Gated Community

[Couch Potato]

Do you think an appraiser should perform a field review (FNMA 2000 Rev 3/05) when he/she cannot gain entrance to the development. I'm seeing a lot of these.

SOW states "the appraiser must, at a minimum, (2) perform a visual inspection of the exterior areas of the subject property from at least the street", which he/she has not done.

Certification #1 states "I have, at a minimum, developed and reported this appraisal feld review in accordance with the scope of work requirements stated in this appraisal field review report", which is false.

Disclaimer: I have not read anything between this post and the original post so I am sure someone has already given this same answer.


Basic principle of appraisal report writing, don't say you did anything you did not do! In both states where I am licensed, making false statements in an appraisal report performed for lending purposes constitutes mortgage fraud and may be prosecuted as such. Anyone defending such actions should lose their appraisal license IMHO.

 

[J Grant]

Couch , that link adresses PDF and reproduction of legal mortgage dogs and is not addressing content of appraisal reports .

 

[Couch Potato]

J- the whole idea is to not get even close to the judge. Once you're in front of the judge, you've lost, even if you win.

Memorizing that sentence ought to be required of every high school sophomore in the country. :new_all_coholic:

 

[Couch Potato]

Couch , that link adresses PDF and reproduction of legal mortgage dogs and is not addressing content of appraisal reports .

Obviously you failed to read and comprehend my post.

 

[J Grant]

Couch I was referring to your earlier post about reproducing legal dice Fannie Mae where you responded to Denis .):

 

[23Degrees]

Couch I was referring to your post about reproducing legal dice Fannie Mae where you responded to Denis .

It does include Appraisal Forms. Click on "Single-Family Forms & Documents Search" on that page under the heading "Legal Document Search" and then search by form type. Appraisal Forms are included.

Unless it is clear to someone that they absolutely can alter the pre-printed form language without worry when the deal ends up in Fannie's mailbox then they need to think twice before doing so. Not a risk I'll be taking but best of luck to those that do so.

 

[J Grant]

It does include Appraisal Forms. Click on "Single-Family Forms & Documents Search" on that page under the heading "Legal Document Search" and then search by form type. Appraisal Forms are included.

Unless it is clear to someone that they absolutely can alter the pre-printed form language without worry when the deal ends up in Fannie's mailbox then they need to think twice before doing so. Not a risk I'll be taking but best of luck to those that do so.

There is a differene between altering forms for legal use such as distributing them and circulating them as altered versions from the original, and an appraiser developing an appraisal (content) on a form.

The appraisal form is different from other legal mortgage doc forms which convey preprinted information.

The appraisal form is a combination of preprinted verbiage and the appraiser's response to the verbiage, original input, variance from the printed verbiage etc.

Since Fannie Mae underwriters accept origination driveby appraisals with no subject photos when the appraiser can't access susbject and discloses it, as well as review appraisals with this disclosure, Fannie approves the certification with this limitation and disclosure on appraisals and appraisal reviews.

 

[J Grant]

Disclaimer: I have not read anything between this post and the original post so I am sure someone has already given this same answer.


Basic principle of appraisal report writing, don't say you did anything you did not do!

But the appraiser DID do what the certification stated...the appraiser drove to the subject and inspected what was visible from the street. If on arrival, the subject house itself was not visible to the appraiser, that is not the appraiser's fault...the appraiser STILL performed the act stated in the certification.

The result of following the certification is then reported, that the subject house was blocked from view, whether that be by a security gate/guard denying access or because the owner planted a huge hedge blocking the house from the street. In other words, the fact that the subject house was not visible from closest point of legal access is the RESULT of the appraiser following the certification.

Next, the appraiser reports the results in a disclosure, such as the subject house could not be viewed/photographed due to security gate.

In both states where I am licensed, making false statements in an appraisal report performed for lending purposes constitutes mortgage fraud and may be prosecuted as such. Anyone defending such actions should lose their appraisal license IMHO.

The appraiser did not make a false statement. The appraiser states they followed the certification, and reports that on arrival at point with closest legal access, the subject house was not visible to the appraiser. Fannie has been accepting and approving and underwriting appraisals with these disclosure to the cert for years, so what grounds that has about losing their license is not clear.

 

[PropertyEconomics]

Lying to get in is a lot less 'bad' than lying on the certification, in my book. But like I said, you do it your way, and I'll be happy to watch the board hearing.

So now appraisers on this forum are arguing degrees of lies .... a liar is a liar .... we had this in another thread .... if you lie you have neither professionalism or ethics ....

Yes it is that simple.

 

[biker4ever]

2 ways to get in the gate. Find a listing with a gate code or time it right & follow in.