HELP! The orea is killing me.(California)

[Daniel Su]

I was send my appraisal license application last years. Till last month the OREA tell me that my report is not showing any proving of my assistance. one of ""enforcement"" said she is going to help me and want me send another report to her, after I send to her here is the e-mail she send back to me::

The only place your name appears is on the cover page and at the top
> of the form above the file number. This is not adequate to inform
> the reader of the report that you provided significant professional
> appraisal assistance and is not in compliance with USPAP
> requirements. You will need to remove these from your Log.
> Additionally, I recommend that you and your supervisor review
> Standard Rule 2-2(b)(vii) and advisory opinion 161.


So I find another appraisal report and send to her, this time I find an report that include these in my report::

"“IT IS NOTED THAT DANIEL SU ASSISTED SIGNIFICANTLY WITH THIS REPORT BY PERFORMED THE FOLLOWING TASKS UNDER THE DIRECTION OF THE APPRAISER:FANNIE MAE FORM 1004/MARCH 2005 or FREDDIC MAC FORM 70/MARCH 2005. CONSIDERED THE INTENDED USE/USER; RESEARCHED SUBJECT AND COMPARABLE SALE INFORMATION; PERFORMED ONSIDE INSPECTION; DEVELOPED THE REPORT; RECONCILED USING THE THREE APPROACHES TO VALUE; OFFERED A FINAL OPTION OF VALUE.""

and here is herrespond::

The reference to your participation would be adequate. However
please note for future:
1) only a licensed appraiser may make the final value conclusion if
the appraisal is to be used in a Federally related transaction;
2) the level of inspection (interior and/or exterior) should be
better explained;
3) the comments "reconciled using the three approaches to value"
should be more specific and applicable - only the Sales Comparison
Approach and the Cost Approach were developed in the attached appraisal.

Also note that the sole signing appraiser must adhere to all aspects
of the Appraiser's Certification. This means that your supervisor
would also have to inspect the subject and comparable sales if using
the FNMA forms.


OUCH NOW WHAT?? I REALLY NEED HELP. THE APPLICATION DUE DATE IS ALMOST NEAR. I NEED SOME ADVISER OR SUGGESTION.
m2:

PS::SOME PEOPLE AFRAID THAT MY SUPERVISOR DID NOT COME WITH ME THE ANSWER IS NO HE REALLY COME WITH ME TELL ME DO ALL THE WORK SO THEIR IS NO PROBLEM.(BUT I STILL ONLY GOT 10% OF APPRAISAL FEE x_x) HOWEVER RIGHT NOW I NEED HELP THAT IS THEIR AN POSSIBLE WAY TO FIX OR I JUST SEND TO OREA AS OFFICIAL APPLICATION AND SEE WHAT HAPPEN?

 

[George Hatch]

If your supervisor didn't provide you with the instruction necessary to properly document what you did and didn't do in all those assignments then they are failing in their responsibilities as an appraiser and as a supervisor. They shouldn't have signed even one report without those disclosures.

I don't even want to ask if your supervisor signed on the left without personally inspecting the interior and exterior of the property. I'm too afraid of what that answer might be.


At a minimum, USPAP requires your name be noted in the Certification; and the extent of your participation be summarized somewhere in the report. As the OREA rep rather helpfully noted, you should add a little more explanation about whether you physically inspected the interior and exterior, or just the exterior, and you might explain who did the physical measurements and diagram. Same thing with the approaches to value - did you perform the sales comparison and/or the cost approach and/or the income approach; and did your supervisor perform approaches on their own without your input?


Who did what. Did your supervisor physically inspect inside and outside or did they just do their thing from their office?

There is a new Advisory Opinion (AO-31) for this year. If you haven't already taken your 2008 USPAP update, you can look it up online at The Appraisal Foundation's website. Just click on the "Appraiser Links" button at the very top of the page and follow the links to The Appraisal Foundation, and from there follow the links to USPAP.

 

[Pamela Crowley (Florida)]

I am sorry this is happening to you, but you might want to take a good look at your supervisor(s) not handling your training as they should have. At this point, you might expect that the OREA will probably want to fully review a good number of your reports from your experience log. I would also expect there is a very real possibility that your supervisor(s) might be audited now.

Again, I am sorry about your situation. It appears there is a real possibility that your supervisor(s) did not teach you properly.

