Freddie Mac vs Appraiser Bias

[Dublin ohio]

YES
In the BIG Picture and in least...
I hope for : separation & disclosure of Roles.
Like in : You DO you and I'll Do me.
Except it seems : the inspectors will have No Name, No License, No Coverage, Do I need a rider on my E&O?

How do I know. I did a little research (I am an appraiser). The info I found was in xls format. Too large to post.

 

[DWiley]

I mean no disrespect DW, but the biggest reason for appraisal lawsuits today (according to LIA, OREP, and others,) involve disagreements of the GLA in measurements.

I admit to confusion. Taking the statement above as truth, then why would an appraiser not want to transfer that liability to another party by having that third party measure?

 

[ramrcdk]

I admit to confusion. Taking the statement above as truth, then why would an appraiser not want to transfer that liability to another party by having that third party measure?

Will the THIRD PARTY role be fully-disclosed. Similar to Page 4-5-6 of the 1004 Form?

 

[Zoe]

Again, it’s wasting money. The appraiser is already there and predominately qualified for the inspection. Now, we are adding a new personal visit from God only knows who? Real intelligence applied. LOL

Many in this thread have offered solutions if they think appraiser has been negligent.

Drop the appraiser. Train the appraiser.

This is totally UNSUPPORTED BS in my book.

 

[George Hatch]

Whether the form is set up for it or not, it is still the appraiser's obligation to provide the necessary disclosures. Not to mention it being in their own best interests to clarify the details involved so that nobody reading the report can get the wrong idea about what the appraiser did/didn't do.

 

[J Grant]

I admit to confusion. Taking the statement above as truth, then why would an appraiser not want to transfer that liability to another party by having that third party measure?

But does the third party take liability? They dont' sign the report and are not licensed, their name may not even be in the report. Who could even find them to chase them down about it? Are they going to carry insurance? Or does the company that hires third party take lability for a bad result ?

I personally am happy to shed that liability, though in almost 30 year career never had a problem with it.

 

[Zoe]

It must be nice living under a govt umbrella. Taxpayer bailouts is only thing that kept GSE’s floating. I would call that a political bailout. This is crap.

 

[Zoe]

I respect Danny. He is wrong as wrong can be here for the whole nation on the approach he is taking. It is based on unsubstantiated and unsupported anything.

It’s like extra extra extra ordinary assumptions

 

[DWiley]

I respect Danny. He is wrong as wrong can be here for the whole nation on the approach he is taking.

You think testing something and looking at the resulting data is wrong? What alternative approach would you suggest?

 

[Zoe]

Real estate agents post things all the time that are inaccurate. GSE’s bought fraudulent loans all the time. Probably still buy fraudulent loans.