Supplemental Standards Rule Elimination

[CANative]

It is my opinion that the elimination of the SSR actually relagates all such guidelines and requirements to the same level as all other client requirements and does not put GSE's and others in a greater position than any other client.

One of the points/concerns I was trying to make was just the opposite. Does the elimination of SSR put any old broker or hack lender in a position as high as a GSE? The GSE's at least publish. Brokers and hacks do not.

 

[Don Clark]

One of the points/concerns I was trying to make was just the opposite. Does the elimination of SSR put any old broker or hack lender in a position as high as a GSE? The GSE's at least publish. Brokers and hacks do not.

Greg,

We are saying the same thing. You are coming from one side of the issue and I am coming from the other side. It is my opinion that before I will do any work for any client, I want to know what their their guidelines/requirements are. That is the appraisers responsibility to find out. Intended use and intended user as described in the SOWR.

 

[CANative]

Most of the time brokers don't know where they're going to send the loan. Sometimes they will submit to multiple lenders. With SSR we could make the appraisal with a SOW which meets the published requirements of a certain user type which exceeded the USPAP minimums (otherwise it wouldn't be an SS). There are a very liminted number of GSE's and government agencies and it's easy to stay on top of their requirements. With the SOWR we're left to blow in the wind unless we have every lenders requirements before starting an appraisal.

 

[robert higgins]

Brad,

Can you attached your published Guidelines/Requirements for all of us to save in our computers?

If you dont mind can you invite all your Chief Buddies to post all their Guidelines/requiremts also!

Don't they post their Guidelines/Requirements for appraisers on their front page of their website?

 

[Marcia Langley]

Most of the time brokers don't know where they're going to send the loan. Sometimes they will submit to multiple lenders. With SSR we could make the appraisal with a SOW which meets the published requirements of a certain user type which exceeded the USPAP minimums (otherwise it wouldn't be an SS). There are a very liminted number of GSE's and government agencies and it's easy to stay on top of their requirements. With the SOWR we're left to blow in the wind unless we have every lenders requirements before starting an appraisal.

Greg,

If the client does not give you any special instructions you can only assume that he doesn't have any. You will not be required to 'know' unless they tell you.

The guys that don't know who they are going to sell the loan to have no recourse if they don't give you special requirements at the time of placing the order.

If they can run their business without tailoring appraisal requests to a certain investor's guidelines then why should the appraiser worry about it?

That's the way they do it now. I don't see how that will change later.

 

[CANative]

Don wrote:

before I will do any work for any client, I want to know what their their guidelines/requirements are. That is the appraisers responsibility to find out.

Marchia wrote:

If the client does not give you any special instructions you can only assume that he doesn't have any. You will not be required to 'know' unless they tell you.

Steve wrote:

Other things it might turn on are, the preconceived notions, biases and emotions of the person doing the judging.

I'm writing:

With SSR the only groups that could "officially" USPAP the appraiser into going above minimums were the GSE's (etc) and their policies were well documented and easy to research. Now every Tom, Dick and Harry has that power and their policies are not well documented nor easy to research.

 

[Marcia Langley]

Greg,

I know I'm being dense but I'm just not understanding your concern.

How will our obligations/responses to client conditions change after the first?

They can still set conditions on the assignment and we can still either agree to them or not and accept the order or not and if we accept it strive to comply with it.

What changes after the first?

 

[Marcia Langley]

Now every Tom, Dick and Harry has that power and their policies are not well documented nor easy to research.

Are you saying that you think a client can impose a condition without telling you about it? I'm not being smart or silly but that's what it sounds like you are saying.

 

[CANative]

Marcia.. You're not being dense. I'm just yapping. Trying to stir the pot, so to speak.

 

[CANative]

Are you saying that you think a client can impose a condition without telling you about it? I'm not being smart or silly but that's what it sounds like you are saying.

Yeah. That's kind of what I'm saying. Can we still tell a client/lender/user to go pound sand if we don't want to comply with their after-order conditions?