| (iv) Another government agency or government sponsored
entity, including, but not limited to, the United States Department
of Veteran's Administration, the United States Department of Housing
and Urban Development, the State of Texas, Fannie Mae, and Freddie
Mac;
(v) A consumer contemplating a real property transaction
involving the consumer's principal residence;
(H) Whether Respondent's violations caused any harm,
including financial harm, and the amount of such harm;
(I) Whether Respondent acknowledged or admitted to
violations and cooperated with the Board's investigation prior to
any contested case hearing;
(J) The business operating history of the AMC, including:
(i) The size of the AMC's appraiser panel;
(ii) The length of time Respondent has been licensed
as an AMC in Texas;
(iii) The length of time the AMC has been conducting
business operations, in any jurisdiction;
(iv) The nature and extent of any remedial measures
and sanctions the Respondent had received related to the areas in
which violations were found; and
(v) Respondent's affiliation with other business entities;
(K) Whether Respondent can improve the AMC's practice
through the use of remedial measures; and
(L) Whether Respondent has voluntarily completed remedial
measures prior to the resolution of the complaint.
(3) The sanctions guidelines contained herein shall
be employed in conjunction with the factors listed in paragraph (2)
of this subsection to assist in reaching the proper disposition of
a formal complaint:
(A) 1st Time Discipline Level 1--violations of the
AMC Act, Board rules, or USPAP which evidence minor deficiencies will
result in one of the following outcomes:
(i) Dismissal;
(ii) Dismissal with non-disciplinary warning letter;
(iii) Contingent dismissal with remedial measures.
(B) 1st Time Discipline Level 2--violations of the
AMC Act, Board rules, or USPAP which evidence serious deficiencies
will result in one of the following outcomes:
(i) Contingent dismissal with remedial measures;
(ii) A final order which imposes one or more of the
following:
(I) Remedial measures;
(II) Required adoption and implementation of written,
preventative policies or procedures;
(III) A probationary period with provisions for monitoring
the AMC;
(IV) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(V) Monitoring and/or preapproval of the licensed activities
of the AMC for a specified time period or until specified conditions
are satisfied;
(VI) Minimum of $1,000 in administrative penalties
per act or omission which constitutes a violation(s) of the AMC Act,
Board rules, or USPAP; each day of a continuing violation is a separate
violation.
(C) 1st Time Discipline Level 3--violations of the
AMC Act, Board rules, or USPAP which evidence serious deficiencies
and were done with knowledge, deliberately, willfully, or with gross
negligence will result in a final order which imposes one or more
of the following:
(i) A period of suspension;
(ii) A revocation;
(iii) Remedial measures;
(iv) Required adoption and implementation of written,
preventative policies or procedures;
(v) A probationary period with provisions for monitoring
the AMC;
(vi) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(vii) Monitoring and/or preapproval of the licensed
activities of the AMC for a specified time period or until specified
conditions are satisfied;
(viii) Minimum of $2,500 in administrative penalties
per act or omission which constitutes a violation(s) of the AMC Act,
Board rules, or USPAP; each day of a continuing violation is a separate
violation.
(D) 2nd Time Discipline Level 1--violations of the
AMC Act, Board rules, or USPAP which evidence minor deficiencies will
result in one of the following outcomes:
(i) Dismissal;
(ii) Dismissal with non-disciplinary warning letter;
(iii) Contingent dismissal with remedial measures;
(iv) A final order which imposes one or more of the
following:
(I) Remedial measures;
(II) Required adoption and implementation of written,
preventative policies or procedures;
(III) A probationary period with provisions for monitoring
the AMC;
(IV) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(V) Monitoring and/or preapproval of the licensed activities
of the AMC for a specified time period or until specified conditions
are satisfied;
(VI) Minimum of $1,000 in administrative penalties
per act or omission which constitutes a violation(s) of the AMC Act,
Board rules, or USPAP; each day of a continuing violation is a separate
violation.
(E) 2nd Time Discipline Level 2--violations of the
AMC Act, Board rules, or USPAP which evidence serious deficiencies
will result in a final order which imposes one or more of the following:
(i) A period of suspension;
(ii) A revocation;
(iii) Remedial measures;
(iv) Required adoption and implementation of written,
preventative policies or procedures;
(v) A probationary period with provisions for monitoring
the AMC;
(vi) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(vii) Monitoring and/or preapproval of the licensed
activities of the AMC for a specified time period or until specified
conditions are satisfied;
(viii) Minimum of $2,500 in administrative penalties
per act or omission which constitutes a violation(s) of AMC Act, Board
rules, or USPAP; each day of a continuing violation is a separate
violation.
(F) 2nd Time Discipline Level 3--violations of the
AMC Act, Board rules, or USPAP which evidence serious deficiencies
and were done with knowledge, deliberately, willfully, or with gross
negligence will result in a final order which imposes one or more
of the following:
(i) A period of suspension;
(ii) A revocation;
(iii) Remedial measures;
(iv) Required adoption and implementation of written,
preventative policies or procedures;
(v) A probationary period with provisions for monitoring
the AMC;
(vi) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(vii) Monitoring and/or preapproval of the licensed
activities of the AMC for a specified time period or until specified
conditions are satisfied;
(viii) Minimum of $4,000 in administrative penalties
per act or omission which constitutes a violation(s) of the AMC Act,
Board rules, or USPAP; each day of a continuing violation is a separate
violation.
(G) 3rd Time Discipline Level 1--violations of the
AMC Act, Board rules, or USPAP which evidence minor deficiencies will
result in a final order which imposes one or more of the following:
(i) A period of suspension;
(ii) A revocation;
(iii) Remedial measures;
(iv) Required adoption and implementation of written,
preventative policies or procedures;
(v) A probationary period with provisions for monitoring
the AMC;
(vi) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
(vii) Monitoring and/or preapproval of the licensed
activities of the AMC for a specified time period or until specified
conditions are satisfied;
(viii) Minimum of $2,500 in administrative penalties
per act or omission which constitutes a violation(s) of the AMC Act,
Board rules, or USPAP; each day of a continuing violation is a separate
violation.
(H) 3rd Time Discipline Level 2--violations of the
AMC Act, Board rules, or USPAP which evidence serious deficiencies
will result in a final order which imposes one or more of the following:
(i) A period of suspension;
(ii) A revocation;
(iii) Remedial measures;
(iv) Required adoption and implementation of written,
preventative policies or procedures;
(v) A probationary period with provisions for monitoring
the AMC;
(vi) Monitoring and/or preapproval of AMC panel removals
for a specified period of time;
Cont'd... |
