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Can trainees inspect on their own currently without a supervisor?

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
a. FHA Appraiser Roster i. Definition Appraiser refers to an FHA Roster Appraiser who observes, analyzes, and reports the physical and economic characteristics of a Property and provides an opinion of value to FHA. An Appraiser’s observation is limited to readily observable conditions and is not as comprehensive an inspection as one performed by a licensed home inspector. ii. Standard FHA requires Mortgagees to select qualified, competent and knowledgeable Appraisers. FHA maintains a list of qualified Appraisers on the FHA Appraiser Roster. Only an Appraiser on the FHA Appraiser Roster and the Appraisal Subcommittee’s (ASC) National Registry may be selected by the Mortgagee to conduct an appraisal for FHA insured financing

b. Application and Approval Process i. Eligibility Requirements General For placement on the FHA Appraiser Roster, the appraiser must:  be a state-certified residential or state-certified general appraiser with credentials based on the minimum licensing/certification criteria issued by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation;  not be suspended, debarred, or otherwise excluded; and  not be listed on HUD’s Limited Denial of Participation (LDP) List, HUD’s Credit Alert Verification Reporting System (CAIVRS), or subject to any current loss of standing or suspension as a certified appraiser in any state.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
The first thing in the OP was "I noticed in the full report the appraiser/signer disclosed that a trainee did the inspection, wrote the report, did research, etc. under his supervision... ."

I don't see how the loan could make it through the FHA process to the point of a 1004D completion because it was deficient from the get go.

I would be very careful and maybe hesitant (or decline) proceeding with this just based on that one statement. At this point, the loan is not yet insured and in the case file. Once HUD gets hold of it, everyone involved is at risk.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
...under his supervision...
 

KYLECODY

Thread Starter
Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Taking a further look at this beauty of a report. Under cost approach where it says effective date of cost data he states 2010..His data source is Marshall Swift combined with market?? His quality rating from the cost service is q3?.His opinion of value is 670k with the cost approach 670k and adjustments down to the pennies for square footage...This guy must be good. Or his unlicensed trainee.

Enough to submit to the state as a USPAP issue since it is misleading? Me thinks yes.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
What do you have in support of an allegation of "misleading"? I mean other than the appraiser signing on the right situation.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
We all know that when it comes to FHA/USDA/FMHA, VA; condition is an extremely important part of the Appraisal process. Compliance with their rules and guidelines(all of them) are not negotiable.

If your completing a 1004D, that's not a review. So this is a tough call. One of my friends and is a participant at this Forum would not blink or think about it, nor ask anyone, Nope! He is hardcore when it comes to ethics. He would send that appraisal straight to our State Licensing Board and let them sort it out. Sort it out they will which includes forwarding the Report to HUD. Bob, is a good one, straight as an arrow and he could care less about any retribution.
 
Last edited:

Dublin ohio

Senior Member
Joined
Mar 20, 2008
Professional Status
Licensed Appraiser
State
Ohio
Since the appraiser signed on the left. It would appear to any reader. That all they were doing is acknowledging significant assistance. The information the OP obtained is not within the body of the report. I suppose you could turn it over to the state. But I would think any action would require the borrower to testify. Since the OP can only provide hearsay.
 

Digger88

Senior Member
Joined
May 11, 2010
Professional Status
Certified Residential Appraiser
State
Virginia
report what you know and turn that S*** in!
 

KYLECODY

Thread Starter
Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
What do you have in support of an allegation of "misleading"? I mean other than the appraiser signing on the right situation.
I was going to start with having unlicensed trainees doing inspections alone, then add on using 2010 Cost Data for a 2019 report, than the making up of Cost Data Source(Marshall Swift and market....has to be one that can be verified, not a guess/combo), using a UAD rating for his cost approach quality rating instead of a Marshall Swift rating, checking and stating no updates in the last 15 years under condition and than two sentences later saying they have done 400k in improvements in the last two years, having a detached guest house but not checking accessory unit, using a statement saying " Market Conditions in the subject neighborhood has slightly declined and shown some increase of average priced homes. The area is now showing stability."...Huh?

Thought I would start with those and add if I thought the State needed more help? :whistle:
 
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