BAC Desktop Appraisal

[Tom D]

The second you do anything that infers a value, you have done an appraisal with all the needs of a full work file.

The form cares not about your risk one bit. But the state cares about your workfile and proof of your concurance with any noted value. And what they expected you to do, not what the form minimally expects you to do.

If no value is to be confered by you then you are safe. Not saying a value is good or bad is still confering the value as being correct. An appraisal was just done by you.

Now, i understand that there can be a USPAP review, which is not an appraisal.

 

[OSU Beavers]

I used the same scope of work which I have for completing an Exterior only appraisal minus the inspections. A lot needed to be added to the BAC form. I spoke with a reviewer at BoA who said "Add whatever you want". Uploaded to AppraisalPort and five minutes later the report was Auto Rejected without an explanation.

I am still waiting for them to get back to me.

 

[alebrewer]

Per the selling guide for Desktop Appraisals:

Exhibits: Form 1004 Desktop requires the same exhibits as traditional appraisals, plus a floor plan. The Square Footage-Method for Calculating: ANSI Z765-2021 standard and exception code (GXX001- in the Additional Features field) is not required for desktop appraisals, but encouraged when feasible. See B4-1.2-01, Appraisal Report Forms and Exhibits for additional information.

 

[Alsie35]

I used the same scope of work which I have for completing an Exterior only appraisal minus the inspections. A lot needed to be added to the BAC form. I spoke with a reviewer at BoA who said "Add whatever you want". Uploaded to AppraisalPort and five minutes later the report was Auto Rejected without an explanation.

I am still waiting for them to get back to me.

Spoiler Alert: The BoA BAC desktop form is not integrated well into the Appraisal port system. It will be "machine" kicked back EVERY. SINGLE. TIME.

No exceptions. You'll have to call BoA and talk to the reviewer to see if both of you can figure out what box needed to be checked or left blank. There is literally no rhyme or reason to it. If it passes, and you clone that file for your next BAC - that one will STILL be "machine" rejected even though you did it the same way as the "fixed" one.

Finally the reviewer will do something on their end to waive it or force it through.

If it wasn't for this Appraisal Port glitch the BoA BAC desktop would be a "piece of cake" to do. But its only for HELOC purposes and you only get one "in a blue moon".

 

[OSU Beavers]

OFFS!

Please enter "See Addendum" in the Legal Description field as the current entry exceeds the field's character limit(40 including spaces).

 

[alebrewer]

haha! Gotta love UAD...