Gated Community

[David Mescon]

FNMA forms are so full of holes and contradictions it would not be difficult to argue the necessity for deviation from preprinted SOWs and certifications. On the best of days, these forms could be considered to be at least obfuscative, and at worst, actually deceptive. A competent appraiser could punch enough holes in any of these forms to get any jury to agree they're a joke - they look like they were written by high school kids.

 

[J Grant]

Let's not forget... calling a realtor acquaintance and making arrangements to see an active listing in the project. No problem with just adding a peek at another property or two while we're in there with permission.

Assuming an appraiser has a realtor friend who is eager to let the appraiser in under false pretences ( viewing a listing). And that is assuming the guard does not insist the realtor be present. I don't think appraisers need to make false pretence efforts to see a property. Either then can get in under the conditions of an assignment, or they can't. I have occasionally followed a car though a non manned gate and even parked outside and walked in through a footpath. But I did not lie my way in. Esp with a review appraiser, to lie is not a good way to start the report. I doubt I will ever follow another car in again, as a few months ago a roving security guard caught me and wrote my license plate number and said he was going to report me to the police.

I don't think clients want appraisers entering communities under false pretenses. I am very uncomfortable with it and think appraisers who do that are just feeding into a perception of appraisers , that they are not honest. Either you can get in a gate under legit terms, or you can't. I have asked realtors to meet me at gates and have asked for gate codes under the proviso I am an appraiser going to do an appraisal, not a realtor looking at a listing, not there to do a BPO, not whatever the lie of the day is supposed to be.

I know you meant well be trying to get in to fulfill an assignment, but imo appraisers are treated badly because they act so over eager to do things like this. Realtors for all their faults don't lie their way into communities by saying they live there or are there to do a home inspection etc. There is a lot of liablity driving around these private communities. If you hit a kid with your car and it is discovered that you lied your way in under false pretenses, or entered after another car ( a lot of these entry gates have hiddden video surveillance), kiss everything you own goodbye.

 

[Smokey Bear]

I don't think clients want appraisers entering communities under false pretenses.

Lying to get in is a lot less 'bad' than lying on the certification, in my book. But like I said, you do it your way, and I'll be happy to watch the board hearing.

 

[J Grant]

For the zilionth time, I am not "lying" on the form about the certification. If I could not get access to photograph, I disclose it in bold big letters on the front page, not hidden in the addendum. I have been appraising 19 years and have done numerous reviews as well as origination appraisals and have never had a board problem. In fact, one appraiser last year challenged my review and the board upheld my review. Hope you have other people to watch at board hearings with your popcorn!

 

[444nutman]

I had a review within the last 6 months , where I could not get in through the gate for the subject and 2 of the comps. This was a small townhouse project. I could see the subject and two comps from in between the bars of the closed gate. 2 comps were less than 5 townhouses in on either side of the entrance road behind the gate. The subject was about a block away on the T section of the entrance and it's street. I did not view the subject from its street but could zoom onto the address on the side of the townhome with my camera. So had a full view of the subject from the gate.
Can someone define street? Did I violate the certs because it was not the subject's street but the subject's street formed a T with the entrance street. The subject could be seen from the entrance gate whose street is a different name. I took pictures of all 3 thru the gate. I must have looked pretty goofy doing it. I also waited about 15 minutes to gain acess.

Cliffs version.
Could see all 3 comps from the gate.
Subject on different street but could still be seen from said gate.
Did I violated the cert which say view from street? Does street have to be subject street? I also disclosed in report all three comps were seen from outside the gate.

 

[JSmith43]

Let's not forget... calling a realtor acquaintance and making arrangements to see an active listing in the project. No problem with just adding a peek at another property or two while we're in there with permission.

An ambulance with flashing lights and a siren would probably work as well, unless it had Ghostbusters painted on the sides.

 

[Dale Smalley]

The problem in doing forensic reviews is that no one is giving you permission to enter the complex. It is up to the reviewer to to get in and inspect the subject. There is to be no contact with the owner. So how do you get in without some deception?

 

[hastalavista]

Can anyone point out to me were it is stated that the pre-printed SOW in the form 2000 cannot be modified, deleted, or amended?

Yes, I know it is in the origination reports (1004, etc...) but where does it state that in the pre-printed review forms?

 

[Smokey Bear]

So how do you get in without some deception?

From the OP, it sounded like it was an REO? Then the bank would have the right to access.

 

[23Degrees]

Can anyone point out to me were it is stated that the pre-printed SOW in the form 2000 cannot be modified, deleted, or amended?

Yes, I know it is in the origination reports (1004, etc...) but where does it state that in the pre-printed review forms?

Denis, no one can do that as the more stringent language present in the origination forms is not present in the review forms. While that is the case it is still advisable to take some pause prior to working pdf magic on the review forms with regard to certifications and SOW due to Fannie's policies as it relates to her legal documents, a category that includes the appraisal forms. Her policy as to modification is:

"Reproducing Fannie Mae Legal Documents

Users may reproduce any of the mortgage documents under the user's company name or logo (or without an identifying company name or logo), but the text should NOT be altered except as authorized in the Instructions document." (my bold)

She goes on to say that any unauthorized changes results in the document being considered "non-standard". "Non-Standard" documents require non-standard document warranties by the lender. It could be that altering the form language, even on the review forms, has the potential for bringing on slings and arrows from Fannie, the client, or other parties if it is not done in a completely proper manner and accompanied by any appropriate warranties from the lender. If an altered scope or cert slips past everyone who should be paying attention it could result in a conversation that most of us would prefer not to have. Or Not.... but unless one acquires absolute confirmation for any specific issue it stands as a high risk proposition.

Here is the link if anyone wants to look for themselves and double check my interpretation: https://www.efanniemae.com/sf/formsdocs/documents/index.jsp