The New USPAP

[Fernando]

I admit I haven't taken the most recent USPAP course. Every two years, it's the most dreaded painful class I have to endure.
Why 7 hours of my life? Because it wasn't meant to be easily understandable.

 

[andrew81]

In this thread, literally about "The New USPAP", you made 17 posts about how bad it is, then in your 18th post admit to not have taken the required update course.

 

[Tom D]

is the question, do you need USPAP constantly, or do you just make bad appraisals. from my review work, it was bad appraisal work. USPAP could not help them. laws are made for the good people who follow them. i'm not sure the good appraisers here need USPAP class more than once. any changes can be a few page print out. but then, i actually don't think most appraisers have read the full FHA handbook, once was enough though. good appraisals were still good before USPAP was inflicted.

 

[sputnam]

Can you look?
The PREAMBLE starts on pg1
SR2 ends on pg what?

Knowing the page numbers... being able to cite chapter and verse from memory... is not important. Knowing and understanding what you must and must not do in the development and reporting of appraisals is.

 

[sputnam]

When I was younger, there was a fellow appraiser who go in trouble with the real estate board.
I didn't ask him about the details but he knew the Standards very well from the obtuse USPAP back. Must have learned the hard way.

"The hard way". You mean he read the Standards and maybe actually paid attention during USPAP class?

 

[sputnam]

I appreciate your knowledge but like many other appraiser (my peers), they can't easily find the answer in USPAP. And that's USPAP fault.

I couldn't disagree more. The USPAP document as well as the AOs and FAQs are well indexed. Try using it.

 

[Dale Floyd]

This happened a long time ago. I can't see it happening that way these days. TBH I don't think appraisers should even get criticized over an opinion. When I review I never hassle opinions. I go for the facts. If the facts are straight then the results almost can't be unreasonable.

When I read these summaries the reasons being given are clear cut and don't involve subjective opinions.

Just an interjection. USPAP is not the only set of standards we must adhere to. Within USPAP we find that the Scope of Work includes the assignment conditions of the client.

Photos and many appraisal exhibits are not required by USPAP yet I am aware of USPAP violation accusations made by state boards directly caused by the photos and exhibits included.

The Interagency Guidelines are not directly mentioned by USPAP, yet we must adhere to them as well for lender assignments.

FHA guidelines are not directly mentioned by USPAP, yet we must adhere to them because of our scope of work rules.

The list can go on. To make errors in the assignment conditions, is a USPAP violation indirectly. A ton for us to keep up with.

 

[sputnam]

If USPAP was easy to understand, AMC would not have sent me the order.
AMC thought I was qualified. If declined. I wouldn't be surprised if another CR accept the order.

'Nando.... that's one of the most asinine things you've ever posted. AMCs do not have to comply with USPAP... Appraisers do. The fact that you hold an appraiser certification from the state is an indication that you have received training in USPAP. This issue just seems to be something else that you'd rather whine about than do the work to become knowledgeable.

 

[andrew81]

This is directed to anyone claiming USPAP is too long and complicated to follow.

USPAP is a very simple and easy to follow document.

As a certified appraiser, all of your reports certify that you have read and follow USPAP.

Every two years you take a USPAP update course.

I'm sure, in a profession that requires you to follow the standards you certify to follow, you can find time to understand the content from the Definitions through Standard 2, its only 24 pages.

It took me 15 minutes to read these sections and type the following summary. You have time to read USPAP and follow it.

Definitions: just read them

Ethics rule: don't be an a**hole, be independent, don't be a liar, don't take bribes, be confidential

Record keeping: make a workfile and keep it for at least 5 years plus 2 after disposition

Competency: be competent, acquire it, or withdraw

Scope of work: what does the client want, what steps can you take to meet their needs, report what you did

Jurisdictional exception: follow State Rules and disclose it in the report

 

[djd09]

USPAP is so bad....that the state boards thought due dates were a violation