3 vs 4

[DWiley]

To be honest and upfront, I've never done an official review. That being said, I was curious about to SR 1 & 2 or to not SR 1 & 2 in regards to what's required in appraisal review responsibilities.

Well, the answer is that the appraisal review report has to comply with STD 4, which means complying with portions if STD 2 (if one is also providing a value opinion within the appraisal review report). However, compliance with all of STD 2 is not required, only those portions referred to in STD 4. One may choose to do more, but that is what USPAP requires.

 

[George Hatch]

I usually never refer to an AO for an explanation, but I think in this case AO-20 elaborates and clarifies the ASBs intent on the matter.

 

[Dublin ohio]

I wish that the GSEs would change the word "accurate" to supported on the 1032/2000. Hard to say something is "accurate" when you can't figure out how they got to the number or it just doesn't make sense how they got there

 

[George Hatch]

I wish they'd change their entire form to address SR1 issues separately from SR2 issue. Just because the report doesn't show an SR2 element doesn't prove the appraiser skipped the SR1 analysis or consideration of it.

 

[djd09]

reviewing isn't appraising...it is back seat driving

 

[Dublin ohio]

reviewing isn't appraising...it is back seat driving

More like a driver's test

 

[BRCJR]

reviewing isn't appraising...it is back seat driving

and after 17 years of reviewing for a regulated lender, there are many more than one may think that need a bit of the back seat drivers.