Class Appraisal Absurd Revision Requests

[Overimprovement]

carnivore; there isn't one.

The below is wrong

The differences would go into the location or view line. What words are left to describe the differences? And before anyone brings up the point, yes we should always stay as close to the subject neighborhood as possible. But with the GSE's insistence on 6 months, 1 mile, etc, sometimes that is not possible. I've done mostly semi-rural appraising in my career. Those..
---------------------------------------------------------------------------------
Carnivore's response Those constructs of 6 months and one mile disappeared a long time ago. Some others for commenting about 10%+ line items adjustment and 25% gross adjustment comments disappeared also. Last I knew they do want explanations below is what FNMA wants to see and or comments, You will notice that they do not limit or tie the hands of appraisers. I use the selling guide all the time. Lot's of appraisers over at facebook rarely use it...they just want a quick answer. They do get quick answers but those who answer did not know themselves so they are spreading disinformation. Some do it purposely
my reply to them would be below

B4-1.3-08, Comparable Sales (11/06/2024)

This topic contains information on selection of comparable sales, including:

selling-guide.fanniemae.com

We can all be cavalier and state that officially the GSEs no longer REQUIRE or DEMAND these things. That is technically correct. But it is very noteworthy that DU still will call out reports and require explanation on these items (I had one as recently as last year which I had made comments about but still got stipped). Maybe DU didn't get the memo? Also, it is funny that if the GSE's truly don't care about it, then I would think lenders and AMCs truly would not care either, but as of late 2022 (when things really went south and I started exploring other career options), most of my assignments still had verbiage stating I had to clearly explain any deviance from not only these traditional time/distance metrics, but also the gross/net adjustments.

If 100% true that the GSE's don't care at all, it seems quite absurd to think most lenders/AMCs would still care. Did none of them get the memo either?

Now granted I have done very few appraisals this year and not too many last year either, so maybe things have chilled out in the last 12 months.

Let's all watch as appraising as a career totally goes into the toilet, but let's get fired up over a choice of adjectives. Oh were that fire directed toward protecting and advocating for appraisers.

 

[Carnivore]

We can all be cavalier and state that officially the GSEs no longer REQUIRE or DEMAND these things. That is technically correct. But it is very noteworthy that DU still will call out reports and require explanation on these items (I had one as recently as last year which I had made comments about but still got stipped). Maybe DU didn't get the memo? Also, it is funny that if the GSE's truly don't care about it, then I would think lenders and AMCs truly would not care either, but as of late 2022 (when things really went south and I started exploring other career options), most of my assignments still had verbiage stating I had to clearly explain any deviance from not only these traditional time/distance metrics, but also the gross/net adjustments.

If 100% true that the GSE's don't care at all, it seems quite absurd to think most lenders/AMCs would still care. Did none of them get the memo either?

Now granted I have done very few appraisals this year and not too many last year either, so maybe things have chilled out in the last 12 months.

Let's all watch as appraising as a career totally goes into the toilet, but let's get fired up over a choice of adjectives. Oh were that fire directed toward protecting and advocating for appraisers.

In bold above I doubt things have chilled...but if they have it will return because middle class and below are reeling from the biden/kackels Economy! If she wins , it may get rough for the average homeowner. I think you will see an uptick of UW stips.

 

[Overimprovement]

In bold above I doubt things have chilled...but if they have it will return because middle class and below are reeling from the biden/kackels Economy! If she wins , it may get rough for the average homeowner. I think you will see an uptick of UW stips.

I have always felt UW stips are a function of how busy that lender is. When it's raining money you throw away the umbrellas.

 

[Sadie]

We can all be cavalier and state that officially the GSEs no longer REQUIRE or DEMAND these things. That is technically correct. But it is very noteworthy that DU still will call out reports and require explanation on these items (I had one as recently as last year which I had made comments about but still got stipped). Maybe DU didn't get the memo? Also, it is funny that if the GSE's truly don't care about it, then I would think lenders and AMCs truly would not care either, but as of late 2022 (when things really went south and I started exploring other career options), most of my assignments still had verbiage stating I had to clearly explain any deviance from not only these traditional time/distance metrics, but also the gross/net adjustments.

If 100% true that the GSE's don't care at all, it seems quite absurd to think most lenders/AMCs would still care. Did none of them get the memo either?

Now granted I have done very few appraisals this year and not too many last year either, so maybe things have chilled out in the last 12 months.

Let's all watch as appraising as a career totally goes into the toilet, but let's get fired up over a choice of adjectives. Oh were that fire directed toward protecting and advocating for appraisers.

GSEs never required these things. They are just guidelines and have always been just guidelines.

 

[TC]

Thanks. I just realized that these template comments of mine are about the very last canned verbiage that remains from the template I was given as a trainee 20+ years ago.

20 years? Better increase the fireplace adjustment.

 

[James Mic]

FASI is only entity that ever called me to task, cancelling all future orders after i declined an assignment mid way through the process bc of a conflict of interesr between my office employee and a borrower. I had made about $35K by June of 2021 when the orders stopped although most work was exterior only, of SFRs with no prioe MLS exposure, with no view of the property visible from the public street. Every damn assignment.

 

[TerryRohrer]

20 years? Better increase the fireplace adjustment.

I occasionally see and infrequently review reports of a local appraiser whose boilerplate still reference the 1993 version of USPAP and the URAR. I recognize the verbiage and they didn't even write that version on their own.

 

[sputnam]

carnivore; there isn't one.

The below is wrong

The differences would go into the location or view line. What words are left to describe the differences? And before anyone brings up the point, yes we should always stay as close to the subject neighborhood as possible. But with the GSE's insistence on 6 months, 1 mile, etc, sometimes that is not possible. I've done mostly semi-rural appraising in my career. Those..
---------------------------------------------------------------------------------
Carnivore's response Those constructs of 6 months and one mile disappeared a long time ago. Some others for commenting about 10%+ line items adjustment and 25% gross adjustment comments disappeared also. Last I knew they do want explanations below is what FNMA wants to see and or comments, You will notice that they do not limit or tie the hands of appraisers. I use the selling guide all the time. Lot's of appraisers over at facebook rarely use it...they just want a quick answer. They do get quick answers but those who answer did not know themselves so they are spreading disinformation. Some do it purposely
my reply to them would be below

B4-1.3-08, Comparable Sales (11/06/2024)

This topic contains information on selection of comparable sales, including:

selling-guide.fanniemae.com

Those never were Fannie/Freddie requirements. They were guidelines. Essentially, do this if you can. If you can't, explain. Some Lender/Clients thought they were requirements and sometimes tried to tell appraisers they were required. Maybe some Lender/Clients still do.