Freddie Mac vs Appraiser Bias

[Sadie]

I believe that the bottle neck occurs at the point of inspection....
Most, if not all, appraisers want to bundle as many inspections in the same place on the same day...
So they'll put off an inspection until they can bundle 2 or more inspections....

Speak for yourself

 

[Tiffany Gibbons]

I believe that the bottle neck occurs at the point of inspection....
Most, if not all, appraisers want to bundle as many inspections in the same place on the same day...
So they'll put off an inspection until they can bundle 2 or more inspections....

I was never allowed to do this when I worked for a company (though we all kind of specialized in an area and I did one county nobody else wanted to do) but if an ERC came in, one of the 2 of us that did those would do it, no matter what area. It's always been faster, faster, better, more. And VA would not stand for that. 48 hours to set appointment unless house is not ready, etc. YMMV.

 

[George Hatch]

I can’t speak about the failures of USPAP. Didn’t you say that was your department?

USPAP establishes a bare bones minimum. It is not intended to establish an aspirational best-practices ideal. "These are the minimums required as applicable. Everything above and beyond that is user-oriented, and once so identified also becomes required for that assignment"

You are 100% free to promulgate the "no-desktop" rule. For your own work. Nobody is going to criticize you for that decision. What you are not free to do is to unilaterally impose that requirement on any other appraiser or any other client type.

There is NO WAY USPAP could ever have been configured to require personal physical inspection by the appraiser as an appraisal standard for all appraisal assignments. For example, in certain cases we don't even have an existing structure to inspect.

 

[chad hampton]

Actually, I stand corrected, USPAP does state that when an inspection is required, it’s considered significant. At least one of the prior 12 versions of it did.

 

[djd09]

Critical? So critical that USPAP has never required it, and formal training on property inspection has never been a requirement for licensing/certification.
You have data that shows that personal inspection by the appraiser is critical? Or, just a belief?

Comment on (i)–(v): An appraiser may use any combination of a property inspection, documents, such as a legal
description, address, map reference, copy of a survey or map, property sketch, photographs, or other information to
identify the relevant characteristics of the subject property.

a kool aid party

 

[Fernando]

Only 15% of nail technicians are male, where's the outrage? Are people rioting? Anyone can do anything they want for a living, it's just a little more difficult. You have to fight harder for respect in your field.

Certain jobs are predominantly female which hinder misogynist men in getting into the field. Nursing is a well paid profession but not many men become nurses. Missed opportunities for misogynist men.

 

[Tiffany Gibbons]

Critical? So critical that USPAP has never required it, and formal training on property inspection has never been a requirement for licensing/certification.
You have data that shows that personal inspection by the appraiser is critical? Or, just a belief?

So why did I have to go through all that training with a Certified Appraiser signing all my reports, take all those QE classes, and have 1500 hours with my supervisor (after I'd already worked as an unlicensed "assistant" for 3 years before I could go out on a single assignment?. Why were you a state investigator again? Please no more evil smiley face responses.

 

[George Hatch]

I'm pretty sure that if you thought about it you'd be able to identify the actual reason for why your first solo inspection didn't occur until after you received your license.

It wasn't because of any requirements or limitations in USPAP
It wasn't because of any requirements or limitations in the AQBs "Real Property Appraiser Qualifications Criteria"
It (normally) wouldn't have been as a result of your supervisor trying to oppress you.

 

[ramrcdk]

How would that address the capacity issued that surfaced in 2020 and 2021?

Hi DW. Do you mean 20-21 Covid? Wasn't that when the majority-in-bulk of Waivers were provided for loans?
Rates were extremely favorable & RE was in overage of demand where buyers were paying cash dollars to sellers well-above the Contract Price and in cases, the Loan Amount, etc. BUSY Times!
A Specific Time of an Unusual Circumstance, a killer virus, very dark unknowns, and the "New" exception-use of EA-assumption.
Addressing "capacity" in terms of shortage: Would "better" communication & education have aided in
"Acceptance of 3rd Party info', describe via examples, use is compliant to USPAP, + with use of the extraordinary assumption" made available during The Covid rush.
AND specific to your question: do we want our future judged & changed by Covid, A Unique Two Years +_

Don't we think 2020 & '21 were crazy covid-exceptions?
That should not be used as a reason for a Major Change.
BUT Let's not overlook the mass motivation towards Modernization.
So many Influencers have spent mass-mega' dollars of RISK on these Third Party Products. Un-telling what's happening behind the curtain.

To NOW: Again, Crazy Times in the Opposite Directions Of : Real Estate, Loan Rates-, more rate hikes, economic/world fears near hysteria, defaults, etc.
Wouldn't, Shouldn't we tighten our credibility?

Hopefully Helpful: Perhaps the INDEPTH release of information of WHO are & HOW are those TRAINING The 3rd Party Inspectors and and ALSO HOW the 3rd Party gets paid?? Appraisers have been named Guilty fitting biased-circumstances into PROFIT.
How will the 3rd Party Profit: number completed in a day? bonuses for DOING more than 10 in one day?
See where I'm going? Profit: Perhaps if they RUSH : IT WILL BE like us-appraisers RUSHING to get a RATING on a subject-comparing Form.
As was posted, it has become a BIG Bias Problem again spotlighting Appraisers.

Swerving & deflecting & ... (seemingly shaming) releasing Articles & News informing appraisers of How Biased We Are. Biased in so many ways and now even includes the GSE UAD Rating system. A Operable System in place to DING appraisers that have inaccurately rated PEER -rated & Inspected properties.
Did UAD, in fact DING...enough? Was it broken?
It this what subliminal brainwashing feels like? ...bias this... bias bias that...bad bad appraiser...

Reference: Questions of Post #252.

In a Post, I read: it was not a majority of bad rating appraisers that has caused this alteration of the inspection process to use of : 3rd Party Inspectors.
Communication is education. SO what is it??? Shortage??? Perhaps, but not by a Majority, USA.
The Opposite is in play @ to many cities: where AMCs control the orders & fee offer. If Shortage implies Delays, it is very likely the Delay is a result of the SOW not being reasonable for the Low(er) than Typical fee demand. SO, Instead of the AMC
accepting the Fee increase requested/per specific case they swirl around for days-on-end trying to locate "any Body" with a license.

So there is my two-cents. Just needed to spill.
With Respect, Ram

 

[djd09]

how do select comparable sales without knowing the condition? how do you know the condition without an inspection? how do you know the inspection is "reliable" without verifying the data. all we need is a secret three year hybrid pilot and start pouring the kool aid