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  #1  
Old 08-13-2009, 08:15 PM
Mike Garrett, RAA's Avatar
Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Default Can You Sign This?

By acceptance of this appraisal order, the assigned appraiser does declare he/she has at minimum three years of geographic competency in the subject propertyís market area, competency of the subjectís property type and knowledge of and full access to all data sources (including local sources unique to the subjectís market). When completing this appraisal assignment, you warrant these requirements within the report itself under Certifications 11 and 12. If for any reason you cannot legitimately claim specific geographic and property type competency in this market, please notify LSI immediately.
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Old 08-13-2009, 08:24 PM
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Absolutely, just not for LSI. (My Choice).
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  #3  
Old 08-13-2009, 09:11 PM
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As I posted in another thead: How many Skippy appraisers do you think is going to admit they don't have experience in appraising a specific property?
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Old 08-13-2009, 09:37 PM
TJSum TJSum is offline
 
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The way it sounds many of these appraisers sign off as the inspecting appraiser when they never left the office, if they are doing that, why would they get religion on this signature.
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Old 08-14-2009, 12:13 AM
Randolph Kinney Randolph Kinney is offline
 
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LSI gets to play dumb, like the appraiser told me they were competent in that local market. LSI never looked into their own files to see if the appraiser did any work in that local market and never asked the appraiser to provide samples of work they have performed in that local market.

It's nothing more than CYA.
  #6  
Old 08-14-2009, 05:18 AM
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It's nothing more than CYA and a "guidance warning" to those who:

a. had never read Certs. 11 & 12
b. still don't understand what they sign their names to
c. don't really care.
d. provides clear, concise, ammo for LSI Lender Client
SARS reports and incompetence complaints to State Boards.
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Last edited by Mike Kennedy : 08-14-2009 at 06:44 AM.
  #7  
Old 08-14-2009, 06:39 AM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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One of the things I added to my USPAP classes is about an hour of time devoted to going over the certifications for a form 1004 appraisal report. I am amazed how many have never actually read what they are signing.

Would make a good CE two hour program too.
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  #8  
Old 08-14-2009, 06:48 AM
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Quote:
Originally Posted by Mike Garrett, RAA View Post
One of the things I added to my USPAP classes is about an hour of time devoted to going over the certifications for a form 1004 appraisal report. I am amazed how many have never actually read what they are signing.

Would make a good CE two hour program too.
I agree and suggest both the new course AND the USPAP courses be Tested courses with a minimum 90% passing grade. Perhaps then sleeping, 92 smoke breaks, and 22 "be right back gotta take this client call in the parking lots" will become dinosaurs. One can always hope.

(* not referencing Mr. Garret's courses specifically, only a general observation)
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  #9  
Old 08-14-2009, 07:29 AM
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Ariba Ariba is offline
 
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Quote:
Originally Posted by Mike Garrett, RAA View Post
If for any reason you cannot legitimately claim specific geographic and property type competency in this market, please notify LSI immediately.
What is the criteria of competency and who's definition?

Competency is fundamental knowledge, ability, or expertise in a specific subject area or skill set. For example, an individual who becomes licensed or certified appraiser is said to have a competency in appraising those properties that they are licensed for.

What about Market Competency, if you live in the City of Colorado Spring are you competent to appraise in Manitou Springs, Fountain, Monument? What about Woodland Park, Pueblo, Castle Rock. Who is to determine your competency?
  #10  
Old 08-14-2009, 08:22 AM
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Terrel L. Shields Terrel L. Shields is offline
 
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Quote:
I am amazed how many have never actually read what they are signing.
I can believe that.

The issue is that USPAP allows you to gain competence by educating yourself or associating with an appraiser who is competent to complete the assignment. But you are supposed to notify the client of your deficiency once you know it. AND, the big issue again is appraisers serve two masters - USPAP and Fannie mae.

Fannie mae's certifications are onerous because they step out beyond USPAP time and again. I suppose that is their perogative but it is also a trap. I am becoming a conspiracy nut because I keep seeing so many conflicts.

Our MLS now will not report concessions. So where do we get that info? The same government that mandates we identify and adjust for concessions is the same government that now is telling everyone that they cannot "disclose" so-called "personal information".

Lack of access to concessions is an invitation for the NAR (again I am not sure they aren't behind this move to get concessions out of the listings) to re-inflate prices via fraud. They can now list higher with the seller giving the buyer sufficient money to make the downpayment so that the lender will 'do the deal' and no one will be the wiser.

We're screwed.
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