Desktop Appraisals Becoming the New Normal

[TerryRohrer]

Based on this, would it be fair to say that a modest revision to your original post would be more accurate? "appraisers are not independent. That is simply a fact."


Speculation. My personal opinion is that they may be BETTER prepared for field work than many appraisers who got their training the traditional way, as they will be trained by folks who specialize in training - not someone's father who just happens to hold a credential. Even on my part, though, that is speculation at this point.

I suppose you author their opinions for appraisers working for your employer as well?

 

[George Hatch]

the judge does not care about USPAP. due diligence is the law.

The appraiser licensing laws of your state stipulate USPAP as being the minimum standard of conduct.

As there is no alternative standard referenced in the law to which your complainant could cite.

Bottom line, if there is an error in the information an appraiser is using from their public records feed or the MLS or an inspection report, that error is not the fault of the appraiser. It's beyond their knowledge or control.

 

[alebrewer]

I suppose you author their opinions for appraisers working for your employer as well?

If you're asking whether I tell our appraisers what value to put on the report - of course I do!

Seriously, dude - life's too short to be angry all the time. It's ok to be nice to folks. Staff appraisers are no different than the fee world - there are good appraisers and there are bad appraisers. The fact that one chooses to have stability and a salary, and not have to keep up with IRS BS does not make them a 'skippy' - ugh I hate that term. Judge folks based on their performance - not what entity they work for. I know appraisers who do strictly AMC work that write beautiful reports - and I know folks who strictly do small bank/portfolio work that write ghastly reports.

 

[CGinMN]

FTR, I wasn’t (and I didn’t see anyone else here) dissing staff appraisers, just saying that they appear to have less independence with an extra layer of pressure.

 

[shrubberyvaluation]

The appraiser licensing laws of your state stipulate USPAP as being the minimum standard of conduct.

As there is no alternative standard referenced in the law to which your complainant could cite.

Bottom line, if there is an error in the information an appraiser is using from their public records feed or the MLS or an inspection report, that error is not the fault of the appraiser. It's beyond their knowledge or control.

View attachment 59267

Unless we have better information that the information is incorrect. For example if tax records say 800 sq.ft. but there was recently a second floor addition where it is most likely 1,600 Sq.Ft. we should not just blindly use tax records, especially when it is clear they are way off.

 

[DWiley]

FTR, I wasn’t (and I didn’t see anyone else here) dissing staff appraisers, just saying that they appear to have less independence with an extra layer of pressure.

Actually, the situation can be set up so that staff appraisers have an extra layer of insulation from pressure

 

[djd09]

Definition of due diligence​

1 law : the care that a reasonable person exercises to avoid harm to other persons or their property

would a court find it reasonable that an appraiser go look at the property they are appraising. i think so

 

[George Hatch]

I was far more isolated from the loan originators when I worked on staff for a bank than when I worked for fee shops, both before and after my stint at the bank. Conditions can certainly vary from one operation to another, but at the bank I worked for the loan originators weren't allowed to call the appraiser who was working on their deal nor were they even allowed to step foot off the elevator onto our floor. If they had a beef with an appraisal it had to go through their VP to our VP on a peer-to-peer basis. And our VP always defended our work unless we had made an obvious and significant mistake.

I would go so far as to suggest that the primary factor in determining how much stress will be involved at a staff job is the level of support there is at the institution for due diligence functions including the appraisal function. If the Chief Appraiser is effectively subordinate to the VP loan production then the appraisers will get treated like dogs and it will be a constant fight. If they're actually equal in authority then the appraisers will not get hassled every time they say "no".

 

[George Hatch]

Definition of due diligence​

1 law : the care that a reasonable person exercises to avoid harm to other persons or their property

would a court find it reasonable that an appraiser go look at the property they are appraising. i think so

What's reasonable in an assignment is already laid out in the SOWR. The fixed/immovable external benchmark you seek doesn't exist.

 

[djd09]

you were a staff appraiser. that explains alot