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I'm Conflicted - Should I Do These Reports?

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:rof::rof::rof:

IAEG

The appraiser's scope of work should be consistent with the extent of the research and analyses employed for similar property types, market conditions, and transactions. Therefore, an institution should be cautious in limiting the scope of the appraiser's inspection, research, or other information used to determine the property's condition and relevant market factors, which could affect the credibility of the appraisal.

Sorry,
Doesn't say it's okay to limit the appraiser's reserch and inspection based on loan amounts or credit scores of borrowers.
 
Why would any business or institution disclose the details involved with a pilot program to the public as they operate in a competitive environment? They have shared this information with their regulator, the lenders participating in the pilot and other entities who are in a position analyze and provide constructive and objective feedback to them. They probably already knew that this would peeve off a certain segment of appraisers who would reflexively claim that anything that involved any work being done by anyone else and/or anything that would be perceived to possibly lower the amount of money going to appraisers is not credible, yadda, yadda, yadda./


Absolutely it should peeve off certain segment of appraisers!

It should peeve off the segment of appraisers who's liability is being increased.

Where is the pilot program that reduces the appraiser's liability?

Where is the pilot program that says State Boards can't prosecute appraisers over these "pilot programs" until the "pilot programs" are no longer "pilot".

Why does the lending side believe that appraiser's personal liability should not be a factor in their adventures to enjoin us in their "pilot programs"?

??
??
 
Where is the pilot program that reduces the appraiser's liability?
That would be this one. If the appraiser is not doing the property inspection, that greatly reduces the appraiser's potential liability as the appraiser cannot be held liable for supposedly breaking something at the subject property or failing to notice some safety hazard at the property
 
Where is the statements from the FDIC that says they won't prosecute appraisers when these loans go belly up???

???

Let staff appraisers do them, and eat their own liabilities.

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That would be this one. If the appraiser is not doing the property inspection, that greatly reduces the appraiser's potential liability as the appraiser cannot be held liable for supposedly breaking something at the subject property or failing to notice some safety hazard at the property

And you have this in writting from all the State Boards?

Or, when Prosecuted appraisers can just say Timmy told them this wouldn't hold any water?

:ROFLMAO::ROFLMAO::ROFLMAO:

Right up there with Poor LA is going to buckle under an FTC charge.

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Why would the client "need" a third party inspection?

So you don't see the moldy rooms?

Or that a tenant is living in a home applying for a residential refinance???

Or so you don't see the undisclosed ADU that is tenant occupied???

Oh,

No real reason, other than you are just faster at writting reports when everything is C2-C4 and no chickens are living in the back yard, and no meth is being cooked in the garage.

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Where is the statements from the FDIC that says they won't prosecute appraisers when these loans go belly up???

???

Let staff appraisers do them, and eat their own liabilities.

.
The FDIC does not prosecute appraisers. If what you mean by that is the FDIC suing appraisers, how did performing a so-called full appraisal prevent appraisers from getting sued by the FDIC? Oh that's right, it didn't, even though many of the lawsuits brought by the FDIC against appraisers in the wake of post 2007-2008 bank failures were without merit and showed that the FDIC's attorneys had no knowledge of USPAP as the lawsuits accused appraisers of supposed USPAP violations such as using comps that are more than 1 mile away or closed more than 12 months prior to the appraisal effective date
 
The FDIC does not prosecute appraisers. If what you mean by that is the FDIC suing appraisers, how did performing a so-called full appraisal prevent appraisers from getting sued by the FDIC? Oh that's right, it didn't, even though many of the lawsuits brought by the FDIC against appraisers in the wake of post 2007-2008 bank failures were without merit and showed that the FDIC's attorneys had no knowledge of USPAP as the lawsuits accused appraisers of supposed USPAP violations such as using comps that are more than 1 mile away or closed more than 12 months prior to the appraisal effective date


Here, argue with Peter, you are both lawyers.

Monday, April 16, 2012
What is the FDIC Suing Appraisers About? Some Examples of the FDIC's Specific Allegations
By Peter C
 
Bifurcated appraisals introduce two layers of disconnect into the process. The inspector, no matter how good a job they do of noting items , has no connection with the final product or value or outcome of their work ( other than avoiding getting fired for being late or total screw up). The appraiser is disconnected from the property except for notes and photo.
 
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