wyecoyote
Senior Member
- Joined
- Jan 15, 2002
- Professional Status
- Gvmt Agency, FNMA, HUD, VA etc.
- State
- Washington
This is a new one for me so here goes. I did the appraisal on a house just completed the appraisal and sent it off. The Credit Union has requested a field review on it and sent over the request for a field review on the one I just completed. Now we are an LLC two members myself and another appraiser. We have completed field reviews in the past for the client and they like our Field Reviews and appraisals to the point that we are the only appraisers they having been utilizing for the past 4 months. Their problem is that we are currently the only appraisers in this area that they will hire for appraisals. The other thing is that there quality control requires so many field reviews a year on files. They realized this month that they need several field reviews done per year (2 a month average). So they have asked if we could do those field reviews. The appraiser that does the appraisal would get reviewed by the other apprasier in the office. Our first response was to laugh then decline due to conflict of interest. However, the credit union manager (head honcho) called and stated that would be ok with him and there is no conflict in there credit union charter, bylaws and federal laws? :?
So we called the state board and talked to them about it. We were told by the state that we can do the field reviews provided that we disclose completely in the Field Review that 1. The original appraisal was completed by another apprasier in the office. 2. Member X did appraisal and Member Y is doing the field review both have an interest in XYZ appraisal company. 3. Note any and all report discrepancies.
So what does this forum think of this? What are your 0.02 cents? :?:
My thoughts and partners thoughts are great could you see a lawyer having fun with that. :twisted:
Ryan
So we called the state board and talked to them about it. We were told by the state that we can do the field reviews provided that we disclose completely in the Field Review that 1. The original appraisal was completed by another apprasier in the office. 2. Member X did appraisal and Member Y is doing the field review both have an interest in XYZ appraisal company. 3. Note any and all report discrepancies.
So what does this forum think of this? What are your 0.02 cents? :?:
My thoughts and partners thoughts are great could you see a lawyer having fun with that. :twisted:
Ryan