
Registration: means a registration issued by the board under the provisions of this article. See West Virginia Code 30-38A-3

(1) A person or firm acted as an appraisal management company or performed appraisal management services without being properly registered with the board;

(2) A person or firm did not perform the duties set out in this article;

(3) A person or firm engaged in unprofessional conduct as set out in this article;

(4) A person or firm engaged in a prohibited act set out in this article;

(5) The application for registration contained false or misleading information;

(6) A person or firm fraudulently or deceptively obtains or attempts to obtain a registration;

(7) A person or firm fraudulently or deceptively used a registration;

(8) A person or firm violated the provisions of this article, this code, or the board's rules;

(9) A person or firm was found guilty of a felony or pleaded guilty or nolo contendere to a felony;

(10) Within the past ten years, a person or firm was found guilty of or pleaded guilty or nolo contendere to a misdemeanor involving:

(A) Mortgage lending;

(B) Appraisals;

(D) Fraudulent or dishonest dealing;

(11) A person or firm is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving appraisal management services or operating an appraisal management company;

(12) A person or firm is the subject of an order of the board or any other jurisdiction's appraisal management company regulatory agency that denied, revoked or restricted a person's or firm's privilege to operate as an appraisal management company;

(13) A person or firm failed to pay the applicable fees; or

(14) For any other finding by the board.

Article 38A Contents