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More WAMU corrections

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Kristin Sinnott

Thread Starter
Freshman Member
Joined
Nov 6, 2005
Professional Status
Certified Residential Appraiser
State
Massachusetts
I received a correction from WAMU today. Every time I send an appraisal for them I make sure that I cover everything that they usually reject. This time I thougt it was perfect but suprise suprise I was wrong.

-"Comment as to why no age adjustments warrented" (subject is 10 years old: Comp 1 is 13 yrs old, comp 2 is 10 yrs old, comp 3 is 8 yrs old, and 4 and 5 are 10 yrs old) I didn't think I could get any closer
-"Please identify in your addendum the contract date for each of the closed sales, and please be sure any time adjustments are based from the contract date, not closing date." All of the comparables used sold within 90 days, so I did not use time adjustments.

Does anyone have any suggestions? any good comments or statements? I am not sure how to respond to these corrections because I don't think age adjustments are warrented and I used the sale date for each comparable sale.
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
I wonder what reviewed it? A conversion with rules or a person?

I would repond by what you just posted.
 

panappr

Elite Member
Joined
Dec 5, 2007
Professional Status
Certified Residential Appraiser
State
California
I believe allot of appraisers are down to their last straw with the latest round of new stipp requirements. If that's all they could find wrong with your appraisal, address it quickly and mov-on. Everyone has to much time on their hands lately, especially clerk reviewers.
 

Tom Barclay

Senior Member
Joined
Apr 7, 2002
Professional Status
Retired Appraiser
State
Oregon
I think it is due to the reduced work load that the reviewers have more time on their hands and have to find some(any) fault to justify their jobs. Make the appropriate comments and move on.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
You just write, 'yada yada yada'. UW will be happy. UWs
have families and dogs to feed just like the rest of us.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Called job security. IF they didn't send back for something what reason would they be needed?? Geez just be thankful they have to get into something this piddleee. Best one I had was they wanted a paragraph put under another paragragh instead of above it.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
They just don't want to take a chance of losing bailout money. They think what they are doing is "due diligence."
 

Em Tee

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Yeah, it's getty pretty ridiculous. I had one come back because I wrote something like this: "Comps #2, #3 & #5 all had inground pools" and they wanted me to write "Comp #2 had an inground pool. Comp #3 had an inground pool. Comp #5 had an inground pool."

:leeann:
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I love is when they ask for things already in the report and having to point it out. I mean...really...they are so busy check listing they don't bother to read the reports.

Last month I stated that "the lot adjustment for sale #1 exceeds 10%" and they wanted me the change it to say "the lot adjustment for sale #1 exceeds lender line item guidelines of 10%." The reviewer had to have the words "line item" in my comments. Isn't it the same saying the same thing? It was a rural property and adjustments exceeded guidelines on every comparable sale in some way.
 
Last edited:

Mutyger

Member
Joined
Jul 9, 2004
Professional Status
Certified Residential Appraiser
State
Missouri
I had one the other day tell me to change the verbiage from Average + to Above Average.(huh)
 
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