ASA fired off quite the letter

[Meandering]

Use your words.

two words

state boards

.

 

[George Hatch]

Two more words

Citation needed

 

[George Hatch]

Just so you don't divert from the question I'll repost it

"With the exception of a known/knowable unreasonable assignment condition, how can an appraiser be held liable for working to the terms of their engagement?"​

 

[Meandering]

How come USPAP can't be clearly written instead of requiring AOs and all kinds of interpretations by anyone?

None of this is "laws" it's all "rules" decided by everyone with a stake in the game, except the homeowners.

 

[George Hatch]

What do AOs have to do with any of this? Kindly note that I virtually never post a clip from an AO to explain what is/isn't in USPAP. And I wouldn't even need to clip from the USPAP document itself if people had read those excerpts for content. What part of any of those excerpts do you honestly not understand once I direct your attention to what it actually says?

As for (3rd party) homeowners, what changes to USPAP could be made that would improve their situation without infringing upon the legitimate interests of the intended users?

Homeowners, buyer, and sellers aren't lenders, they're not power users of appraisals who are already savvy about what is/isn't an appraisal, they don't make credit decisions or extend mortgages to borrowers, etc. Whatever their usage of an appraisal will sometimes be in direct conflict with the legitimate usage of an appraisal report by a lender.

If what you're mad about is the fact that lenders aren't sufficiently interested in their borrowers' well being to require appraisals to function as a technical home inspection or otherwise act as a guarantee of resale value as of that date then your beef is with the lenders - who COULD add those requirements to every appraisal they use if they wanted to. It isn't with the ASB for not unilaterally imposing those requirements on the lenders, which the ASB has no legal authority to do even if they were so inclined.

 

[Meandering]

What do AOs have to do with any of this? Kindly note that I virtually never post a clip from an AO to explain what is/isn't in USPAP. And I wouldn't even need to clip from the USPAP document itself if people had read those excerpts for content. What part of anything I've posted on this topic do you honestly not understand?

Just so you don't divert from the question I'll repost it

"With the exception of a known/knowable unreasonable assignment condition, how can an appraiser be held liable for working to the terms of their engagement?"​

the responsibility when it's all wrong.



But this has gone far past my original question, and like I said I have no USPAP book,

but I still loves ya.

 

[George Hatch]

( you and I should date )


Free, leastwise the front half + SR1-SR4

Uniform Standards of Professional Appraisal Practice (USPAP®)

www.appraisalfoundation.org

 

[Meandering]

Moment two Utah houses worth a combined $2m slide down a CLIFF after ...​

1 day ago Two new Utah homes worth a combined $2million fell down the bottom of a cliff after they were built on unstable ground Carole Kamradt,

Utah Houses Slide Into Canyon After Months of Safety Concerns​

1 day ago Draper, Utah, officials required two households overlooking a canyon to evacuate in October, KSTU reports. Residents watched their homes slide off the cliff and into the canyon below on Saturday ...


Well,

if they had mortgages, there is insurance, oh, but if the land also fell off the cliff with the homes, the lots might be too small now to rebuild. And, insurance doesn't cover the loss of land.

Oh my, the video in the first link shows cracks in the land.

Hopefully these had appraisal waivers.


.

 

[djd09]

Scope of work for secondary market work = Take it or leave it.

and the clients/users still whine and complain and boo hoo...didn't they get what they wanted

 

[Mejappz]

Oh well,

I was just thinking it all sounded so similar to;

"you can use forms created by AMCs, you just have to write the correct SOW"

until AI connect and Fannie stayed late to tell everyone;
"No. Appraisers must use the 1004 and other GSE forms"
and then the very next day, the forum experienced "the big quit" with so many changing their names and avatars, and other's leaving the forum, some for good, some for everything except fantasy football.

A possible way to improve the appraisal process is to exempt GSE and HUD/FHA work from USPAP or give more autonomy to the appraiser over their work product. The current system allows some users to interfere with every aspect of the appraisal process. I have done ten evaluations this year (that are not subject to USPAP). I use a form that I made in Word, and I follow Interagency guidelines for these assignments. I have never been asked to change anything in my reports. I don't even get any feedback from the client.

This is very different from the work from the users mentioned above. First, I have to follow AMC guidelines; then there are the client guidelines, then GSEs or HUD guidelines; and finally, I have to comply with USPAP. This creates a lot of confusion and complexity. And does it make the report more reliable? It does not.

The Appraisal Foundation has a vested interest in preventing appraisers from doing these products. They would lose power and revenue if appraisers could do these assignments without following USPAP. The good news is that some states are rejecting their arguments and are allowing appraisers to do these assignments without adhering to USPAP. This may also happen with GSE and HUD in the future.