I am right, right?

[Zoe]

Did an appraisal in May. Had to make significant positive market adjustments my data made it clear. They came back with CU findings that said I was too high. I responded with a detailed explanation of my data. They were impressed and accepted the report.

Fast forward to now. Their investor have problems with CU with my market adjustments, with CU. I responded and noted that it was the investor. I responded that my comments supported my findings and I wouldn’t change my report based on CU findings based that didn’t provide any data to support I was wrong.

I was right to even respond, right?

Yes. Resolve this right now.

 

[Dublin ohio]

Can someone tell me what is CU?

You claim to be an appraiser, you claim to do GSE work and you don't know what CU is. Why am I not surprised

 

[gregb]

Saw my first ever CU report created by CoStar for a multi family property. While it was comprehensive in scope, my other data sources were more complete than the CoStar CU report.

 

[Surf Cat]

It sounds like that is what the underwriter did. The underwriter took a look at it, asked some questions, found the response satisfactory, and accepted the report.

The investor has an issue with the CU score.

I wonder how the investor got ahold of the CU score?

Appraisers are held to confidentiality. Lenders freely share the CU scores with their clients?

 

[glenn walker]

I wonder how the investor got ahold of the CU score?

Appraisers are held to confidentiality. Lenders freely share the CU scores with their clients?

The investors receive a complete loan file and all reports are in it but they can also run their own. They are the ones funding and holding the loan the Mortgage Banker is just originating and underwriting the loan. We used Wells Cargo- Flag Star- and others warehouse lines of credit to fund.

 

[J Grant]

The thing is, anybody can review an appraisal as it sits in a file or gets sold to different lenders/investors.. Appraisals suspected of overvaluation get red flagged, and loans with questionable applicants/terms get red flagged - sometimes a percentage of reports get reviewed in an audit. I bet most of us have had reports reviewed over the years and we are not aware of it, because if ther is no problem, nothing happens.

An appraisal can be accepted by the UW and client but if the value is weakly supported or appears to be a pushed value, the appraisal can later be vulnerable to review and challenges later. That is why we bracket sales comps. for key features or defects, and the same for prices - insurance for later.

 

[Surf Cat]

The investors receive a complete loan file and all reports are in it but they can also run their own. They are the ones funding and holding the loan the Mortgage Banker is just originating and underwriting the loan. We used Wells Cargo- Flag Star- and others warehouse lines of credit to fund.

It just sounds like the investor wants to blame the appraiser because the market is softening. Maybe the investor listed the subject property slightly above the OP's OA value and is not getting any bites.

Again, we don't know the whole story.

 

[HVNY]

BRACKET

 

[Terrel L. Shields]

BRACKET

And when there is no sales to bracket?

 

[J Grant]

And when there is no sales to bracket?

That might indicate an over improvement or super adequacy.