Modern Appraisal Language (objective vs subjective)

[Imladaris]

So saying superior or well-maintained is now flagged as being possibly biased?

What are appraisers using in terms of less loaded language? Or are many sticking to their old ways.

 

[Terrel L. Shields]

If secondary market you best change. As for superior I suppose you could say "I adjusted up because the market would normally react in a positive way when compared...

Elsewhere I posted a thread on well maintained. I think you could do extraction write ups calculating the effective age and say comp x compares to the subject so I estimate the effective age is equal therefore is not the same as the actual age. Market analysis is described by Donald Epley -google it. Don't pay for it, it's free somewhere. I would upload it here but I am on a tablet. My house laptop is in the shop.

 

[Surf Cat]

Completely ridiculous.... especially since the uad condition rating of C3 starts off as;

The improvements are "well maintained" and feature limited physical depreciation....

 

[Fernando]

So saying superior or well-maintained is now flagged as being possibly biased?

What are appraisers using in terms of less loaded language? Or are many sticking to their old ways.

Where did you get superior and well-maintained as biased. Or your opinion it's possible?

 

[Imladaris]

Where did you get superior and well-maintained as biased. Or your opinion it's possible?

Cover article on Working RE.

HUD Discrimination Complaints Skyrocket by Isaac Peck

"The use of subjective terms like 'inferior', 'superior' and 'well-maintained' are all turning into read flags for lenders and the GSE's"
This is per Craig Capilla, Partner at Franklin, Greenswag, Channon & Capilla, LLC. He is apparently defending appraisers who are being sued for claims of discrimination on HUD reports.

 

[Fernando]

Cover article on Working RE.

HUD Discrimination Complaints Skyrocket by Isaac Peck

"The use of subjective terms like 'inferior', 'superior' and 'well-maintained' are all turning into read flags for lenders and the GSE's"
This is per Craig Capilla, Partner at Franklin, Greenswag, Channon & Capilla, LLC. He is apparently defending appraisers who are being sued for claims of discrimination on HUD reports.

Can't imagine those words got appraisers in trouble.
I use those terms all the time and had no complaints from clients.

 

[Sadie]

Use fact words instead of opinions. Instead of well maintained (opinion) use on going maintenance or state what and when has been done, like roof replaced and state when (fact). I can change my wording to hopefully avoid an unpleasant encounter with regulators.

 

[Dublin ohio]

Use fact words instead of opinions. Instead of well maintained (opinion) use on going maintenance or state what and when has been done, like roof replaced and state when (fact). I can change my wording to hopefully avoid an unpleasant encounter with regulators.

So what should we do about the pre printed verbiage in every 1004. Take a look at the UAD definitions that every one of my clients wants included.

 

[ucbruin]

Cover article on Working RE.

HUD Discrimination Complaints Skyrocket by Isaac Peck

"The use of subjective terms like 'inferior', 'superior' and 'well-maintained' are all turning into read flags for lenders and the GSE's"
This is per Craig Capilla, Partner at Franklin, Greenswag, Channon & Capilla, LLC. He is apparently defending appraisers who are being sued for claims of discrimination on HUD reports.

If you read what you posted....
Why would you consider "Or are many sticking to their old ways."

 

[Terrel L. Shields]

Can't imagine those words got appraisers in trouble.
I use those terms all the time and had no complaints from clients.

Oh my! You racist!!!!! Welcome to Woke Nation.