Do I have an "Ethical Obligation"?

[Fernando]

That's the problem with appraisers holding USPAP as the bible. They don't need to think, just follow USPAP and not get in trouble.
Real appraisers would know what relevant information needed to be put into the report.

 

[sputnam]

That's the problem with appraisers holding USPAP as the bible. They don't need to think, just follow USPAP and not get in trouble.
Real appraisers would know what relevant information needed to be put into the report.

'Nando, as previously stated, the financial arrangements/situation of the people involved is not relevant to the market value of the subject property. Or in other words, while interesting maybe, it's none of your professional business.

 

[djd09]

mortgage fraud can turn into wire fraud...when you deal with criminals dont be surprise...you know kinda like with the unethical appraisal stakeholders

 

[shrubberyvaluation]

So... do you have specific verbiage when the nature of the transfer seems obvious but you dont know for sure, e.g. "the transfer appears to have been..." Or, can the appraiser's SOW include a blanket disclaimer that pertains to the status of issues that must be addressed, without definitive info? [I'll prob get blasted for lack of competence, or courage, but it's an issue that confuses me each time I analyze prior transfers... and as an aside, although I love love Spark, it makes me wonder whether the Spark default protocol to download all priors is sufficient. Your insight greatly appreciated as always.

I say appears to be based on the deed, or based on whatever else I think is the best source.

 

[ZZGAMAZZ]

When I was talking with him face to face, he though the rents were $20K, then I got the message they were $30K. I only have 1 rental comp that is close to the dwelling size, all others are around the 5,500 sf mark. This is the land of big homes, but most are owner occupied. You will get the occasional dwelling that is similar to what I'm dealing with that's rented but very rare. I have also seen properties that do that same thing, the owner reports to me what they want (unless I can talk with the tenant) and the market rents are lower. The lender is just going to beat me up on this report...I can see it already...no matter how much CYA I put in this report.

I would describe ur efforts to obtain a copy of the leases to confirm the verbal info. I appraised a shifty little duplex recently, each unit about 800 sf with 2/1.1, each of which was tenant occupied with man, woman, w kids. Borrower tells me that each unit has TWO active leases, even emailed me FOUR current leases. Didn't affect results of the rental analyses. I got to borrower eventually, who confided that the loan officer advised her to create that lie to better qualify for the refi. So called reputable lender. Seems that recently a new wave of underbelly clients have emerged that are as corrupt as those who coerced us early 2000's...