Unintended consequence of reviews

[DTB]

If you were running a shop and one of those reports had problems the first step would be to correct the problem appraisal. Not send the appraiser up to the state. If the problem continues then your next step is to cut the appraiser off so you won't have to deal with the same problem over and ov

True, if you're an appraiser running a shop.

Really, that's how the lenders should be handling appraisers. The appraiser is being paid to perform a service to specs. Until that service is performed to specs the fee has not been fully earned. If the appraiser WON'T clean up after repeated examples of the same problem then it's time to disengage.

If only lenders knew what was and wasn't required to be USPAP compliant.

 

[Zoe]

None. Ask DW.

DW could tell you but I have heard GSEs have turned many in. And if it is like fraud, I understand, but I would think a GSE would send the appraiser a letter and say you need to take this class or we are not going to accept your appraisal. I would also think they could send an AMC a similar letter.

This is the reasoning for our request....................................

 

[Zoe]

I am not worried about reviewers. I can handle a reviewer. I know the subject better than them.

If they want clarification, no problem with me. Some of them are stupid.

I made some bad mistakes on one this past week and was in a hurry. I was praising the reviewer. I was wrong on my comments from cloning.

All I had to change was my comments. The analysis and final opinion of value was solid.

I was like thank you so much. This reviewer was not stupid like I was. LOL

GSE could do that protocol like you need to work on this. Take this class.

Some people sleep on a report and review it again the next morning before they send it.

 

[timd354]

Some appraisal boards... maybe all of them... are required by law to investigate every complaint that gets filed. Depending on the number of qualified investagators, funding, and the number of complaints, it could take a while to slog through the workload. You are correct though, an opinion of value that doesn't meet someone's expectations isn't a USPAP violation.

You should probably look at the applciable laws and regualtions of your state (North Carolina) before asserting what those laws and regulations actually require. If you had done that, you would have learned that the applicable NC regulations not only do not require the board to investigate every complaint, but actaully gives the board discretion to review the complaint and determine whether it should be investigated and mandates the board to dismiss the compalint if it does not appear that there has been a violation of USPAP or other applicable rules (see below). Thus, the NC Board certainly has the power to summarily dismess a complaint that does not allege any conduct that could be cosnidered to be a violation of USPAP or other applciable NC rules. Hopefully, the board uses this discretion to actually summarily dismiss any susch complaitns without bothering the appraiser who is the subject of the complaint.

 

[George Hatch]

I don't think his reference to "investigate" was limited to opening a case on the licensee and picking through the entire report. Just vetting the complaint for an actual allegation requires someone to perform some problem identification.

"We received the complaint, we saw it, we read it, we looked for an allegation but we didn't see one. We have no basis to proceed any further." ​

 

[Joyce Potts]

I never had a complaint filed by a lender. The boards do accept 'value' complaints and complaints with personal vendettas, even if the 'claim' they don't.

They accept but when they send them out to be reviewed, the $$ amount is not opined to, at least in Florida. It's about Std 1 and 2 compliance.

 

[Joyce Potts]

People erroneously use the terms accept a complaint, investigate, etc. I can only speak to Florida, but no review I was ever asked to review from the State EVER asked me to opine to value, in fact, they were explicit to NOT opine to value.

 

[Mark K]

Wonder how many independent appraisers, that complete a review for a lender, turn in the report to the state?

I've turned in 4 in my career, 2 CRs and 2 MAI's. Problem with this state is that they keep most disciplinary actions confidential so you never know if you wasted your time or not.

 

[Joyce Potts]

I've turned in 4 in my career, 2 CRs and 2 MAI's. Problem with this state is that they keep most disciplinary actions confidential so you never know if you wasted your time or not.

Not every state works like that.

 

[alebrewer]

You are years behind the curve. It's not a PIA to file a complaint and a lender or anyone can file one anonymously.

Maybe in FL. Certainly not in Texas.