Complaints filed against appraiser Has anyone been in front of the board?

[Salty]

This is exactly why appraisers need to know their worth and not work for low fees. This is the portion of the fee formula attributable to liability. Exactly why $300 for a 1004 doesn't cut it. You never know when you will have to deal with this nonsense.

 

[alebrewer]

This is exactly why appraisers need to know their worth and not work for low fees. This is the portion of the fee formula attributable to liability. Exactly why $300 for a 1004 doesn't cut it. You never know when you will have to deal with this nonsense.

I'm not one to tell someone else what they should charge, but I absolutely agree that the 'work' is only part of the fee. The SIGNATURE is very valuable as well... maybe the most valuable part of the report.

 

[George Hatch]

how many times have we been told to make sure you define the client. wtf for?

How many times have you been told that the reason to identify use/users is so that a reader can understand which expectations apply? If I'm doing an appraisal for W-F then THOSE are the expectations in play, not what might apply for a different lender or a different type of use or user.

This prevents readers from applying a measure to your work that you weren't trying to meet. It prevents them from getting away with saying your report was deficient because you didn't meet some other user's quirks. (which you had no way of knowing who or what beyond your original use/users)

It was never about avoiding responsibility for what you did or providing cover for lying, cheating or stealing in an appraisal report.

 

[djd09]

impartial means treating all parties equally. do the borrowers add assignment conditions? so try again.

 

[djd09]

maybe the borrower can order their own appraisal instead of letting the agents of the lenders talk them into doing their dirty work

 

[djd09]

and more lecturing from a poster who doesn't even do gse. must be nice to talk down without doing, eh? now go back and edit.

 

[George Hatch]

and more lecturing from a poster who doesn't even do gse. must be nice to talk down without doing, eh? now go back and edit.

You are being completely stupid about this.

Intended use/intended user are USPAP concepts, not GSE concepts.

 

[George Hatch]

impartial means treating all parties equally. do the borrowers add assignment conditions? so try again.

maybe the borrower can order their own appraisal instead of letting the agents of the lenders talk them into doing their dirty work

Of course borrowers can engage appraisals for their own uses and per their own expectations for "meaningful and not misleading". Nobody has ever suggested otherwise.

Of course, the lenders aren't allowed to use those appraisals but what do you care? All that matters to you is to somehow find a way to make a living at appraising without having to work for AMCs.

 

[Mejappz]

While I agree that clearly stating who the intended user is will not insulate you from a third-party filing a complaint with the state, a competent state board(yes, I know they don't exist). Would look at the complaint and consider the party making the complaint. And because the report was not prepared for them specifically, they should drop the case.

Instead, they use the third-party complaint to go on a fishing expedition to rip the appraiser apart. It's like these "independent" counsels set up by the swamp. No evidence on the initial investigation? We must scramble and find something to save face. Most of the boards are highly politized, and some have conflicting interests.

 

[glenn walker]

There is so much dis-information on this Forum - First off State Boards do not and are not Judges-or Juries who award damages to a person who files a complaint. The State Boards are administrative who are much like a police officer who gives you a Citation for speeding. USPAP is the administrative tool used to determine if the appraiser complied or did not comply !!!!--They can determine the appraiser failed to comply with USPAP but never award Damages to a complainant.. If a Person who files a complaint feels they were damaged financially they have to sue the appraiser in a Civil Court and prove what damages they suffered.