Friday, March 14, 2014

Appraising for Friends & Family, Not A Conflict?

King Lia-A-Ton told the Citizens Voice that he does appraisels for The Wilkes-Barre City Employees Federal Credit Union, that serves employees of Wilkes-Barre, Wilkes-Barre Township and Plains Township and their families.

"I don't do many. It's very few," Leighton said.

The mayor said his firm has done business with the credit union for 25 years and it's just like doing business with any other financial institution.

"There is no conflict," Leighton said.

  • Ya it’s just like doing business with any other financial institution, who’s sold client base is my friends, coworkers, and family!!!

According to the Pennsylvania § 36.281. Standards of Professional Conduct, a Conflict of interest occurs when:

Conflict of interest—A situation in which a certified Pennsylvania evaluator uses the certified Pennsylvania evaluator’s employment or confidential information received through the course of the employment for the private pecuniary benefit of the certified Pennsylvania evaluator, a member of the certified Pennsylvania evaluator’s immediate family, or a business with which the certified Pennsylvania evaluator or a member of the certified Pennsylvania evaluator’s immediate family is associated.

Also Appraisers may NOT:

Certified Pennsylvania evaluators may not perform assessment and appraisal-related assignments that could reasonably be construed as being in conflict with their responsibilities to their jurisdictions, employers or clients, in which they have unrevealed personal interests or biases, or that they are not qualified to perform.

  • Now I ask you, if your coworker, buddies, or family members wanted a better deal or higher value so they might get a bigger loan to value, is it conceivable that a friend, coworker, or family member might be more flexible on their determination of value?

Wake Up Wilkes Barre


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