Illinois Board Issues Warning On Hybrid Appraisals

[George Hatch]

Remember, USPAP governs the conduct of an appraiser. It requires appraisers to do certain things and it prohibits them from certain things. That's how you would have to approach your ban on appraisers using information provided by 3rd parties.

 

[chad hampton]

USPAP says it does not define significant appraisal assistance, Then goes on to define significant appraisal assistance by giving 2 clear expamples (maybe 3, I forget). Go figure that one out, lol.

USPAP says performing a property inspection is a clear example of significant appraisal assistance. And only an appraiser can provide significant appraisal assistance. Seems pretty clear so far..... then they throw you for a loop with an AO to explain how a 3rd party could be performed provided you provide enough disclaimers and jump through enough hoops. Talking out of both sides of its mouth.

you can do a lot that most would consider non-standard appraisal practice, But you can’t scope away misleading. Hopefully we all agree with that. As long as the public is being lied to about who is coming to their home, then it will be a problem as far as public trust is concerned.

 

[George Hatch]

USPAP says it does not define significant appraisal assistance, Then goes on to define significant appraisal assistance by giving 2 clear expamples (maybe 3, I forget). Go figure that one out, lol.

USPAP says performing a property inspection is a clear example of significant appraisal assistance. And only an appraiser can provide significant appraisal assistance. Seems pretty clear so far..... then they through you for a loop with an AO to explain how a 3rd party could be performed provided you provide enough disclaimers and jump through enough hoops. Talking out of both sides of its mouth.

you can do a lot that most would consider non-standard appraisal practice, But you can’t scope away misleading. Hopefully we all agree with that. As long as the public is being lied to about who is coming to their home, then it will be a problem as far as public trust is concerned.

Citation needed. And don't forget, USPAP ends on pg 74 of the pdf.

 

[chad hampton]

Page 156. USPAP is set for another change soon, so who knows what this next version will say. Maybe this next version will make sense?

By bad, that’s in an AO too. Maybe they’ll add a few more AOs next version.

 

[djd09]

I'm not trying to tell you what to do. But I will make a prediction here: when half of the existing SFR appraisers get starved out of business due to the decline in demand for conventional 1004s you will be among those who starve first.

now you are not telling me what to do but who i am. you want to wager i will starve?

 

[George Hatch]

now you are not telling me what to do but who i am. you want to wager i will starve?

All I know about you is what you demonstrate here.

 

[George Hatch]

Page 156. USPAP is set for another change soon, so who knows what this next version will say. Maybe this next version will make sense?

By bad, that’s in an AO too. Maybe they’ll add a few more AOs next version.

Page 156 is not part of USPAP. But you know what is part of USPAP? Line 96 atop page 16 of the pdf version (pg 4 of USPAP itself)

 

[djd09]

at least my last fake internet lawyer had a sharp tongue.

 

[George Hatch]

Since we're on the subject of what's new for 2020 - there's this

 

[chad hampton]

I agree that facts like year built are not assignment results. Much of what you do at an inspection is opinion and analysis, not just gathering facts. I gather facts at the office and then confirm them at the inspection.