3.6 Crunch Time

[djd09]

now we are liars...and racists i cant stop laughing

 

[Surf Cat]

The profession has no control over user choice and discretion. Not now, not ever in the past. The users have never worked for the appraisers, the appraisers have always worked for the users whether directly or indirectly. We are not their partners. It is not a relationship between peers.

We only control what we do. I honestly don't understand why any appraiser would believe otherwise.

You keep stating what the appraiser's roles are, USPAP, Etc. You have a "stay in your lane and don't complain" mentality.

Half of us here as you say, have a problem with the rules for thee and not for me changes to the laws that.....lenders have to follow. Sure....lender's can choose among the allowed evaluation products. However, they cannot simply ignore the appraisal regulations and replace required appraisals with whatever is cheapest or fastest.

No, appraisers don't control lenders choice. Lenders are not our peers or partners. But lenders rules and laws regarding appraisals, still exist. Just because they have oodles of money to Lobby with, doesn't mean they can ignore them.

 

[glenn walker]

You keep stating what the appraiser's roles are, USPAP, Etc. You have a "stay in your lane and don't complain" mentality.

Half of us here as you say, have a problem with the rules for thee and not for me changes to the laws that.....lenders have to follow. Sure....lender's can choose among the allowed evaluation products. However, they cannot simply ignore the appraisal regulations and replace required appraisals with whatever is cheapest or fastest.

No, appraisers don't control lenders choice. Lenders are not our peers or partners. But lenders rules and laws regarding appraisals, still exist. Just because they have oodles of money to Lobby with, doesn't mean they can ignore them.

They can and do but their driving the car and your the rear seat..lol

 

[chad hampton]

Unfortunately, USPAP has a recent history of bending over backwards and making revisions to permit whatever their revaa partners want. As has been pointed out numerous times.

The USPAP nda folks get their feelings hurt when someone calls out taf or their golden book for what it really is.

Shouldn't put unethical folks in charge of creating a book on ethics.

 

[HVNY]

I just keep wondering if they are applying outdated tech to current day hardware and networking? I'm not a tech guy.. I mean aren't zip folders about at least 6 years ago? UAD will be delivered as zips?

 

[Surf Cat]

They can and do but their driving the car and your the rear seat..lol

More like hanging on to the bumper being dragged....

 

[djd09]

look at the 15th st parties...then they said measure the ceiling heights gtfoh

 

[George Hatch]

Well, your expectations are really low. They are devoid of any ethical consideration of others whatsoever. Let's keep borrowers out of the picture, since they are not professionals.

RE agents have a code of ethics. USPAP has a section of ethics. The GSE's have a stated mission of public trust. So yes, it matters. Ethics violations allow members of the public, whether right or wrong, to pursue grievances. Lenders have fair housing laws. Business does not take place in a faceless void. Decisions have consequences.

Again, if the lenders in these transactions were lending their own money, or if the GSEs were lending their own money, we would have no right to have a say in it.

Some parties in different segments of the RE food chain do voluntarily act more ethically. When most of a society looks the other way, or rewards bad behavior, it leads to a breakdown. We saw it in the last housing market collapse. We see it every day in greater or smaller ways. America did not get to a nearly 40 trillion debt by leaders acting ethically with regard to the welfare of our citizens.

You're talking about what you want. What you think "should be"
I'm talking about what I see of their conduct. What I think "actually is". I think even you can understand the difference between the two.

 

[George Hatch]

Your NDA friend admitted it was removed.

And I have it highlighted in a prior book.

AO isn't USPAP. AO was never USPAP. And even if it was USPAP the idea itself is inconsistent with how appraisers have performed assignments in the past without performing their own personal inspection. Which is why it was never included as a minimum standard for all appraisal practice in the first place.

Moreover, AO-5 "assistance in the preparation of an appraisal" deals specifically and explicitly references "assistants". Not to outside parties.

Here's a quote:

"Responsibility of Principle Appraisers and Competence of Assistants

The responsibility of the principle for the work of one or more assistants is inherent in most professions,. For example, lawyers use associates, paralegals and researchers but are ultimately responsible for the document presented to the client. Partners in accounting forms often rely on audit assistants and tax preparers but are ultimately responsible to the client for audit or tax return

As in other professions, the principle appraiser is responsible for closely supervising the work of assistants, for the training and development of assistants, and for exercising the judgement as to the level of work the assistant is capable of and competent to perform. The assistant in turn uses education, experience and work product performed under the direct supervision of the principle appraiser to achieve licensing, certification and/or professional designation.

Each assistant will demonstrate proficiency in various aspects of the appraisal process at differing time intervals during his or her professional development. for example, the new assistant with minimal appraisal or related education and experience cannot be allowed to perform any steps of the appraisal process alone without the guidance of a principal appraiser or more experienced assistant. In contrast, in the context of real property appraisal an assistant who recently entered the appraisal field but who has previous experience as a builder or real estate sales person may possess the knowledge and experience to adequately identify building materials, items of deferred maintenance and forms of obsolescence. Although this assistant may be qualified to complete the inspection of the real estate alone, he or she would not competent to relate the inspection to the appraisal approaches, and an inspection by the principle appraiser or more experienced assistant would be required.

"Assistant" in this AO is a direct and repeated reference all through the AO to a trainee working under the supervision of the appraiser and who is learning how to appraise. It is not a reference to an outside operator who is not being trained to appraise and who is not expected to do anything BUT inspect the subject. There is no expectation of appraiser education or experience, no expectation for any analyses opinions or conclusions. An appraiser using that report for their research will develop 100% of their own analyses opinions and conclusions from what amounts to an inventory list. They will not be relying on the can collector's role as an appraiser because the can collector is not acting in the role of an appraiser.

 

[Bobby Bucks]

Like the return of the swallows to Capistrano, one thing is predictable in here, however it’s daily and not yearly. If a thread title contains”3.6” it will get hijacked by the mutual admiration society of trolls, 3.6 defenders, Fannie simps and idle time blessed know it alls.