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Aloft Appraiser Toolkit

Now I have to turn in a woke-tastic report without mentioning the neighborhood school or church... tiptoe around comments using the "wrong" words. All for the Bargain Basement Vaseline free fee....
 
On the one hand I understand what you're saying. But OTOH I think you might be missing the point of adding more prohibitions to the lender's conduct. They're not trying to raise the level of conduct of the majority of appraisers. They're trying to raise the level of conduct among the donkeys. And they're trying to strip the lenders of some of the plausible deniability they have been using when engaging in unprotected underwriting.

It was never about you, it's about them. The decline of your business interests was just collateral damage to them. If they considered you at all.
 
One great irony of this back and forth about user requirements vs USPAP is that the requirement for personal inspection was created by one of those GSE "supplemental standards" that some are complaining about in this thread. Yet in other threads there is wailing and gnashing of teeth over the removal of the inspection requirement for hybrids appraisals and desktop appraisals. Still trying to sort out how folks can post both with a straight face.

Despite all the allegations of glad handing, backroom deals, kickbacks, etc., there is ultimately only one thing that really matters - what does the data show related to managing the risk on a mortgage loan?
 
DWiley said:
One great irony of this back and forth about user requirements vs USPAP is that the requirement for personal inspection was created by one of those GSE "supplemental standards" that some are complaining about in this thread. Yet in other threads there is wailing and gnashing of teeth over the removal of the inspection requirement for hybrids appraisals and desktop appraisals. Still trying to sort out how folks can post both with a straight face.

Despite all the allegations of glad handing, backroom deals, kickbacks, etc., there is ultimately only one thing that really matters - what does the data show related to managing the risk on a mortgage loan?
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Don't start confusing us with facts...lol
 
DWiley said:
One great irony of this back and forth about user requirements vs USPAP is that the requirement for personal inspection was created by one of those GSE "supplemental standards" that some are complaining about in this thread. Yet in other threads there is wailing and gnashing of teeth over the removal of the inspection requirement for hybrids appraisals and desktop appraisals. Still trying to sort out how folks can post both with a straight face.

Despite all the allegations of glad handing, backroom deals, kickbacks, etc., there is ultimately only one thing that really matters - what does the data show related to managing the risk on a mortgage loan?
Click to expand...
Render unto the users that which is theirs, both when they add to and when they subtract from.

One mistake I think probably most appraisers make is that the conventional 1004 is not the "all" in their all-or-nothing dilemma. The URAR might be fairly considered the 60% solution when compared to what some appraisers might be taking with them to the witness stand in a heavily contested hearing or submitting to a local jurisdiction for R-O-W usage.

We shouldn't be referring to the conventional 1004 as the gold standard with everything else being inadequate to purpose. Maybe we should be calling the conventional 1004 an example of the wood standard - sufficient for a lot of assignments but in excess for some and in deficiency for others.
 
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Surf Cat said:
A waiver.....
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Most waivers i reviewed were actually very conservatives. We ran our own comparables just to verify no over inflating. The borrowers who opted to get a full 1004 were usually saying the property's were worth more due to maybe a recent upgrade etc.

Those were few but the Waivers in general are possibly lower risk than full appraisals. We can all agree many appraisals we've done, were just wasting the borrowers money. A good comp check would have sufficed.
 
DWiley said:
One great irony of this back and forth about user requirements vs USPAP is that the requirement for personal inspection was created by one of those GSE "supplemental standards" that some are complaining about in this thread. Yet in other threads there is wailing and gnashing of teeth over the removal of the inspection requirement for hybrids appraisals and desktop appraisals. Still trying to sort out how folks can post both with a straight face.

Despite all the allegations of glad handing, backroom deals, kickbacks, etc., there is ultimately only one thing that really matters - what does the data show related to managing the risk on a mortgage loan?
Click to expand...
One of the first things I learned in my appraiser classes was the residential real estate market is illogical. And perhaps that applies to some appraisers also.
 
Sadie said:
One of the first things I learned in my appraiser classes was the residential real estate market is illogical. And perhaps that applies to some appraisers also.
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Delutional and often child like thinking and reasoning. Starts off by old mentors telling the newby their protecting buyers and seller's and the lenders.

That was more true 30 year's ago before average folks had access to data and online property information. Today the apprasers role in mitigating loan risk is almost zero.
 
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