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$25.00 Out of State Bifurcated = $2,500.00 Fine

chad hampton

Senior Member
Joined
Nov 10, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
About 8+/- years ago I sat in a conference room full of appraisers when the chief appraiser for one of the largest banks in the country told us that we were coming in low on purchase appraisals at a rate of about 4%. He said the banks #1 competitor was coming in low at a rate of about 2.5%. Said realtors know this and they funnel loans from his bank to the other bank. Told us point blank to stop coming in low on purchases.

Put down USPAP, stop advising people that "it depends" and get in the real world.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
A form is not "USPAP compliant"..the content of the appraisal makes a report USPAP compliant. Since narrative appraisals have no form, what makes them "USPAP complaint?" (rhetorical intended )

All a form provides is a way of organizing content for the reader.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Accepting a $25 fee means an appraiser is stupid but stupid is not a USPAP violation. If appraiser practiced appraisal in a state where they are not licensed to practice, that is a state board licensing issue.. If the appraisal provided misleading results/had serious deficiencies , perhaps due to lack of area competence, that is a USPAP issue.
 
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Evincere

Elite Member
Joined
Dec 30, 2002
Professional Status
Certified Residential Appraiser
State
Florida
USPAP or not What we shouldn’t lose sight of is the history and nature of the entity sanctioning the utilization of these products


https://www.relmanlaw.com/news-191

NEWS & UPDATES
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8.15.2019
On August 12, 2019, a federal judge ruled that a systemic lawsuit challenging Fannie Mae’s discriminatory maintenance of its “real estate owned” (REO) properties should proceed on all claims.


BankThink This isn't a bailout, this is return of stolen funds

March 23, 2018

https://www.americanbanker.com/opinion/this-isnt-a-bailout-this-is-return-of-stolen-funds

In February, as expected, Fannie Mae and Freddie Mac announced that they will require a combined $4 billion “draw” from the U.S. Treasury in order to maintain positive net worth. This is due to their having to write down certain tax assets whose values were negatively impacted by the new tax law.
Having earned over $100 billion since the financial crisis ended, and with combined assets of over $5 trillion, how can Fannie and Freddie be so broke that they require another cash infusion from the taxpayer?
The answer is simple: Our government has already sucked out all of their profits, leaving them with virtually no equity cushion whatsoever. Thus, when Treasury cuts checks to Fannie and Freddie at the end of this month, those payments should be considered as nothing more than the return of stolen money.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
About 8+/- years ago I sat in a conference room full of appraisers when the chief appraiser for one of the largest banks in the country told us that we were coming in low on purchase appraisals at a rate of about 4%. He said the banks #1 competitor was coming in low at a rate of about 2.5%. Said realtors know this and they funnel loans from his bank to the other bank. Told us point blank to stop coming in low on purchases.

Put down USPAP, stop advising people that "it depends" and get in the real world.
USPAP is nothing but an appraisal standard. It was never intended to be anything other than an appraisal standard. It is not a cure for unethical clients or unethical appraisers. It won't stop lenders from acting like lenders and it won't stop appraisers from playing for one team over the other all the while lying about their impartiality.

Stop attributing to USPAP roles it was never intended to meet.


I am in the real world, and I do still appraise houses (among other property types). Just not the kinds of houses anyone would ever call you for. Here's one I'm working on today:

Capture.JPG
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina

you are out of touch. 5 minute mark. Professional Appraisal Assistance.
8:50 seconds forward

So the operative word(s) is "Its not Required per /USPAP"

This means if you Don't, then no problem,
IT does not say you can't, It does not say you can't describe, It does not say You can't describe Harry and your concerns. you might say "WARNING" Nothing in USPAP prevents you from expanding your comments in regards to the reliability and credibility of data provided to you. You could even deflect more by stating you have concerns about a particular counties GIS information.

Don't the let AMC Buffoons trick you into using their Amateur Hybrid Form. Nothing prevents you from adding to the limitations page
 
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djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
blah blah blah promote and preserve public trust, verified, credible, meaningful, reliable, knowledge, understand, disclose, ethics, integrity, independent, impartial, objective, no client bias, no defrauding, no misleading, no substantial errors, no negligence. they (USPAP) talks a good game.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Maybe it would be appropriate to look at one of these programs, write up a constructive critique of it and submit it to the vendor for them to consider. Point out the aspects of their program that they apparently didn't consider and maybe see if they're respond by making those changes, particularly in the disclosures of what the appraiser did and didn't do. It wouldn't slow them down from selling these things, but it would provide a more defensible position for the appraisers.

That is, assuming you guys don't actually oppose providing those appraisers with a more defensible position.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
blah blah blah promote and preserve public trust, verified, credible, meaningful, reliable, knowledge, understand, disclose, ethics, integrity, independent, impartial, objective, no client bias, no defrauding, no misleading, no substantial errors, no negligence. they (USPAP) talk a good game.
You can't meet the requirements of your work unless you can identify what those requirements are - that's where having a written appraisal standard comes in. That standard lays out what those reuqirements are - and just as importantly, what they aren't. This whole debate has arisen from the fact that some of you refuse to acknowledge a couple of those "what they aren't" and are clinging to the notion that what the GSEs have been doing all along is the only way they can choose to do it.

"common knowledge" isn't a defensible standard because there are too many conflicting opinions. Ditto for "Client's Opinion", and "Appraisal Board's Opinion". Appraisers cannot know exactly where they stand and users can't know exactly what they can expect without written appraisal standards, laws, rules and regulations. As far as what the profession thinks is necessary for professional conduct and performance, if the acknowledged standard wasn't USPAP it would have to be something else, and regardless of where the line was drawn there would still be appraisers who think it should have been drawn differently.

It is the "Uniform" which provides the known/knowable benchmark, not the specifics of the standards themselves.
 
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djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
"Wall Street’s Six Biggest Bailed-Out Banks:Their RAP Sheets & Their Ongoing Crime Spree

$8.2 Trillion in Bailouts 351 Legal Actions Almost $200 Billion in Fines and Settlements"


five hundred and fifty five FAQ's later, the line in the ground is blurry.. :rof: :rof: :rof:
 
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