Purposely Mis-reporting Form Requirements ?

[TerryRohrer]

I don't know what Part 2 or Part 3 refer to, nor do I see any use in "interpreting." My preference is to report what they are stating that they expect to have reported. Do you ignore ANSI measureming standards and disclose and explain? Or rely on FHA standards instead of FNMA standards for FNMA loans, but disclose and explain? Sounds like a Fernando thing to do.

 

[TerryRohrer]

It can be confusing for a reader that the trends are for comparables despite being in the neighborhood section.

What reader is an appraiser concerned about who should not have the same understanding of analysis and reporting requirements as the appraiser is expected to have? A lender should have every bit as full an understanding of those requirements as an appraiser.

 

[ZZGAMAZZ]

It can be confusing for a reader that the trends are for comparables despite being in the neighborhood section.

Always seemed to me that non-appraisers who review appraisal reports must have a vey difficult time...not just different perspeective but different software reports.

 

[shrubberyvaluation]

What reader is an appraiser concerned about who should not have the same understanding of analysis and reporting requirements as the appraiser is expected to have? A lender should have every bit as full an understanding of those requirements as an appraiser.

"Should" being the operative word.

 

[ZZGAMAZZ]

I don't know what Part 2 or Part 3 refer to, nor do I see any use in "interpreting." My preference is to report what they are stating that they expect to have reported. Do you ignore ANSI measureming standards and disclose and explain? Or rely on FHA standards instead of FNMA standards for FNMA loans, but disclose and explain? Sounds like a Fernando thing to do.

I plead UIF, "Under the Influence of Fernando." LOL LOL

BTW part 2 and 3 pertains to the 4 horizontal sections atop the Neighborhood section of 1004 page 1

 

[TerryRohrer]

"Should" being the operative word.

But completely outside the concern of an appraiser. "Does" or "doesn't" does not demand any distinction by an appraiser.

 

[Sandra Koutsopoulos]

Page 2 of main report. Reviewers look at that and 1004MC.
They think the figures should correspond.
If not enough comps to do a price trend in1004MC, a larger SALES data is needed to get sufficient data to do a statistical analysis.

Perhaps this is ONE of the reasons the Market Condition Report's value is negligible. Many non-appraiser 'reviewers' insist the numbers top of pg 2 on 1004 should be same as page 1, or claim that the market value spread is too large on pg 2 and insist to narrow it. So you want similar, nearby comparable (pg2) or similar neighborhood range within a mile radius (pg1)? IMO it's a flawed form because it could be interpreted both ways. I'd go with the interpretation the orderer of the of the appraisal is looking for. But it's still a junk form if used in an area with diverse housing quality, sizes, ages, lot sizes etc.

 

[shrubberyvaluation]

But completely outside the concern of an appraiser. "Does" or "doesn't" does not demand any distinction by an appraiser.

It matters when you get revisions and you have to explain it to them.

 

[ZZGAMAZZ]

Perhaps this is ONE of the reasons the Market Condition Report's value is negligible. Many non-appraiser 'reviewers' insist the numbers top of pg 2 on 1004 should be same as page 1, or claim that the market value spread is too large on pg 2 and insist to narrow it. So you want similar, nearby comparable (pg2) or similar neighborhood range within a mile radius (pg1)? IMO it's a flawed form because it could be interpreted both ways. I'd go with the interpretation the orderer of the of the appraisal is looking for. But it's still a junk form if used in an area with diverse housing quality, sizes, ages, lot sizes etc.

Occasionally my 1004MC indicates 0, as reflected by page 2, usually active listings.

 

[ZZGAMAZZ]

Occasionally my 1004MC indicates 0, as reflected by page 2, usually active listings.

This morning I'm ready to give up the battle, devoting as much time to explain why i won't or can't make any changes in response to client conditions no matter how hard i try to anticipate conditions... like explaining why Special Assessments arent an HOA fee, although it's explained sooo well in the report, even explaining that the 18 point BF red font text that explains that it is often misunderstood is emphasized TO AVOID this type of Condition!!! My original mentor charges like 800 for legal reports THAT NEVER EVER GET STIPULATIONS !!!