I'm Conflicted - Should I Do These Reports?

[TRESinc]

The state is not going to like an inspector not being licensed to perform professional services at all. The public will want them bonded or insured too.

and how would you know what every state does or doesn't want? you don't, you are just guessing again, and like most of your guesses the safe bet is that you are wrong. how much is your bond as an appraiser? what insurance do you have other than E&O, which will do nothing regarding inspections?

 

[timd354]

perhaps, you and your family would not be upset to receive subpoenas that the FDIC filed court papers against you, no matter how frivolous.

And perhaps you are very happy arguing that other appraisers and their families would not be upset by it, nor would bear any cost or expense because of it.

So instead of arguing why other appraisers should do desktop appraisals, Why don't you do desktop appraisals in your spare time?

After all, you understand the liability and can fight it off better than most.

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The point that I was making that flew right over your head is that since the FDIC is in the habit of making frivolous claims against appraisers, avoiding doing bifurcated appraisals won't help avoid that potential problem as they are coming for you either way if you did appraisals for a bank that subsequently failed and some of the loans with your appraisals defaulted

 

[Meandering]

The point that I was making that flew right over your head is that since the FDIC is in the habit of making frivolous claims against appraisers, avoiding doing bifurcated appraisals won't help avoid that potential problem as they are coming for you either way

Maybe not,
But doing the best report, that the appraiser determined the scope of the work, sure is one way to lessen the tension and anxiety.

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[Meandering]

Oh . So non-licensed appraisers are making value judgements of possible value factors. Makes me wonder why they need us.

For your E&O and as a scape goat later, after they have all lined their pockets.

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[timd354]

Maybe not,
But doing the best report, that the appraiser determined the scope of the work, sure is one way to lessen the tension and anxiety.

.

Ignorance is bliss I guess

 

[Eli]

and how would you know what every state does or doesn't want? you don't, you are just guessing again, and like most of your guesses the safe bet is that you are wrong. how much is your bond as an appraiser? what insurance do you have other than E&O, which will do nothing regarding inspections?

You have to have a business license to do business in TN. You have to pay business taxes on your business revenue in TN. You have to have an appraisal license to perform appraisal practice in TN. We will see how they handle it. I will let you know.

The way they are painting it to be for the public’s best interest is bogus. Now, if they want to use a licensed home inspector or licensed engineer in TN, that would be different. As an appraiser, I would still need to visit many properties to see the external influences.

 

[residentialguy]

You have to have an appraisal license to perform appraisal practice in TN

These are signed by appraisers, not anyone else. They may do things that we do...but that doesn't make it an appraisal practice. They aren't pining value. Measuring a house and taking notes on condition, etc is only an appraisal service if a licensed appraiser does it in that capacity. Just because someone else does it, does not make it an appraisal practice and you don't need an appraiser's license to them. You need an appraiser's license to appraise as an appraiser.

 

[Meandering]

Ignorance is bliss I guess

did you look at the "sample" report?
https://www.housecanary.com/content/pdf/agile_appraisal_sample.pdf

I may be ignorant, but when I look at the grid, well ghee whiz even their own math does not add up.

Nothing like shorting Comp 4 $25,500 .

Maybe you can EA that the software can actually calculate all the adjustments for ALL the comps.



Oh, but maybe the number wouldn't make the deal work.

You get what you pay for.





USPAP FAIL!


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[timd354]

did you look at the "sample" report?
https://www.housecanary.com/content/pdf/agile_appraisal_sample.pdf

I don't really care about the house canary sample...I have not looked at this product and could not care less about it as nobody is using it in the origination process to appraise GSE eligible mortgages. In any case that is not the bifurcated appraisal that is being piloted, which is what we have been discussing for at least last few pages of this thread....nice attempt at diversion, though

 

[Terrel L. Shields]

the house canary sample

House Canary was one where their regression program calculated an adjustment of $40 - $115/SF...nice tight figure