Hybrid Appraisals

[DWiley]

The whole idea that the Scope Of Work rule opened the door to a universe of report options was a mistake....

Anyone connecting the SOWR to reporting options is indeed making a mistake. The SOWR only addresses development; it has nothing to do with the reporting options.
A separate SCOPE OF REPORTING RULE was drafted and considered, but never adopted.

 

[George Hatch]

Anyone connecting the SOWR to reporting options is indeed making a mistake. The SOWR only addresses development; it has nothing to do with the reporting options.
A separate SCOPE OF REPORTING RULE was drafted and considered, but never adopted.

I always thought it made sense to run parallel requirements for development (fit the service to the use/users) and reporting (fit the reporting to the use/users). If for no other reason that prompting appraisers to make the distinctions between the two.

The form does not drive the development.

 

[chad hampton]

Anything that opened the door to Uber drivers performing appraisal services is going to be looked back on as a mistake.

 

[George Hatch]

Maybe.

 

[djd09]

who ever wrote the SOW should be exiled from the profession forever...

 

[George Hatch]

Do you understand how the DEPARTURE RULE worked before it was replaced by the SOWR?

No. You don't. You probably never even read it.

 

[djd09]

so you ask me a question and answered it yourself...that's pretty nuts

 

[DWiley]

who ever wrote the SOW should be exiled from the profession forever...

Nothing in USPAP has ever prohibited a desktop appraisal developed based on data collected by someone other than the appraiser. That was true before the SOWR - and after.
The only reason that personal inspection was required for GSE work was because the GSEs said so. After years of testing and evaluation, that position has changed.

 

[djd09]

paschal can collect all the data he wants...that doesn't change the requirement of not being misleading

 

[Surf Cat]

The GSE's and lenders have been chasing something less than a full appraisal report for years. This mess of PDR coupled with Hybrids are just the latest version of “less than.”

Agree. It's like taking your OBD scanner and clearing the check engine light code from your car..... without actually taking care of the problem that's throwing the code. The check engine light is just going to come back on in a few miles down the road.