There is at least one of those who used to post here quite regularly, whom I have found in private conversation to be one of the most knowlegable and effective USPAP guru's I have ever met... bar none.
Seems he not only read and darn near memorised the book, but also understands what it is to apply it to real life! 8O
You will find among the fairly frequent posters no less than three of them national review types, of whom I am aware.
On the other hand when you tangle with some clerk promoted yesterday who attempts to tell you your job and how to interpret a "rool"-book you know WAYYY better than they do... feel free to jus' say NO :twisted: .
I have found it very effective to ask for the "senior review appraiser" under such circumstances... If they ain't got one then you gotta do the educating your self ... Hopefully grasshopper has ears as well as a mouth :evil: .
On the other hand in reasoned debate with a couple of those senior individuals I have learned a thing or two so insure that it is a conversation you are a-havin' instead of a one way rant! Crow is really nasty fed back at cha :wink:
don't know fer sure, but it was told to me that they provide "desk top" Reviews of yer work and report to the Client. Had one due a job on a report a while back, definitely from out of State and gave his/her own opinion of value 8O , Unsupported - Standard 3 violation - no documentation; but thats not the part that bothered me, what disturbs me, how in the world due they understand my market area if they don't live here :?: don't hold a License or Certification here (State Required); I must be a dino sour or fell off a turnip truck er somethin.
anybody who memorizes USPAP, doesn't have a real life; don't fergit the "Opinions" vary from person to person; also accoridngly it's a work in progress, so how can they know what's bein changed this year and perhaps somethin of past writing may still apply. I'm not sayin they don't know it, I jus can't figure out why they "violate it" ifn their all knowin :?:
Depending on what state they live/work in, they may not NEED no stinkin badge to DO that 8O .
While in my state an appraiser can be brought before the board, fined feed and even jailed for such behavior, a non-licensed person can opin vlaue all they want with or widout support and their client can (and probably will :roll: ) accept it as valid... and may even pay them for the service!
neat trick 8O
re: the USPAP opining... Yeah thats why I said I have even larned a thing or two...
- or at least "acquired the alternate viewpoint" which on some other occssaion I may wish to argue as bein more valid than some other jokers view :wink:
Well I had to jump in on this one as I am a commercial review appraiser, not a "national" review appraiser though.
Point 1 - It's unfair to categorize all review appraisers as incompetent or unknowledgable of USPAP. There are bad apples in every bunch. As a review appraiser I have come across a number of appraisers who I have only used once after they have displayed their incompetence, so there is enough of that to go around. I had an appraiser tell me one time "oh that USPAP stuff, I really need to read that sometime" (a real quote) and I about dropped the phone at his admission.
Point 2 - I must concede I don't know how some residential review appraisers can adequately review residential form appraisals on properties located across the nation, and have any handle on the market or whether or not the appraiser is accurate and their conclusions reasonable based on three sales. I just had this conversation with an OCC examiner last week. Yes, we are currently in the middle of an OCC examination, which would not be much fun for an unscrupulous reviewer. If an examiner finds an appraisal they take issue with, they can write down the loan on the spot, which produces a direct hit on the bank's bottom line due to required increases in loss reserves. So you see, we are not totally devoid of accountability up here in our ivory towers.
Point 3 - It's unfair to categorize review appraisers as people who can't make it in the real world. After 20 years in the business I have been "around the block" starting as a residential appraiser for a national savings and loan, then working as a commercial appraiser for a large regional firm, then self-employed, now as an employee with a commercial bank holding company. For me it's a quality of life issue. I don't miss working late nights and weekends. I don't miss not getting paid sometimes for weeks. I enjoy the regular paycheck and not having to pay additional SSI, along with the 401k with employer contribution, health insurance, stock options, 26 paid days off a year (plus national holidays). The best thing is the ability to turn my office lights off at 4:30 and go home and enjoy time with my wife and young children, and have the opportunity to be involved in USTA tennis, the local chapter of the AI, and charity organizations. If you can work long hours six or seven days a week, AND take vacations, have quality time to listen to your wife, take days off to see your kids play sports, exercise, invest time in non-profit activities more important than oneself...and manage to avoid a visit with a cardiologist or divorce lawyer, then more power to ya.
I'm a licensed appraiser in Oregon, if I review your appraisal of a property in Pennsylvania (where I'm not licensed) for a client of mine in Utah (where I'm not licensed but have resiprosity) and I change the value conclusion - what then?
Have I generated an appraisal? (I think yes.) Would Pennsylvania have a valid case against me for "unlicensed appraisal" activity? (I think yes.) Would Oregon have a valid case against me for "unlicensed appraisal activity? (I think not.) How about Utah? (Don't think so.)
What if my review is not USPAP compliant? Would Pennsylvania have a valid complaint against me? (I'm not sure, but I doubt it.) How about Oregon? (I think yes.) Utah? (I don't think so.)
This issue of a national reviewer (or a national appraiser) begs the question of a single national appraisal license/certification. I know that those ol'e boys over there in the tobacco cartel states arn't gonna go for that.
I believe a good review will help reduce the many losses associated with inflated appraisal values. No I don't personally know your area. That information should be provided in the appraisal report that the appraiser was paid to do. I will also collect data in many ways including BPO's AVM,s Tax Records, and the many resources on the internet to support the value or provide my own opinion based on the data available. I my case these are for internal purposes and will never be read outside the company and are classified as an Administrative Review not subject to USPAP. Of course anthing going outside I use the standard review forms with the certifications and limiting conditions.
No Rubber Stamp Reviews
I occasionally provide review services for a major lender and review appraisals from all across the country. When I do one, I am doing it on a RARS, not a 2000 form. What I am looking for is whether the report is reasonable and adequately supported. For example, I have seen sketches of 3 story homes with no stairs (Where's the access?). I have seen values that are not supportable, and I have seen absolute garbage. The bottom line is whether the value is supported enough to lend on. On occasion, I have requested a new appraisal, but these are few and far between. I NEVER put an estimate of value on the report because I am not an expert in that market, BUT I can read an appraisal and determine whether or not it's pure garbage.