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Line Between Appraisal Review(s)

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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Where is the line drawn on appraisal reviews between being competent or not?

What gauge is used? Who your mother is? Lol

Who is regulating these reviews?

What are the parameters? Who says who can do what based on their questions and resulting implications?

Understand different jurisdictions are different on what an “appraisal” is. What is an “appraisal review” per USPAP? How do you define where it becomes USPAP compliant?
 
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USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Where is the line drawn on appraisal reviews between being competent or not?

What gauge is used? Who your mother is? Lol

Who is regulating these reviews?

What are the parameters? Who says who can do what based on their questions and resulting implications?

Understand different jurisdictions are different on what an “appraisal” is. What is an “appraisal review” per USPAP? How do you define where it becomes USPAP compliant?
 

USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
USPAP Standard 3, with understanding of Standard 1 & 3.
 
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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
USPAP Standard 3, with understanding of Standard 1 & 3.

Ok. I like. Expound now. I want a uniform form that is non standard 3. I like USPAP. I’m a fan.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
Ok. I like. Expound now. I want a uniform form that is non standard 3.

I'm not exactly sure what you mean by the bolded part?

There are standard review forms for large-volume users of similar property types (the Fannie Review form).
But, SOW for review assignments (lending work) is not necessarily uniform; certain clients require certain things. For residential work (lending), I use the Residential Appraisal Review Short Form developed by NARA/MU. However, it requires significant supplement in the narrative to be USPAP compliant.

If you are looking for a "standard" review process, you'll find it for specific residential lenders and specific property types. But what is "standard" for Client A may be different for Client B; although all residential lending clients, want one of the two general questions answered in a review:
A. Is what is presented credible and compliant? If so, tell us, if not, tell us why.
B. Is what is presented credible and compliant and do you, Mr./Ms. Reviewer, concur with the value? If so, tell us, if not, tell us why you don't and give us your opinion of value.​
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
I'm not exactly sure what you mean by the bolded part?

There are standard review forms for large-volume users of similar property types (the Fannie Review form).
But, SOW for review assignments (lending work) is not necessarily uniform; certain clients require certain things. For residential work (lending), I use the Residential Appraisal Review Short Form developed by NARA/MU. However, it requires significant supplement in the narrative to be USPAP compliant.

If you are looking for a "standard" review process, you'll find it for specific residential lenders and specific property types. But what is "standard" for Client A may be different for Client B; although all residential lending clients, want one of the two general questions answered in a review:
A. Is what is presented credible and compliant? If so, tell us, if not, tell us why.
B. Is what is presented credible and compliant and do you, Mr./Ms. Reviewer, concur with the value? If so, tell us, if not, tell us why you don't and give us your opinion of value.​

GSE work primarily but If it’s not standard 3, antything that keeps it from being appraisal practice without a license. State employee/independent contractor, appraisal and TAX laws are also in my focus.

Accountability and independence and transparency.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Anything that promotes public trust.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
GSE work primarily but If it’s not standard 3, antything that keeps it from being appraisal practice without a license. State employee/independent contractor, appraisal and TAX laws are also in my focus.

Accountability and independence and transparency.

You are losing me on the "not standard 3"?

An appraisal review is SR3/SR4.
Anything that isn't an appraisal review is not an SR3/SR4.

I don't understand what specifically you want dialogue on?
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Ground hog day...
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