1973 Mobile-- Modular or Manufactured Which form to use

[Tim Hicks (Texas)]

Theoretically. However, in real life, Fannie/Freddie forms get used for non-lender appraisals everyday. No one cares.

Yes, lots of people care. It would be misleading to use a GSE form for a non-GSE property. You would have to do a lot of editing of every page to make it a non-GSE form. What is that pesky thing about misleading reports?

 

[DWiley]

It would be misleading to use a GSE form for a non-GSE property.

And yet appraisers do that every day (e.g., FHA, VA)

 

[sputnam]

And yet appraisers do that every day (e.g., FHA, VA)

Exactly right. Would it be better to not use a GSE form in the situation?... absolutely. Does USPAP forbid it?.... No.

 

[glenn walker]

Exactly right. Would it be better to not use a GSE form in the situation?... absolutely. Does USPAP forbid it?.... No.

USPAP has nothing to do with forms

 

[Tim Hicks (Texas)]

And yet appraisers do that every day (e.g., FHA, VA)

Didn't FHA and VA adopt the use of the forms and expect no editing of the forms requiring the use of Fannie and Freddie guidelines while using their forms along with their supplemental guidelines?

 

[TerryRohrer]

Didn't FHA and VA adopt the use of the forms and expect no editing of the forms requiring the use of Fannie and Freddie guidelines while using their forms along with their supplemental guidelines?

Yet they (FHA) never address the prohibition of changing the intended user and their requirement to be listed as an intended user. None of these issues should remain 17 years after creation of the forms, but GSEs/agencies apparently don't understand the discrepancies in their own requirements.

 

[Sadie]

Exactly right. Would it be better to not use a GSE form in the situation?... absolutely. Does USPAP forbid it?.... No.

USPAP might prohibit it if it is considered misleading.

 

[sputnam]

USPAP has nothing to do with forms

That's what I said.

 

[sputnam]

Yes, lots of people care. It would be misleading to use a GSE form for a non-GSE property. You would have to do a lot of editing of every page to make it a non-GSE form. What is that pesky thing about misleading reports?

And when is the last time you heard of an appraiser being disciplined for producing a report that someone might consider misleading?

 

[Tim Hicks (Texas)]

And when is the last time you heard of an appraiser being disciplined for producing a report that someone might consider misleading?

Here are three from page one of the TALCB disciplinary actions page for the 2021-2022. I could keep going, but you should get the point.