Moderator comment:
This thread is being moved to the California Forum section as it does not appear to be a matter that should be in the Urgent Help Needed section.

 

[CANative]

I've recently started working with a colleague who holds an appraiser trainee license. On page 3 of the FannieForm under the scope of work comments, I include the following statement (or variations on this theme depending on what the assignment involves.)

George or Pam... does this seem adequate?

Professional Assistance: xxxx xxxxxx, ATxxxxxx provided significant professional assistance in the development and reporting of this appraisal. Working under the direct supervision of the signing appraiser, xxxx xxxxxx measured and photographed the improvements and assisted in the on-site observations of the subject property and prepared a building sketch of the improvements, researched the sales and listing history of the subject property, researched and obtained relevant legal, physical, and zoning information for the subject property. Ms. xxxxxx, under my supervision, researched market data as described in the above scope of work description, interviewed listing and selling agents, selected possible comparable sales and listings for my final review and assisted in inspecting the comparable sales and listings. Ms. xxxxxxx prepared a written report of the appraisal. The supervisor reviewed the report making any necessary modifications, additions or corrections and then further discussed the entire process with the appraiser trainee. This is considered a complex assignment and 10 hours of qualification time was logged.

 

[Pamela Crowley (Florida)]

Professional Assistance: xxxx xxxxxx, ATxxxxxx provided significant professional assistance in the development and reporting of this appraisal. Working under the direct supervision of the signing appraiser, xxxx xxxxxx assisted with the measuring and photographed the improvements, assisted in the on-site observations of the subject property, prepared a building sketch of the improvements, researched the sales and listing history of the subject property, researched and obtained relevant legal, physical, and zoning information for the subject property. Ms. xxxxxx, under my supervision, researched market data as described in the above scope of work description, interviewed listing and selling agents, selected possible comparable sales and listings for my final review and assisted in inspecting the comparable sales and listings. Ms. xxxxxxx prepared a written report of the appraisal. The supervisor reviewed the report making any necessary modifications, additions or corrections and then further discussed the entire process with the appraiser trainee. This is considered a complex assignment and 10 hours of qualification time was logged.

 

[Mike Boyd]

If the trainee is a LICENSED trainee he or she should sign the report on the left side and the supervisor on the right side. By signing on the left, it can be assumed that he or she followed all USPAP guidelines and prepared the report completely. No further explanations of what was done by the trainee is necessary. By signing on the right side, the supervisor is stating that he supervised very aspect of the inspection and the report preparation. Again, no additional verbiage is necessary. The trainee's log will report how much time that trainee spent on each report. No further explanations are needed.

Apparently, Daniel did not sign on the left. That is where all the qualifying problems started. However, Daniel, in addition to all the appraisal training you need to complete, you should also take a few courses in English as a spoken language and English composition. You will have very limited success in this business until you improve your language skills.

 

[ZZGAMAZZ]

Daniel: The intrinsic value of our product is based largely upon the manner in which the report is written. To present a credible report requires the results effectively to be communicated to the client, to whom you're "selling" your opinion of value and the supporting data and analysis. That you conducted an "onside" inspection impinges the credibility of the report. That single word might lead the client to question the validity of the results.

The old "sticks & stones" adage doesn't apply to the appraisal industry.

 

[CANative]

That you conducted an "onside" inspection impinges the credibility of the report. That single word might lead the client to question the validity of the results.

Have you ever seen that trick where an entire sentence or paragraph has all of the words spelled with crazy letters except for the 1st and last letters which are correct? It can be read with ease.

In this metropolitan world I don't think bankers are too worried about precise grammar and spelling. The level of education in Asian countries today is astounding and makes us Americans look pathetic.

 

[Caligirl]

Additionally, I recommend that you and your supervisor review
> Standard Rule 2-2(b)(vii) and advisory opinion 161.


What is the penalty for the supervisor? Continuing Ed? Isn't he/she the one who should know what they are doing?

 

[Mike Boyd]

Have you ever seen that trick where an entire sentence or paragraph has all of the words spelled with crazy letters except for the 1st and last letters which are correct? It can be read with ease.

In this metropolitan world I don't think bankers are too worried about precise grammar and spelling. The level of education in Asian countries today is astounding and makes us Americans look pathetic.

Try typing one of your reports that way. I think you might change your mind. I agree with PE. The most important aspect of your report is credibility. Without credibility, the report is useless.