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appraiser elearning : discussion on Bifurcations & Hybrids

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Michigan CG

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In fact, the way they described what the final form will potentially look like is a dynamic form that 'hides' or 'shows' different sections depending on the property type being appraised. No more 1004, 1073, 1025, etc. Just one form that can be used 'across property types'.
I don't think that is a good idea.
 

Non Sequitur

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I don't think that is a good idea.
If they’re leaning more toward the SOW driving the process as opposed to the form driving the process I’m very interested in hearing more.
 

alebrewer

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I don't think that is a good idea.
Why? It's certainly not a done deal yet, but as I understand it, it would work kind of like so: Say you check the box that it's a 2-4 family appraisal, the 'grid' for 2-4 family would show up, as well as rental analysis and income approach stuff. If you check the box saying that it's a owner occupied condo, no rental analysis would show up, but the section specific to the condo complex would show up, etc. I don't see where there would be an issue? There is no USPAP requirement that reports be on forms specific to that property type?
 

djd09

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that is why i call it milli vanilli appraising. sure they can fake it for a while, but sooner or later, the lips and voices do not match. Girl You Know , Girl You Know, Girl You Know.
 

alebrewer

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that is why i call it milli vanilli appraising. sure they can fake it for a while, but sooner or later, the lips and voices do not match. Girl You Know , Girl You Know, Girl You Know.
huh?
 

djd09

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now, I've got a special purpose. :)
 

TRESinc

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These appraisers are being offered a desktop appraisal assignment. If Appraiser A is unwilling to do it then the lender will just take that assignment to Appraiser B who will do it. The lender is not forced to engage Appraiser A to do a 1004 that the lender doesn't want to pay for. Moreover, nobody is forcing Appraiser A or Appraiser B to take those assignments on under those terms. This here's America and nobody is compelled to perform an appraisal assignment they're unwilling to perform.
AMEN! this is where everyone who thinks the appraiser does not set their fees trips. no one can force an appraiser to accept an order at ANY price unless the appraiser agrees to the terms and sets their price at whatever is offered.

Beyond crazy. For decades appraisers have inserted "I'm not a home inspector and/or this isn't a home inspection" into their appraisal reports, now all of a sudden collecting data by measuring and taking photos is a home inspection.
but but but... it's different now!

hahahahahahah.

I'll make another prediction: If the peanut gallery is successful in their ill advised push for another license in our space, they will be the first ones to cry like babies when standards are set for measuring and taking photos that everyone will eventually have to follow.
exactly, but why think about the future. just do whatever ill-informed thing we can come up with that looks on the surface like it may be helpful!

Here is the problem. The fannie/bifurcated claims the appraiser is not responsible for the "inspection "( data collection). Thus, if the third party "inspector" (their word) sketches subject as 2200 sf including a fourth bedroom count from a room made from a garage, the appraiser will not be held responsible because the third party did that.

However, the appraiser is still responsible for the appraisal, and the appraisal will be based on a 4 bedroom, 2200 sf home, later turns out to be a 1900 sf 3 bedroom home with a non permitted and not to code room made out of a garage. The data collector who did the "inspection" is not responsible for appraisal results, the appraiser is. Of what thin assurance the appraiser is not responsible for the "inspection "matter? The appraisal value will incorporate and develop value from the inspection data, and only the appraiser is named and signed as responsible for the appraisal.
have you never ran into a situation where your data source and verification sources were not exactly the same? do you not verify the data you use in your reports? do you only use what one source says for your data? the blame would fall squarely on the shoulders of the appraiser if their report is based solely on one data source as you laid it out. if the data sources are the same then you report that as well.

this is appraisal 101. even you should be able to figure out that much.

what is made up? Some, including a personal friend of mine who appraises in Cali have seen the form, it is a 1004 form except for appraiser did not inspect box and some disclosures.
ahhh.... the mythical "california friend appraiser" who agrees with everything you post and always is backup for your outlandish claims...

We are discussing from what we all know of the model, which fannie has released info on the bifurcated model. So any and all of us are speculating outcome including fannie in a test pilot phase. Of course the test pilot of 2 years, will not include any possible aftermath of suits or challenges to these appraisals as the loans season and are bought/sold by investors or buyer goes to sell 3 years later, discovers house is 1900 sf, not 2200 sf, his purchase price was based on 2200sf - who is buyer going to go after, the held harmless data collector, or the appraiser who signed report?
the agent who sold them a house without verifying the data, or the appraiser who completed a report without verifying the data.


exactly. Appraisers own the int/ext 2055 report results. But were well aware of the risk and subsequent liability and willing to take it on going in. Trusting and relying on their own judgment They made a fully informed decision based upon the data “they” collected with or without an inspection.

the hybrid is inherently different in this regard
so having more data for a BF vs a 2055 is a bad thing? do you not reconcile every report you complete, and as part of that process reconcile the multiple data sources you have used and form your own opinion at the end, before the appraisal is completed? of course you do so stop making up scenarios that don't exist in an attempt to prove an opinion as a fact.

This 'data' collected by an unknown third parties is the basis of the appraisal. Failure to understand that "factual" data can be wrong is a concept not understood (in denial) by the controlling fractions.

The appraiser is responsible for a Credible report. Assuming away wrong data does not change this requirement.
wow you get a lot of things wrong. the data collection is just one data source used in an appriasal. without any verification and reconciliation by the appraiser they can only blame themselves.
 
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