Feb 4th GSE requirements

[djd09]

nothing says independent then new forms rammed down your throat...best would be appraisers just used a generic GP form...watch the crying begin

 

[glenn walker]

They don't accept those forms.

 

[djd09]

no really...

 

[djd09]

hey freddie guy...do all your mortgage broker appraisers buddies use 3.6???

 

[DWiley]

nothing says independent then new forms rammed down your throat...best would be appraisers just used a generic GP form...watch the crying begin

As far as I know every residential appraiser is free to write in whatever format they choose. Over a 29 year period I did lots of narratives and other non-GSE form reports. Of course, the clients are just as independent to only buy reports that meet their formatting needs/desires - just as we all are when we are a consumer/client. I know residential appraisers who have not used a GSE form in years.

 

[djd09]

As far as I know every residential appraiser is free to write in whatever format they choose. Over a 29 year period I did lots of narratives and other non-GSE form reports. Of course, the clients are just as independent to only buy reports that meet their formatting needs/desires - just as we all are when we are a consumer/client. I know residential appraisers who have not used a GSE form in years.

i will keep that in mind when the all knowing gse's need another bailout...

 

[djd09]

and a good job of not answering the question...well anyways how many waivers did you do today???

 

[Phlyguy]

I agree. The UAD (old and new) does not require any sort of specific adjustments. I see lots of reports with differences in fireplaces, half baths, decks, etc. but with no adjustments.
No one should let the reporting format dictate their adjustments.

What a gross snarky answer.
Do you really agree with what I said?
The topic at hand is what the new form requires, not whether the GSEs require a fireplace adjustment.

 

[DWiley]

What a gross snarky answer.
Do you really agree with what I said?
The topic at hand is what the new form requires, not whether the GSEs require a fireplace adjustment.

Snarky?

You said - "The point is the appraiser is a licensed professional being asked to value a property, different markets value different things and it should be the market (not a form) that dictates what is noteworthy enough to be measured and adjusted for."

I just am pointing out that nothing in UAD (old or new) forces an adjustment for anything. As far as reporting things that you don't think are important, but the user does, that has always been the case in appraisal reporting. That is why USPAP reporting standards say that content must be meaningful to the client.

 

[Zoe]

Value is just one of the collateral-related risks. Appraisal reports are used to address value, but they are also used to address risks related to condition and marketability.

Don't belittle your history in public trust. It don't become your position. It seems now you don't trust appraisers anymore.

I won't drive the dagger in and ask did you have anything to do with all the fraudulent loans that were sold in secondary market? You can answer if you like.