Can a lender require an appraiser to be designated?

[George Hatch]

I have my limitations just like anyone else. When projects outside of my envelope come up I make referrals. Those referrals go to appraisers I know of who are doing such work, who invariably hold designations. That's who appraise those kinds of properties and projects. In this region, anyway.

I directly compete with MAIs for assignments on my end of the market, and and I sometimes have occasion to review work from MAIs as well as the occasional SRA. Almost all of those reports are good; they're better as a group that what I've seen from other non-affiliated CGs (like myself) as a group. Some of the reports coming out of the big nationals are less-than-impressive, rushed and perfunctory; but those tend to be limited to the small non-res properties like I commonly do, not the major projects where the senior signatory is personally doing a lot of the analyses themselves. I have only rarely seen an MAI report that was dorked in the client's favor.

If I thought otherwise I'd say otherwise. The designation speaks to the individual meeting the qualifications. What they're capable of doing. It doesn't speak to how they run their operations on the day-to-day. That's always on the individual. Same as applies to licensees - a license just speaks to the minimum qualifications. It isn't a guarantee of performance. .

 

[Deleted member 152047]

There are good and bad appraisers and appraisals, irrespective of whether the person is designated. Quit knocking the designation.

 

[George Hatch]

I would say that among the more typical property types it more commonly comes down to hard working vs lazy. Appraisers generally know what they're supposed to do, but sometimes don't work to their capabilities.