The New USPAP

[Terrel L. Shields]

Why are you constantly in search of the arcane exception to the rule,

Because that is what gets you sanctioned. That's what gets you sued. You live in La-La land if you don't have a board that will punish, or at the very least, thoroughly investigate the slightest offense no matter how unrelated and remote from the complaint. In court, it can be even worse. The predictable are not often the situations that come back to bite you.

I knew an appraiser sent to the board over an appraisal. You expect the other side to do so. But the complainant also filed a complaint over her own 2 appraisers. So, all 3 got to face the board. Were there errors? Yes. One of the 3 had the temerity to die before the hearing. We also had a complaint filed against a lawyer-appraiser who countered, and the board ended up paying him $4,000 PLUS agreeing among other things that they would not investigate anything beyond the state Statutes of Limitations which the courts said was applicable to the case. The regulators (ASC) had a hissy fit and wanted the board to get the SoL changed!...

 

[Charles West]

USPAP made it too legalese and later Comments and Advisories for interpretation. That's not right.
I take that back. Legalese is more precise in its language with terms clearly defined.

Seriously Fernando, take a weekend with the new USPAP all by yourself. Study it and take lots of notes. I remember I read it the first time on a houseboat in Frank's tract on the Delta while I was fishing. It will take about 10 hours of studying to fully grasp all the details.

 

[andrew81]

30 years with update course every other year, that's 105 hours of course study. I don't think another 10 hours will make any difference.

 

[Charles West]

30 years with update course every other year, that's 105 hours of course study. I don't think another 10 hours will make any difference.

I don't think he's done the first 10 hours yet.

 

[George Hatch]

Because that is what gets you sanctioned. That's what gets you sued. You live in La-La land if you don't have a board that will punish, or at the very least, thoroughly investigate the slightest offense no matter how unrelated and remote from the complaint. In court, it can be even worse. The predictable are not often the situations that come back to bite you.

I knew an appraiser sent to the board over an appraisal. You expect the other side to do so. But the complainant also filed a complaint over her own 2 appraisers. So, all 3 got to face the board. Were there errors? Yes. One of the 3 had the temerity to die before the hearing. We also had a complaint filed against a lawyer-appraiser who countered, and the board ended up paying him $4,000 PLUS agreeing among other things that they would not investigate anything beyond the state Statutes of Limitations which the courts said was applicable to the case. The regulators (ASC) had a hissy fit and wanted the board to get the SoL changed!...

Again, people at the boards being incompetent is a CURABLE deficiency, and in any case isn't attributable to the material or the licensing system itself.

And the question still remains, replace it with what? Skynet? Because apart from letting the machine call the shots we're never going to get to a human-free source of appraisal standards.

 

[Fernando]

Seriously Fernando, take a weekend with the new USPAP all by yourself. Study it and take lots of notes. I remember I read it the first time on a houseboat in Frank's tract on the Delta while I was fishing. It will take about 10 hours of studying to fully grasp all the details.

Are you crazy? 10 hours?
If written right and to the point, should be less than 1 hour to get to the main points.
Additional comments and opinions are less important but to read while fishing.

 

[Fernando]

You do see how the Nondiscrimination Section in the Ethics Rule put us in a higher standard in which appraisers can be sued.
CA has a mandatory bias/cultural awareness class and is less threatening to our appraisal practice.
USPAP's nondiscrimination section states appraisers CAN NOT reference code words or any reference or "pretext" that may seem racially motivated.
Appraisers are put on alert and better be Woke.

 

[George Hatch]

If you learned anything from this antidiscrimination revision then you were previously underinformed.

 

[Charles West]

Are you crazy? 10 hours?
If written right and to the point, should be less than 1 hour to get to the main points.
Additional comments and opinions are less important but to read while fishing.

It took me about 10 hours initially if I recall correctly, 3 days over the 4th of July way back in the day, then add the time to take the required update courses for whatever many years? I loved the required class time for USPAP as it was networking time for me, a good time to pick everyone's brains about other things, see what they were doing, gossiping about how screwed we were with no AI in sight for 20 years, having to manually graph everything and how ****ty it was and whose client connections I could hear about. I honestly read it thoroughly maybe twice and didn't focus on the change minutiae so much but kept with the spirit.

 

[Fernando]

When I started my appraisal career, I would use terms like "desirable neighborhood" and "homogenous neighborhood" and such.
I think I still use terms like "well maintained" and "good curb appeal" and I think those are not politically correct.
USPAP and Fannie needs to have a list. I can't read their mind.