How many of your reports are being reviewed by a local appraiser

[redfish]

Just a gauge. What is your gut telling you. I can tell you that many GOOD lenders are reviewing 100% of the broker originated wholesale appraisals that are coming in using local appraisers.

 

[Tim Hicks (Texas)]

How the hell should we know? I would bet it is less than 1 in 10 or more probably less than 1 in 50.

Don't confuse checklisters with reviewers. In house underwriters will be referred to as reviewers, but all they are doing is running checklists. Skippy is well aware of the check lister and makes sure he does not leave a red flag trail by just not making adjustments at all.

 

[redfish]

How the hell should we know? I would bet it is less than 1 in 10 or more probably less than 1 in 50.

Don't confuse checklisters with reviewers. In house underwriters will be referred to as reviewers, but all they are doing is running checklists. Skippy is well aware of the check lister and makes sure he does not leave a red flag trail by just not making adjustments at all.

That's why I have LOCAL in the question. You are naive to think that 1 in 10 or lower is being reviewed under the specific circumstances that I have lined out. Broker originated wholesale appraisals.

 

[Karl]

Due to current news events: Here is a more appropriate question; How many of OUR Appraisals are being reviewed by FBI & IRS??

 

[redfish]

This poll is also an attempt to see how many appraisers on this forum write appraisals with the thought that a geo-competent peer will be reviewing the report.

 

[Tim Hicks (Texas)]

That's why I have LOCAL in the question. You are naive to think that 1 in 10 or lower is being reviewed under the specific circumstances that I have lined out. Broker originated wholesale appraisals.

Oh, and you changed your original post to say "broker originated wholesale appraisals" after I posted. It is still less than 1 in 10 around here. Am I being naive or are you being optomistic? I have no mortgage broker clients of my own, but I have appraiser buddies that do. They tell me it is still business as usual around here with none of the stips I get from my bank clients. They don't get hassled about sales over six months, bracketing or anything.

 

[Tim Hicks (Texas)]

Due to current news events: Here is a more appropriate question; How many of OUR Appraisals are being reviewed by FBI & IRS??

Karl, very few. There has to be implications of fraud and how many of OUR appraisals are really going to be involved in that kind of activity?

 

[Elliott]

I generally don't know if and when my reports are reviewed. How would I?
I had one recently where the reviewer came from 150 miles and made wacko
adjustments and they kicked him to the curb. I think you only hear about
the review if they really, really disagree.

 

[redfish]

I generally don't know if and when my reports are reviewed. How would I?
I had one recently where the reviewer came from 150 miles and made wacko
adjustments and they kicked him to the curb. I think you only hear about
the review if they really, really disagree.

Exactly,

how many do you think are being reviewed.

 

[Kevin Mc]

This poll is also an attempt to see how many appraisers on this forum write appraisals with the thought that a geo-competent peer will be reviewing the report.

I assume any review should be performed by a geo-competent appraiser. I know lenders use services for desktop stuff and that is OK provided the reviewer (or whomever it is) doesn't over step their boundaries. If some one from 6 states over questions my choice of comparables, my value etc.... based on some desk jockey Trulia crap they better wear a helmet because I will go head hunting for a name and license # and report it to the proper folks. I hope many of you newer folks realize that you are just as responsible for your review findings as you are for your appraisals findings. I have seen otherwise.