ASA fired off quite the letter

[George Hatch]

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.​

​

Offhand I'd say the actual order of operations for what you're describing is entirely different. USPAP compliance comes first with any user-driven requirements being additional. We used to refer to them via the Supplemental Standards Rule prior to the same function being addressed in the SOWR. Unless there's a JE these extras can only add to, not detract from the minimums laid out in USPAP.

And when you say that the clients for your Evals don't hassle you the way they do for appraisals that's clearly a user issue; not an appraisal standards issue. "User issue" most likely being for the "user-specific requirements" they have imposed, not anything in USPAP.

 

[Zoe]

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.​

​

Offhand I'd say the actual order of operations for what you're describing is entirely different. USPAP compliance comes first with any user-driven requirements being additional. We used to refer to them via the Supplemental Standards Rule prior to the same function being addressed in the SOWR. Unless there's a JE these extras can only add to, not detract from the minimums laid out in USPAP.

And when you say that the clients for your Evals don't hassle you the way they do for appraisals that's clearly a user issue; not an appraisal standards issue. "User issue" most likely being for the "user-specific requirements" they have imposed, not anything in USPAP.

And that goes back to appraiser is responsible for SOW.

 

[Mejappz]

two words

state boards

.

Right. The state board is like a ruthless judge, and USPAP is the rope they use to hang the appraiser. Check out another thread where the state grills a poor trainee for some silly interpretation of USPAP.

 

[Mejappz]

And that goes back to appraiser is responsible for SOW.

Dont, waste your time.

 

[George Hatch]

Right. The state board is like a ruthless judge, and USPAP is the rope they use to hang the appraiser. Check out another thread where the state grills a poor trainee for some silly interpretation of USPAP.

I commented quite a bit in that thread. Personal error occurs at the individual, not in the material. The reviewer alleged a SOWR error, for which there is the 2-part test that they would be incapable of meeting in support of their allegation. As in, it can't be done on the factual basis.

The reason we have an appellate and supreme court provisions in the judiciary is to provide a means for addressing possible errors in the lower courts. Just because there's a ruling (or a complaint) doesn't mean the original decision will always stand.

 

[Carnivore]

Even if they get the information from the home inspector there is no one to put the breaks on the loan.

True, but what dos that mean to us? Before you answer keep in mind we exist in the Lending World because we only give them one metric of the Risk Decision process. Just think of the Home Loan Process. Simply Credit is King Collateral is 2nd fiddle. Many Home loans for years have been approved without any
In-Person Appraisal. 2nd Mtg comes to mind. ; 1st Mtg on Homes that have no mtg loan to value based County Tax Value. High Income Peeps with steady careers.

If you think about this even more we often over the years received assignments asking for a 2055. How is this any any real difference between that product and a Desktop?

FNMA Data is so good that it does not surprise me about the path they have taken. How do I know this?

FTR I started to read the ASA Letter ....and then didn't finish it. Why because it won't make any difference.

What's my advice? Stop being a Broom Maker. What's a Broom Maker? Broome Makers is equivalent to an Appraiser Banging out 1004's day in and day out.

 

[Mejappz]

FNMA Data is so good that it does not surprise me about the path they have taken. How do I know this?

Fannie Mae's data is not very good that's per one of their mouthpieces on the forum.

 

[George Hatch]

Fannie Mae's data is not very good that's per one of their mouthpieces on the forum.

I didn't catch that comment when it was made, but its implications could be argued to be significant.

 

[ucbruin]

True, but what dos that mean to us? Before you answer keep in mind we exist in the Lending World because we only give them one metric of the Risk Decision process. Just think of the Home Loan Process. Simply Credit is King Collateral is 2nd fiddle. Many Home loans for years have been approved without any
In-Person Appraisal. 2nd Mtg comes to mind. ; 1st Mtg on Homes that have no mtg loan to value based County Tax Value. High Income Peeps with steady careers.

If you think about this even more we often over the years received assignments asking for a 2055. How is this any any real difference between that product and a Desktop?

FNMA Data is so good that it does not surprise me about the path they have taken. How do I know this?

FTR I started to read the ASA Letter ....and then didn't finish it. Why because it won't make any difference.

What's my advice? Stop being a Broom Maker. What's a Broom Maker? Broome Makers is equivalent to an Appraiser Banging out 1004's day in and day out.

This is a good unemotional understanding of Capitalism....
Evolution happens....

 

[Meandering]

This is a good unemotional understanding of Capitalism....
Evolution happens....

Help out us unedumacated folks and please explain
"capitalism" when the government is controlling the supply, demand and virtually every aspect of the market.

thank you for your service.

.