2-4 Unit On 2055 Exterior Form?

[Mr Rex]

You would think with all the money and backing provided the former GSEs (now GOEs) that it would not be that f'ing difficult to produce a form that met a known need. Where are the regulators when there is a need for them?

 

[Michigan CG]

Can you please cite a case where an appraiser did this, included proper disclosures, and was still sanctioned? I can cite a state newsletter that said that it was OK with proper disclosures.

We all know that appraisers have been sanctioned for using the incorrect form. I remember that video from the state of Illinois. For the companies (lenders, AMCs) ordering these, have they taken this SERIOUSLY and provided to appraisers a sample of the proper disclosures and cited acceptance of this practice that they can put in their reports?

We all know that there are some great people out there who maybe aren't as versed as some who do these blindly. Has the client (lender, AMC) provided the information to help their "appraiser partners" or is it just every man for themselves?

 

[Howard Klahr]

Hey Danny

Will you provide a written identification provision as part of that engagement agreement?

 

[Howard Klahr]

Hey Danny

Will you provide a written indemnification provision as part of that engagement agreement?

 

[DWiley]

We all know that appraisers have been sanctioned for using the incorrect form. I remember that video from the state of Illinois. For the companies (lenders, AMCs) ordering these, have they taken this SERIOUSLY and provided to appraisers a sample of the proper disclosures and cited acceptance of this practice that they can put in their reports?

We all know that there are some great people out there who maybe aren't as versed as some who do these blindly. Has the client (lender, AMC) provided the information to help their "appraiser partners" or is it just every man for themselves?

Do you also remember that AFTER that video they said in their newsletter that, done properly, it was OK ?

Proper disclosure is certainly not rocket science, and any appraiser should be able to handle it. I cannot speak for all AMCs, but I know at least one company provides sample language that could be used by those who need/want such guidance.

There should be form. But there is not a Fannie form. Fannie has no motivation to develop such a form. Those are just facts. Lenders order appraisals in order to assess risk. There is a legitimate need for these types of appraisals. (I mean, God forbid that as appraisers we try to help our clients find solutions ) The mentality demonstrated by some who have posted in this thread serves to push the agenda of those who want to replace appraisers with something else. Just say that appraisers cannot do this and tie their hands over forms. Then lenders will simply seek a non-appraiser solution.

 

[ucbruin]

This is a situation in which it would be a good idea for every large lender/AMC to employ a small number of staff appraisers....

 

[Howard Klahr]

Just say that appraisers cannot do this and tie their hands over forms.

In all fairness, it is the inability of the AMCs portal to accept alternative options especially when that is what is appropreate to properly meet the needs of the client/intended use.

The need for a workaround is based entirely on technologly restrictions imposed by the AMC.

 

[Michigan CG]

Do you also remember that AFTER that video they said in their newsletter that, done properly, it was OK ?

Proper disclosure is certainly not rocket science, and any appraiser should be able to handle it. .

I do remember that newsletter, been a couple years.

While proper disclosure is not rocket science there are many appraisers who only do lending work and have never thought about adding additional comment, siclosures or commentary.

................ Lenders order appraisals in order to assess risk. There is a legitimate need for these types of appraisals. (I mean, God forbid that as appraisers we try to help our clients find solutions ) The mentality demonstrated by some who have posted in this thread serves to push the agenda of those who want to replace appraisers with something else. Just say that appraisers cannot do this and tie their hands over forms. Then lenders will simply seek a non-appraiser solution.

No doubt lenders have needs. Appraisers have needs also. Not all clients are created equally and the mistrust of the AMC model is strong, especially in topics like this. I doubt there are many AMCs who have people who have been proactive in this and have properly educated appraisers.

How many AMCs have trained their phone people to be able to explain this and offer to send the appraiser information, maybe a copy of the newsletter? Do you think Brian Coester has thought of doing this or is he sitting in his office trying to find more excuses as why he can't pay his people for another 60 days?

 

[DWiley]

The need for a workaround is based entirely on technologly restrictions imposed by the AMC.

Replace "AMC" with "Lender" and you are correct

 

[Michigan CG]

This is a situation in which it would be a good idea for every large lender/AMC to employ a small number of staff appraisers....

They are trying to do just that..............at $17/hour plus "performance bonus".