FHA Appraisal Audit/review - Punishment

[theroncase]

Lawsuit

Google

"Ted Whitmer HUD lawsuit"


for some interesting reading on this issue, I haven't found where it was resolved yet, but I'm still reading

 

[Terrel L. Shields]

I think to train an elephant you beat him on the legs until he bows....same principle

They train you so you have a Pavlovian response. The bell rings next time, you slobber.

 

[nicholz12]

Perfect?

Another fine reason.....

It does sound like we need to hear "the rest of the story".

Appraisers are no longer hired for their expertise but rather for their ability to write a perfect report.

Who amongst us is 'perfect'. Bailed out Fannie & Freddie calling the shots. Yes, indeed.

 

[chad hampton]

Example 2: "MLS shows sale # 1 GLA at 1,825sf, whereas pub records shows 1,750sf". Again, this was addressed/commented on, but apparently not well enough to appease the FHA gods. And more stuff like this was found, etc etc subjective minutia.

What a joke. I don't even check what public records has for GLA of comps. It's irrelevant - the comps were marketed and sold for what the GLA showed in the MLS - that's what the buyer thought the house was. So what if the GLA in public record is different? And in your case different by less that 100 sf?

I do check for the subject home in case i made a mistake measuring, but usually the public records is wrong.

When I have noticed a difference, that's usually my ony comment - public records is incorrect, which is typical.

In this profession, everyone is out to get everyone. And those of us that are actually in the game and don't hide behind a review desk are the ones that pay the price.

 

[panappr]

Just think about the other 149 poor souls who got the same audit treatment..... word travels fast, they may soon have trouble finding FHA appraisers. Although that doesn't help in this case. I'm sorry to see the profession evolving this way, makes me want to quit doing GSE work.

 

[factsandtruth]

Just think about the other 149 poor souls who got the same audit treatment..... word travels fast, they may soon have trouble finding FHA appraisers. Although that doesn't help in this case. I'm sorry to see the profession evolving this way, makes me want to quit doing GSE work.

I don't wish an audit on anyone but fees will go up if there are less FHA appraisers to go around...A push for quality slows down skimpies....what AMC wants skimpy to slow down at all? AMCs want more faster appraisers in the profession by any means necessary(they hate 2015 rules)! "less appraisers nightmare... starring an AMC near you"

 

[factsandtruth]

God bless me, if I get audited I'm raising my fees and slowing down...If others get audited believe me they are going to do the same or risk their lic? No one wants to get blacklisted for appeasing a low fee AMC

 

[factsandtruth]

Typing and driving...NO ONE

 

[factsandtruth]

Just think about the other 149 poor souls who got the same audit treatment..... word travels fast, they may soon have trouble finding FHA appraisers. Although that doesn't help in this case. I'm sorry to see the profession evolving this way, makes me want to quit doing GSE work.

All this talk I think should make everyone paranoid....I'm glad we have stand up people in our profession to let the facts be known...the appraiser forum is a valuable tool. It's too many risk out there to not be informed! God bless all my fellow appraisers...take your time.

 

[OSU Beavers]

I is kind of hard to squeeze fees out of FHA first time home buyers.