And isn't that funny as complex and non-complex have nothing to do with USPAP, but have everything to do with the Truth in Lending Act and the Final AMC Rule, and Dodd Frank, which would be the purview of the cfpb, FDIC, OCC, all those other bank type regulator initials, and state boards, but not the foundation. The Foundation should stay out of that argument.
In a nut shell, my strong belief is that they need to STOP the idiotic constant parsing changes in all areas of USPAP.
NOT ONE of the proposed changes is a necessary change. NOT ONE! No wonder state regulators no longer comprehend USPAP!
If they need the extra money that selling new versions of USPAP produces, then just CHARGE US DIRECTLY!
This is an interesting read and a plea for appraisers to standup to the bureaucracy. Take the time to read the article.
The purpose of FIRREA was to preserve the public’s trust in the integrity of the appraisal process, not to promote unnecessary USPAP educational course offerings and lectures opportunities for so called USPAP “experts”. Over the years the TAF and its Boards have done the opposite. Their actions are eroding confidence! These are honorable people who have lost focus as so many boards often do.
"If revising a completed appraisal report involves a new assignment, it would be appropriate to disclose performance of the prior appraisal as a prior service. However, if the report is simply being revised due to correcting errors or providing additional clarification, disclosure of a prior service is not required because the revision is being performed as part of the original assignment."
Look at this one. It is required to disclose prior services.