Hybrid Appraisal Extraordinary Assumptions

[BRCJR]

The Selling Guide(s) has/have different sections.
Some ARE for Appraiser's and some ARE for Lender's.

 

[glenn walker]

The Selling Guide(s) has/have different sections.
Some ARE for Appraiser's and some ARE for Lender's.

The selling guides change and are amended all the time so what you read last month may or may not not be in effect today or next year. The same with USPAP they having been jerking around with it for years so what was possibly not even applicable in 2010 might be in 2018 or vice versa - So the appraiser always needs to be cognizant that bureaucrats make mistakes all the time ( He did the appraisal in 2010- but the State investigator is using a 2018 version of USPAP ?

 

[BRCJR]

The selling guides change and are amended all the time so what you read last month may or may not not be in effect today or next year. The same with USPAP they having been jerking around with it for years so what was possibly not even applicable in 2010 might be in 2018 or vice versa - So the appraiser always needs to be cognizant that bureaucrats make mistakes all the time ( He did the appraisal in 2010- but the State investigator is using a 2018 version of USPAP ?

that is why we should use their on line selling guide and keep up with their bulletins........

now the investigator using the wrong edition of the USPAP, I got no answer for that....

 

[George Hatch]

USPAP is written for all of appraisal practice, not just GSE appraisals. Many of the assignments have to comply with specific laws and requirements, and even on the lending side there are requirements for FRTs that don't apply to all lending assignments. the IRs regs spell out the definition of value and 5yr sales history rules to be used in those assignments; the federal DOT regs and their Yellow Book requirements are spelled out there, and so on.

Requirements on the appraiser's licensing and scope of practice WRT an assignment are outlined on the state level, so those vary, too. For instance, in my state its a requirement for appraisers to include their license number everywhere their signature appears in an appraisal report. Most CA appraisers aren't aware of that regulation.

That why "it depends on the assignment" is the correct answer to Marion's contrived "challenge".

Besides, "what are all the requirements for this assignment?" is the operative question, not which specific law or regulation is it that triggers that requirement. And appraisers can only know what type of assignment it is - and thus where to look for the requirements - from what the client tells them.

As I've been saying, this is the reason we want to identify intended uses and intended users - not for fill-in-the-blank disclosure purposes in the report but as indications of what their needs are for the workproduct and upon what basis the workproduct was prepared and was intended to meet. .

 

[Terrel L. Shields]

in my state its a requirement for appraisers to include their license number everywhere their signature appears

My home state requires a stamp. But I've seen innumerable appraisals with no stamp because they could not figure out how to scan a stamp over their signature.

 

[timd354]

My home state requires a stamp. But I've seen innumerable appraisals with no stamp because they could not figure out how to scan a stamp over their signature.

Such a stupid requirement, but Arkansas is not the only state with stupid signature/stamp requirements

 

[TRESinc]

Its been said each person in the US commits 3 felonies a day.

crap, i better get moving, haven't committed a felony in a while. guess i am a slacker...

I mean really, isn't it all just a bit too convenient that no one understands the laws written around all of this? If it was intended to make sense, why wouldn't it be written to make sense? It certainly could have been. It certainly could be changed. Why all the confusion?

have a gander at the current tax laws. same thing applies.

 

[residentialguy]

I have placed over 10,000 appraisal assignments in my career, so far.

Not ONE time has an Appraiser inquired as to the interest rate we are charging for that particular customer.

If they did I would tell them it is confidential.

I have.
I've had some say "it's confidential" too...then I copy and paste their requirement and send it to them.

FNMA Selling Guide
B4-1.1-05: Disclosure of Information to Appraisers

 

[TRESinc]

I have.
I've had some say "it's confidential" too...then I copy and paste their requirement and send it to them.

FNMA Selling Guide
B4-1.1-05: Disclosure of Information to Appraisers

View attachment 34810

it doesn't specifically state that they have to tell appraisers the interest rates and even on the list in your post the interest rate is not listed. there are things that are associated with it such as rate buy downs and loan fees, but as specific as that list is no where on it does the interest rate appear. it goes on to say this info is typically provided in the contract, and i don't recall many contracts that spell out the interest rate for the loan the purchaser will be applying for. kinda hard to do when it isn't even known at that time, or even possibly at the time the appraisal is ordered and/or completed.

 

[BRCJR]

I have.
I've had some say "it's confidential" too...then I copy and paste their requirement and send it to them.

FNMA Selling Guide
B4-1.1-05: Disclosure of Information to Appraisers

View attachment 34810

Please read the entire sentence. It says "AS appropriate"..........