February 2009 Q & A

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Don Clark, Mar 3, 2009.

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  1. Don Clark

    Don Clark Elite Member

    2
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Virginia
    This should answer some questions about out of state review appraisers. See attached.

    However, it still cautions to check with applicable state laws.
     

    Attached Files:

  2. Mike Kennedy

    Mike Kennedy Elite Member

    27
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    "technical review" is not clearly defined in that opinion and should be.
     
  3. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    So... exactly what is an USPAP compliant Standard 3 Review?

    Why should any appraiser pay any attention to USPAP Standard 3 now?
     
  4. David Wimpelberg

    David Wimpelberg Moderator Staff Member Moderator

    18
    Mar 30, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New York
    The Q&A has nothing to do with this...the question is about appraiser credentials, not USPAP compliance.

    Nowhere does is state of imply that appraisers do not have to comply with USPAP. In fact, it implies the opposite, in the case of Federally related transaction. If the appraiser has to have a credential to review in the case of a FRT, whether in or out of state, then obviously they have to comply with USPAP.
     
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