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Emergency... What Do I Do.

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Suzanne K Hansen

Sophomore Member
Joined
Aug 31, 2002
Help.

I did a 2075 on a house a month ago. I'm a trainee. My supervisor reviews and signs all of my work. On the 2075, my supervisor did not do the drive by with me. The underwriter at Provident will not accept the 2075 w/o the supervisory inspection. Today I was asked to provide a document stating the Supervisor inspected the property with me or to redo the appraisal and check that the supervisor did inspect the property. The loan lock ends today. The lender says I will be costing him $2500 if I don't check the box. How do I deal with this?
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Simple, You can be ethical and get your supervisory appraiser to drive out there and then check the block that he did.

Or much easier, you can pass the buck to him, he can be ethical or unethical and check the block that he did wether he did or not and let him send it on into provident.

Its not your worry.

p.s. the LO is probably lying. If he was really going to lose all that money he would call your supervisor directly.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
I would ask the supervisor to inspect the property that way he/she is ethical and can sign that he/she did inspect the property. As far as the LO goes he/she losing $2500 today well I have heard that way to often. Two weeks ago was told that they needed a condition or the loan would not fund. Well 2 weeks later the loan still has not funded because of other problems.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Your supervisor needs to inspect the property so s/he can sign it as such. Signing supervisor Did inspect when s/he didn't is beyond unethical.
 

Suzanne K Hansen

Sophomore Member
Joined
Aug 31, 2002
update:

The broker says I have a responsibility to him to provide him with this 2075 with the supervisor inspection. Provident won't speak to a trainee (prior to June 1 when they changed their policy) I had on the order of 30 appraisals in the previous 6 months go thru this same broker and Provident without a hitch. Provident says the signing person on the right (supervisor) doesn't do anything unless they inspect the property. My supervisor says it's uncessary and won't do the driveby. Broker says he won't send me anymore business (I have 6 appraisals inspected and in progress ( not for Provident). I wonder if he wants me to finish those?

I feel like telling them all where to get off.
 

Suzanne K Hansen

Sophomore Member
Joined
Aug 31, 2002
PS, it has never crossed my mind to check the box and send it in. I told all of the above that that would be fraudulent. Provident even said just chek the box and send it in. I said that was asking me to commit fraud.

Sooooooooooo

And all for a 2075.

I guess underlying all of this is what is the big deal over a 2075? Why is Provident so unreasonable about this? It's not even an appraisal. Anyone could do it. What am I missing?
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
I don't understand it either. Stick to your guns and welcome to the real world of appraiser pressure.

I'm very sorry this is happening to you.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Originally posted by Suzanne K Hansen@Jun 26 2003, 07:25 PM
PS, it has never crossed my mind to check the box and send it in. I told all of the above that that would be fraudulent. Provident even said just chek the box and send it in. I said that was asking me to commit fraud.

Sooooooooooo

And all for a 2075.

I guess underlying all of this is what is the big deal over a 2075? Why is Provident so unreasonable about this? It's not even an appraisal. Anyone could do it. What am I missing?
I dont understand your supervisor. Provident can change the rules anytime they want to. You either comply with there rules or drop them as a client, period.
 

Francois K. Gregoire

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Originally posted by Suzanne K Hansen@Jun 26 2003, 06:21 PM
Help.

I did a 2075 on a house a month ago. I'm a trainee. My supervisor reviews and signs all of my work. On the 2075, my supervisor did not do the drive by with me. The underwriter at Provident will not accept the 2075 w/o the supervisory inspection. Today I was asked to provide a document stating the Supervisor inspected the property with me or to redo the appraisal and check that the supervisor did inspect the property. The loan lock ends today. The lender says I will be costing him $2500 if I don't check the box. How do I deal with this?
Suzanne,

Welcome to the real world of pressure on appraisers. You seem to have your head straight and appear to be taking the right approach. The ability to say "no" is not something that can be taught, but it is required of every thinking and ethical appraiser. Don't fall for the attempt at the guilt trip about the broker's potential loss of income. You'd be surprised at the number of disciplinary actions resulting from appraisers "just helping someone out of a jam".

Sorry to hear your supervisor is taking such a hard line on this. From this vantage point, it appears the ball is in his court.

It's a sure bet the higher ups at Provident would be interested in knowing about the integrity of the broker selling them loans.

One last suggestion. Since you're earning your stripes, take Andrew's advice and sign the Appraiser's Petition.

Frank
 

Suzanne K Hansen

Sophomore Member
Joined
Aug 31, 2002
Andrew said:

"I dont understand your supervisor."

I don't understand appraisers who won't take on trainees. My supervisor is one of about 10 Appraisers in this county who take trainees. There are currently 250 licensed trainees in this county. He has decided to take on trainees to teach the new generation of appraisers the ins and outs of ethical, quality appraising, in a very challenging period of our profession. He has several brand new trainees with whom he spends time. I am considered more experienced having over 100 appraisals under my belt and I work more independently. He still reviews with me all of my appraisals...even drive-bys.

Andrew...How much time do you spend training the next generation of trainees?

Andrew wrote:
"Provident can change the rules anytime they want to."

Provident did not inform any of its approved appraisers of the changes. Provident has made it retroactive to cover all appraisals even those completed before the change and then submitted with a loan package. Provident did not inform its approved brokers of the change.

"You either comply with there[sic] rules or drop them as a client, period."

The broker (not Provident) is my main client and appraising is my sole means of support. For Trainees who develop their own clients, it is not very smart to "drop" a client. If Brokers don't especially like to hire trainees and to find one willing to work with a trainee is a real treasure. That said, while continuing to maintain ethical and competency requirements, I've been able to find several loyal clients who think my work is good enough and fast enough to accept me as their primary appraiser.

I would love to see more of you who are clearly very experienced, take on a trainee. Let the trainee set up their own shop as I have, buy their own software under your master license, create their own client base, and all you have to do (except for Provident) is help them get started, (about six weeks of inspections (for a trainee that's usually about 10 appraisals), review their appraisals, help them out with tricky ones, and you reap the benefit of 50% for each appraisal and a whole lot of satisfaction knowing you are contributing to correct and ethical training of the next generation.

There is a lot of conversation that goes on here about maintaining the standards of appraising. Talk is cheap.
 
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