- Jan 15, 2008
- Professional Status
- Certified Residential Appraiser
- North Carolina
So, do you think it's ok to do bifurcated hybrids? On January 31, 2018, what appeared to be egregiously deficient Clear Capital “Clear Value” bifurcated
""The fine levied was 100 times greater than the fee received by the appraiser. In addition to violation of USPAP, several Georgia specific state violations were reported. Those who still consider doing bifurcated hybrids should keep the competency requirements of USPAP in mind.
Anyone doing them is not only undermining their profession, they are risking their license. Anyone doing them in a state where they do not routinely practice is a damn fool.
Due to all the phony hype about quality and accuracy and being done by ‘trained inspectors’ it’s going to take a while to demonstrate to state regulators how egregiously bad these ‘products’ are. ALL of them. Including 1004P. ""
""Most importantly they do not allow a reasonable fee (as required under Dodd Frank), or sufficient time to properly investigate, analyze, develop and report credible appraisal results. The systems are set up to provide appraisers with ‘suggested’ pre-selected comparable sales, and even adjustments in some cases.
As I have been saying for well over a year. These products induce fraud. The very design and marketing coupled with ridiculous fees assures USPAP compliance will never happen. ""
(Hey BERT check this out : appears to have been your point of contention with regards to words like ... BIASed , USE of PRE-chosen comps' etc...)