Redacting Sample Reports

[dbmarsh]

Is there any information other than borrower, lender & client (AMCs, etc) that should be redacted on sample reports when applying to AMCs? Purchase contract specifics?

 

[Fernando]

I haven't sent sample reports in a long time.
However, in report, I have plat map and location map with the address on it.
Also with location map and subject's photo, I can eventually figure out what is exact address.

 

[TerryRohrer]

To be compliant with USPAP, all appraisal conclusions would not be shareable without client permission.

 

[dbmarsh]

I haven't sent sample reports in a long time.
However, in report, I have plat map and location map with the address on it.
Also with location map and subject's photo, I can eventually figure out what is exact address.

I am getting all of my stuff together to apply and on one of the AMC sites it says to submit a minimum of 3 sample appraisals in addition to license, E&O, etc. I can always ask them for clarification but wanted to check here.

 

[Fernando]

I remember when I first started appraising.
It's hard to believe but most of my reports were not that good.
I had to find the perfect one of each type to show I was competent.

 

[dbmarsh]

I remember when I first started appraising.
It's hard to believe but most of my reports were not that good.
I had to find the perfect one of each type to show I was competent.

They didn't give specifics on what they wanted on their website but maybe they do once I'm in the application. I was fortunate to have a really good, detail oriented supervisor who went over things she found with my reports from the beginning, so I feel pretty good about my later reports (which she always reviewed). Also, a good learning tool for me was doing appraisal reviews so I got to review other appraiser's work outside of my supervisor and her reviews of my own work. Regardless, I'm sure I'll have a learning curve.

 

[dbmarsh]

To be compliant with USPAP, all appraisal conclusions would not be shareable without client permission.

Yes. I'm thinking all confidential (borrower, client, lender) information along with value conclusions. I guess I will err on the over-redacting side and if there's more they need, they can ask.

 

[BRCJR]

Yes. I'm thinking all confidential (borrower, client, lender) information along with value conclusions. I guess I will err on the over-redacting side and if there's more they need, they can ask.

USPAP addresses this very issue.

 

[Fernando]

They didn't give specifics on what they wanted on their website but maybe they do once I'm in the application. I was fortunate to have a really good, detail oriented supervisor who went over things she found with my reports from the beginning, so I feel pretty good about my later reports (which she always reviewed). Also, a good learning tool for me was doing appraisal reviews so I got to review other appraiser's work outside of my supervisor and her reviews of my own work. Regardless, I'm sure I'll have a learning curve.

That's good. When I started I had no supervisor reviewing my reports except for the lender's reviewers. That was in the old days.

 

[Terrel L. Shields]

Is there any information other than borrower, lender & client (AMCs, etc) that should be redacted on sample reports

Value conclusions... primary "confidential" info so find someone that will allow you to use their report and attach a written copy of the statement releasing you from confidentiality.