First Hybrid request.

[J Grant]

Are borrowers given a choice to use a hybrid where the appraiser does not inspect vs. an appraisal where the appraiser inspects?

 

[chad hampton]

The difference between what you see and what I see is that I see it all as being the same thing. Different users have different expectations, different SOW result in different levels of reliability.

The instruction on the SOWR literally involve 3 different examples of "inspection" presenting the possibility of 3 different outcomes due to the usage of more assumptions vs fewer assumptions. None of your users have the same expectations for your confidence interval for every assignment. They all vary based on the assumptions and limitations that are involved.

Only djd apparently thinks every appraisal is expected to return the same number regardless of the assumptions and limitations involved.

Look, I don’t really spend much time thinking about all that. All I know is an appraiser should be in control of the appraisal the same way every other licensed professional is in control of their profession. And when somebody brings up that, maybe it’s OK for an unlicensed person to prep someone for surgery instead of the registered nurse or it’s OK for an Uber driver to administer the Novacaine before the dentist comes into the room, these are things that professional boards should have problems with and really shouldn’t see the light a day unless there’s an ulterior motive behind them.

Which, of course in this instance there is

 

[George Hatch]

You ain’t kidding. I’d go as far as to say they are sworn enemies at this point.

How many times have I told you guys that the GSEs are not an ally to the appraisers. Not an appraisal entity, not particularly concerned with the well being of appraisers, etc, etc.

No different than BofA or Wells. Nobody would expect the lenders to stick up for the business interests of fee appraisers, either.

 

[George Hatch]

how can you dislike the gse's when they cost you, your kids, grandkids, great grand kids and so on the biggest bailout in the history of the world

That's a valid question and topic of discussion, but it's immaterial to the issue of what is/isn't an appraisal.

 

[alebrewer]

Are borrowers given a choice to use a hybrid where the appraiser does not inspect vs. an appraisal where the appraiser inspects?

yes.

 

[TerryRohrer]

Are borrowers given a choice to use a hybrid where the appraiser does not inspect vs. an appraisal where the appraiser inspects?

Who are the intended users?

 

[George Hatch]

Look, I don’t really spend much time thinking about all that. All I know is an appraiser should be in control of the appraisal the same way every other licensed professional is in control of their profession. And when somebody brings up that, maybe it’s OK for an unlicensed person to prep someone for surgery instead of the registered nurse or it’s OK for an Uber driver to administer the Novacaine before the dentist comes into the room, these are things that professional boards should have problems with and really shouldn’t see the light a day unless there’s an ulterior motive behind them.

Which, of course in this instance there is

The appraiser is in complete control of their conduct and their own work; what they actually do. "The appraisal" does not include the PDR itself, which has its own individual origin. The appraiser is in no way responsible for the content or the accuracy of the info in a PDR.

 

[J Grant]

Curious: in your opinion, does a prospective homeowner inspect the property prior to purchasing it (typically)?

A prospective buyer wants to see the property whenever possible. If they say they are inspecting the house for their own personal use, the buyer is not representing themselves as a professional or sending the results of their visit to a licensed professional to rely on. (typically)

 

[chad hampton]

If the “words” of USPAP can be distorted into saying an uber driver can perform an appraisal service, perhaps the words of USPAP are what should have been changed and not the AO.

 

[alebrewer]

A propsp[etoive buyer likes to see the proeprty if at all possible. If they say they are inspecting the house for their own personal use, the buyer is not representing themselves as a professional or sending the results of their visit to a licensed professional to rely on. (typically)

They're not a professional, and yet they're inspecting the house. Exactly what I was stating. Thank you.