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Supervisory Inspection

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Judy Whitehead (Florida), Feb 3, 2009.

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  1. Judy Whitehead (Florida)

    Judy Whitehead (Florida) Senior Member

    0
    Jan 20, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    OK - I can't find this in an old thread. Did anyone ever find out "for sure" that a supervisor must perform the inspection with a trainee? The last I read there was an opinion that only if the supervisor signed on the left side as the "appraiser" then they must inspect the property, but they couild still sign as a supervisory appraiser on the right without having to perform the inpsection with the trainee. Does anyone know for sure....the November 14, 2008 announcement is a little unclear.
     
  2. Em Tee

    Em Tee Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    If they're signing on the right as Supervisor, there's checkboxes underneath that say did or did not inspect. They just need to mark what they did. That being said, I don't know any lenders that will accept a report if the supervisor did not inspect.
     
  3. Thomas Fiehler

    Thomas Fiehler Senior Member

    2
    Jun 2, 2003
    Professional Status:
    Certified General Appraiser
    State:
    Ohio
    Also, some states require the supervisor to inspect a certain number before the "trainee" can go out on their own. But, like ET said, I only know a couple of lenders that would accept a trainees' report.
     
  4. David Dietz

    David Dietz Member

    0
    Oct 30, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    The below is the body of an email from a Fannie Mae representative.

    The intent of our Announcement 08-30 as it relates to Supervisory Appraisers was to make it clear that if the Supervisory Appraiser signs the appraisal report on the left-hand side of the report form as the "appraiser", that based on our definition of "appraiser" they must have also performed the level of inspection required of the assignment.

    What we are trying to address is the situation where a trainee or unlicensed appraiser, if allowed by applicable state law, goes out and inspects the property and completes the report but they do not sign report. As a result the normal Supervisory Appraiser in turn signs the report on the left-hand side but has never inspected the property. That is unacceptable, misleading and borders on fraud. We have had reports where this is being done either as a result of trainee laws or just questionable practices by some appraisers.
     
  5. narizona

    narizona Sophomore Member

    0
    Oct 29, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    read appraisers certification, which your signing. az. statues the appraiser has to be there for the inspection. trainees can't
     
  6. David Dietz

    David Dietz Member

    0
    Oct 30, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    This is in reference to the Fannie Mae announcement. Individual states have separate rules. Besides the original poster is in Florida.
     
  7. Judy Whitehead (Florida)

    Judy Whitehead (Florida) Senior Member

    0
    Jan 20, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Thanks, David. My lender (unfortunately) has interpreted it differently. What you received by email is what I thought it was. But.....I spoke to the person in charge of appraisers yesterday and what is happening is that when the property doesn't appraise as high as the homeowner thinks it should they look at the signature and see trainee and assume they have gotten someone who doesn't know what they are doing. My trainee worked for someone else for a year or so, quit, went back to school, started all over again and has been with me for two years. Due to a screwup at the state level (go figure!) they didn't issue his license until 5/2007 so he has to wait until 5/2009 to take the exam - no one is even offering the ABII course for state cert until the end of March.

    But at least we don't have too much longer. I don't know how any trainee will find a job now unless they are related to the supervisor. My guy says that he will probably be the last trainee in the world. I am so careful too.....he works everyday with me in the office, as did any other trainee I have ever had. He is actually "supervised" and "trained." I felt like he could measure a house even more efficiently than I can (me 5'4" and him 6'4") and would trust him to do a careful inspection. It is the other work, finding comps, making adjustments, etc. that is actually the meat of the matter.

    There is another thread about amc's paying higher fees and that is what we are seeing as well....oh well, back to work!
     
  8. Couch Potato

    Couch Potato Elite Member

    0
    Mar 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Judy, the only thing that "changed" was clearly stating a supervisor cannot sign on the left as the appraiser without inspecting the property. No change to signing on the right was made, just as David stated. As you found with your call, more and more lenders don't want a "trainee" to be the appraiser signing on the left.
     
  9. David Dietz

    David Dietz Member

    0
    Oct 30, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Those lenders who are also stating it has changed and Sups must always inspect can not read.
     
  10. nauthead

    nauthead Senior Member

    17
    Nov 26, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Here's The Link

    Fannie Mae announcement 08-30, dated November 14th 2008.

    "Fannie Mae defines the appraiser as the individual who personally inspected the property being appraised, inspected the exterior of the comparables, performed the analysis, and prepared and signed the appraisal report as the appraiser. Fannie Mae allows an unlicensed or uncertified appraiser who works as an employee or subcontractor of a licensed or certified appraiser to perform a significant amount of the appraisal (or the entire appraisal if he or she is qualified to do so)—as long as the appraisal report is signed by a licensed or certified supervisory or review appraiser and is acceptable under state law. This policy is updated to now require that if a supervisory appraiser signs the appraisal report as the appraiser, the supervisory appraiser must have performed the inspection of the subject property".

    https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0830.pdf
     
    Last edited: Feb 4, 2009
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