Quality UAD

[Albert2]

I recently sent an appraisal to a lender with a Q4 on a comp. Unfortunately I rated the same comp a Q3 in an appraisal 8 months ago. Now I am being questioned on it by the underwriter. I understand this is my mistake. I just don't know how to explain it, as I feel it is a Q4, not a Q3, but I was wrong at the end of the day. The quality of all my sales and the subject look equal, but I need to make an explanation why I rated the sale differently in two appraisals. Any ideas?

 

[Mejappz]

Tell them you made a mistake, fix it. Then ask them if they have ever made a mistake in their personal or professional life.

 

[Dublin ohio]

What made you change your mind? Did you get more information on that sale that made you change your mind?

 

[Albert2]

What made you change your mind? Did you get more information on that sale that made you change your mind?

No changing of mind, I just did not realize I had put two different qualities in two different reports

 

[Albert2]

Tell them you made a mistake, fix it. Then ask them if they have ever made a mistake in their personal or professional life.

But I actually made a mistake on the first appraisal in June of last year. How do I rectify that?

 

[Dublin ohio]

No changing of mind, I just did not realize I had put two different qualities in two different reports

Let me put it another way. Why the different ratings. Was the mistake in the previous use a typo?

 

[Albert2]

Let me put it another way. Why the different ratings. Was the mistake in the previous use a typo?

 

[Albert2]

No, it was entirely my fault. I switch between Q3 and Q4 too much and need to stick with one or the other.

 

[Dublin ohio]

No, it was entirely my fault. I switch between Q3 and Q4 too much and need to stick with one or the other.

Got it. What were the subject Q ratings on the 2 appraisals. Just fishing for a way to help with explanation.

 

[Tom D]

no, no, no. forget the 1st appraisal, that loan has closed. nobody be happy to reopen it. Q3 like Q4 can have a range, or a mixture. i go back to putting it Q3, just say a typo you made. or it could be a Q3(-) or a Q4(+) and you forgot how you thought about it the last time. a comp isn't that big of a deal. and never admit a long gone mistake.