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Exposure Time

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For the remedial readers that think USPAP is more difficult to understand than parts of the Bible, I suggest starting with

http://www.lulu.com/product/paperback/USPAP-in-plain-english-(2008-2009)/2819874

and work your way forward, just paying attention to the updates in the more recent versions of USPAP, since it was last printed for the 08-09 USPAP.
 
Speaking of USPAP nonsense, I sure miss "Departure," whatever the hell that was....:clapping:
 
George - I was in a meeting when an appraiser who claimed to be a fannie mae reviewer claimed that he could find a violation in USPAP in every single appraisal but that he didn't try to nitpick but flatly believed that no report was truly 100% compliant with USPAP.

When I applied to upgrade my license many years ago, I submitted a report where in the reconciliation I suggested that there was "Limited market data" for the property type. This was 95ish...the reviewer pounced on that and claimed I had provided a "limited" report in violation of FIRREA....my supervisor was furious. She had been a commercial appraiser for 2 decades.

When I submitted a second, the reviewer claimed it was "OK" but that I needed to rework my certifications blah blah blah. I sent that report and comments on to a USPAP reviewer who sent it back a couple weeks later and claimed he didn't have a clue what the first reviewer was talking about.

What kind of ethics document is there where violations cannot be agreed upon or at least the claimant provides little or no support for their assertions that the report violates USPAP... reminescent of a review from a "hotshot" years ago who claimed I should place my photos near the front of the report instead of in a rear addendum, so that the reader would not be "misled" about what the property actually looked like...
 
George Hatch said:
BTW, anyone who thinks 999 out of 1000 appraisals has USPAP "violations" doesn't get out much and is underinformed. I've read lots of USAPAP compliant appraisal reports.

My advice is to stop being paranoid and do some reading for yourselves. SR-3 ends on page 38. It's not too much material to at least try to understand.
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Not so sure any demo report is bullet-proof from alleged USPAP "violations." While USPAP does not require a perfect report, qualified reviewers can differ over how far perfection is missed, straying into the danger zone of USPAP violation could be seen by reviewers on almost any report by reviewers operating with a keen eye for violations.
 
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My advice is to stop being paranoid and do some reading for yourselves. SR-3 ends on page 38. It's not too much material to at least try to understand.
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Those 38 pages are followed by at least a hundred more pages of advisory opinions, statements, and FAQ's.

You see, those 38 pages are so clearly written that they take all that additional material to understand them. That's why there are footnotes at the bottom of practically ever page of USPAP because the writers can't think clearly- in a logical way. So rather than being able to read straight through USPAP, a page at a time, you have to jump back and forth if you follow the footnotes.

Better yet, many of those same standards were written so well that they get changed in the next version ie- exposure time, prior services that both initially did not require reporting, but now do. How hard would it have been to require the reporting the first time around?

USPAP has been drafted by idiots.
 
George Hatch said:
BTW, anyone who thinks 999 out of 1000 appraisals has USPAP "violations" doesn't get out much and is underinformed. I've read lots of USAPAP compliant appraisal reports.

My advice is to stop being paranoid and do some reading for yourselves. SR-3 ends on page 38. It's not too much material to at least try to understand.
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Yes and no. Depends on the reviewer. I could use USPAP against the UAD formatting to be misleading or some of other Certs.

Remember, USPAP says that we are to follow the lender's rules? Ok, now that short document just swallowed all of Fannie, Freddie, FHA, and a whole host of dum bass AMC rules and stips. You don't follow them, you just broke a USPAP rule.


So...1000 out of 1000 is more accurate. m2:
 
Maybe some appraisers can't distinguish between guidelines and rules? m2:

For example, the tile of one GSE's document:

Selling Guide :Fannie Mae Single Family

Published December 20, 2011
 
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