AMC sample reports and USPAP

[Sliverbill66]

Hello all. I am a new certified appraiser and I want to spread my client net as wide as possible. I want to start applying to be on the appraiser panel for multiple AMCs. Most require 2 sample reports to apply. My question is, how do you stay compliant with USPAP, and the confidentiality rule, when you send these sample reports? Do you redact all client info/opinions? It would be a pretty bare report if you redact opinions of value, market trends, HBU, etc? Any help would be highly appreciated.

 

[J Grant]

Just redact the client info, names, and street address of the subject, -

 

[George Hatch]

Just edit a report to the address and assessor parcel of a model match and mark "Sample Report" for the client.

 

[sputnam]

Redact the borrower's name, the Client's name, and the value conclusions. I add a bold, dated note that the report has been revised to redact confidential information in compliance with USPAP. The fact that you did an appraisal of a particular property is not confidential. IMO you do not have to redact the subject's address. I do consider the borrowers' names confidential. What USPAP actually says, is on page 11 and FAQs 55 and 56 deal with the issue.

 

[Tawfik Ahdab]

You will be in violation of the confidentiality rule of USPAP if you disclose confidential information to anyone but your client.

This is all well spelled out in USPAP and derivative opinions.

 

[andrew81]

An appraiser must not disclose: (1) confidential information; or (2) assignment results to anyone other than:
• the client;
• parties specifically authorized by the client;
• state appraiser regulatory agencies;
• third parties as may be authorized by due process of law; or
• a duly authorized professional peer review committee except when such disclosure to a committee
would violate applicable law or regulation.
An appraiser must take reasonable steps to safeguard access to confidential information and assignment
results by unauthorized individuals, whether such information or results are in physical or electronic form.
An appraiser must ensure that employees, co-workers, sub-contractors, or others who may have access
to confidential information or assignment results, are aware of the prohibitions on disclosure of such
information or results.

What is confidential information?

CONFIDENTIAL INFORMATION: information that is either:
• identified by the client as confidential when providing it to an appraiser and that is not available from any
other source;
• classified as confidential or private by applicable law or regulation.

 

[andrew81]

If a potential a client request a sample, I clone a report xxxx out the address and place SAMPLE over it.

 

[Tom D]

maybe take one of yours, and put an address that doesn't exist on the same st. mostly is a bunch of XXXXX's to solve that issue.

 

[Terrel L. Shields]

Ask a couple friends to let you value their house and use as samples. I've heard of AMCs and banks rejecting redacted copies. Personally, I've not submitted a sample in 20 years. Too big a PITA. But when starting out, usually have no option.

 

[BRCJR]

Redact anything considered confidential.
Redact anything that identifies the subject property.
or
Get permission from a client to use an Appraisal Report for sample submission.