Cont. Ed. is a Joke

[sputnam]

This isn't intended to be as snarky as it is going to sound, but what is the fundamental intent/purpose of these reviews? To limit buyback requests or some other administrative-type function? To be clear, I am all for holding all appraisers accountable for everything they are supposed to do from both regulatory and sound appraisal practice standpoints. But I would have thought a major consideration would have been whether or not values were credible, which I believe requires an appraiser in the subject market with access to the data any appraiser practicing in that market must have. Clearly, I don't understand the purpose for most reviews as I seldom have clients asking for such and willing to pay a reasonable fee.

A reviewer may be asked to review all or any portions of an appraisal and/or appraisal report. What gets reviewed depends on the needs of the Client and Intended User. Reviews are governed by Scope of Work in exactly the same way that appraisals are. When a review assignment requires the reviewer to report his/her own opinion of value (or to just agree or disagree with the appraiser), the review is also an appraisal. That being said, some reviews are simply 'Tell us if this report complies with USPAP'.

 

[sputnam]

And what happens to said offenders? Nothing.....correct it and get more assignments over the appraisers who know better because they're cheap and can be manipulated by AMC's to "just change the name of the client and send it back in".

What happens to the offenders is the Client's call. I do recommend to the Client that they move an appraiser to the 'Only if there is no one else' or 'No way. Not any day.' list if I think the appraiser has earned it. Most Clients respect my suggestions. If they don't, that's their decision.

 

[George Hatch]

Lenders don't want to get sued for blacklisting an appraiser

 

[Terrel L. Shields]

Lenders don't want to get sued for blacklisting an appraiser

So, they just don't send them any work.

 

[djd09]

you are better off taking a math class...or the fine arts of propaganda