Freddie Mac vs Appraiser Bias

[Sadie]

Critical? So critical that USPAP has never required it, and formal training on property inspection has never been a requirement for licensing/certification.
You have data that shows that personal inspection by the appraiser is critical? Or, just a belief?

You may need to re-read Standard 1 and AO2. USPAP - Standard 1-2 (e) and Standard 2-3. " An inspection is not required by USPAP, but one is often conducted. While an inspection is not required, appraisal reports...must contain a signed certification that clearly states when the appraiser has or has not personally inspected the property." The Scope of Work Rule 1-1(a) also covers this. If you are a residential appraiser who does lender work you absolutely need to be able to competently perform a physical inspection.

 

[George Hatch]

You may need to re-read Standard 1 and AO2. USPAP - Standard 1-2 (e) and Standard 2-3. " An inspection is not required by USPAP, but one is often conducted. While an inspection is not required, appraisal reports...must contain a signed certification that clearly states when the appraiser has or has not personally inspected the property." The Scope of Work Rule 1-1(a) also covers this. If you are a residential appraiser who does lender work you absolutely need to be able to competently perform a physical inspection.

None of that contradicts the statement you are responding to.

 

[djd09]

the same users abusers that passed out and accepted millions of no doc loans how did that work out

 

[djd09]

the inspection is so critical , the same dum dums want it measured to the inch

 

[DWiley]

You may need to re-read Standard 1 and AO2. USPAP - Standard 1-2 (e) and Standard 2-3. " An inspection is not required by USPAP, but one is often conducted. While an inspection is not required, appraisal reports...must contain a signed certification that clearly states when the appraiser has or has not personally inspected the property." The Scope of Work Rule 1-1(a) also covers this. If you are a residential appraiser who does lender work you absolutely need to be able to competently perform a physical inspection.

I appreciate your confirmation that inspection is not required by USPAP.

Yes, by necessity, a personal inspection has been commonly conducted. For decades photos were commonly taken with a camera that used film and reports were delivered on paper. As technology changes the things that were formerly common and/or necessary also change. And I can tell you from first hand experience, because I was an appraiser when both of those changes happened, many appraisers resisted those changes as well. Heck, I remember the uproar when my firm bought forms software - the appraisers could not fathom typing their own reports.

 

[Zoe]

I believe that the bottle neck occurs at the point of inspection....
Most, if not all, appraisers want to bundle as many inspections in the same place on the same day...
So they'll put off an inspection until they can bundle 2 or more inspections....

I disagree.

 

[Zoe]

Critical? So critical that USPAP has never required it, and formal training on property inspection has never been a requirement for licensing/certification.
You have data that shows that personal inspection by the appraiser is critical? Or, just a belief?

Okay, are your inspectors licensed and bonded that are not licensed appraisers? You will not win this argument with me. You can say intended use and user all you want. The appraiser is the best source for the inspection for the intended use and user because they are licensed and insured.

 

[ucbruin]

For those who disagree that in 2020 and 2021 that the bottle neck was the inspection...
What was the bottle neck in your opinions....

 

[Zoe]

Bias has a huge roll in this equation for the licensed appraiser and the can collector and public trust and the liability. It's absurd that after zillions were spent on taxpayer dollars to bail GSE's and lenders out.

Now they want fastest and cheapest. Absurd.

 

[Tiffany Gibbons]

For those who disagree that in 2020 and 2021 that the bottle neck was the inspection...
What was the bottle neck in your opinions....

The AMC trying to get the lowest bid. My opinion only of course.