01/28/22 elearning ANSI: Fannie Mae's Lyle Radke at our free monthly webinar

[shrubberyvaluation]

You tell the lender and they reassign it to someone else.

Thats what I figured. Someone I knew got assigned hybrid appraisals for full fee for a full appraisal. I'm not sure what the point is, I guess they had trouble getting someone to do them. Actually being at the property feels so much easier to me than trying to piece it together based on pictures and 3rd party information. If someone appraises a property that is undermeasured who is going to be liable for the "low ball" appraisal. Can these inspectors just churn through these with no liability?

 

[CGinMN]

Can these inspectors just churn through these with no liability?

They don’t have any licensing or ethical obligations, they don’t sign any type of certification, so yeah that is my understanding.

 

[djd09]

geez. l learned nothing. 7 foot second floor is a joke. i heard one them mumbling about the 'market' data. well not in my market. did they talk about LC 2?

this whole basement concept is 100% incorrect. they wont quote this one.

anyways, obey.

 

[shrubberyvaluation]

geez. l learned nothing. 7 foot second floor is a joke. i heard one them mumbling about the 'market' data. well not in my market. did they talk about LC 2?

this whole basement concept is 100% incorrect. they wont quote this one.

anyways, obey.

Yep, it should be based on the market. Most people are not 6'6"+. Yao Ming is most likely not representative of the height of a typical buyer. What about in an area where the typical buyer is Asian such as a Chinatown. Asians tend to be shorter on average I believe.

 

[djd09]

Yep, it should be based on the market. Most people are not 6'6"+. Yao Ming is most likely not representative of the height of a typical buyer. What about in an area where the typical buyer is Asian such as a Chinatown. Asians tend to be shorter on average I believe.

and what about the people over 7 feet. doesn't their height matter

 

[sputnam]

Pretty easy solution. Don't take classes from people you don't respect. Don't take classes that you don't think will provide you with quality education.

 

[ramrcdk]

I've never done a hybrid. I'm curious what people do if it appears it was not measured correctly. What do you do if tax records are 3,000 Sq.Ft. GLA, inspector's sketch (which doesn't look right based on photos) is 2,500 Sq.Ft. Do you use the tax record GLA: NO instead of the inspectors? YES: Do you use the inspector's GLA? Do you turn it back to the lender due to data being unreliable? What NOT ask the Client. THEN : Disclose & CYA away!!!

From the Fannie Answer Man: "you use what you have been provided: The Inspector's Part A Report."
AND THEN CYA CYA CYA
Thoughts for the Disclosure: Limitations & Liability

 

[ramrcdk]

Thats what I figured. Someone I knew got assigned hybrid appraisals for full fee for a full appraisal. I'm not sure what the point is, I guess they had trouble getting someone to do them. Actually being at the property feels so much easier to me than trying to piece it together based on pictures and 3rd party information. If someone appraises a property that is undermeasured who is going to be liable for the "low ball" appraisal. Can these inspectors just churn through these with no liability?

GREAT QUESTION!!!

 

[shrubberyvaluation]

From the Fannie Answer Man: "you use what you have been provided: The Inspector's Part A Report."
AND THEN CYA CYA CYA
Thoughts for the Disclosure: Limitations & Liability

I can see clients questioning a refinance that is lower than an open market purchase of the property from a year ago when prices have increased (due to being given bad information from the inspector's part A report rather than the owner vastly paying over market). I don't want to be canned because inspector's part A report gave me bad information.

 

[Alsie35]

I found an email with a link to this video in my inbox this morning. Enjoy (I'll watch it later). Got to hand it to these guys - funny way to bring it up.

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Introducing Caffeinated Appraisals!​

Consolidated Analytics' Division President, Chris McLain and Chief Appraiser discuss the ANSI requirement in this first-ever episode of Caffeinated Appraisals!​

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