USPAP is a minimum standard. Virtually all lenders have additional requirements in addition to those minimums, and are free to increase those as much as they want.
Compared to other professions, the 'professional standard' is indeed very minimal, as well as ambiguous and contradictory. It consequently gives great leeway to additional GSE, lender and other standards.
Compare this to the standards that CPAs or engineers are required to follow.
Except that IRL none of them get that much more demanding than their competitors.
And?
If your plan is to increase the minimums
My complaints regarding the current standard are many. But, as I have already stated, I consider the current system nearly impossible to change. It might be easier to replace with at least certain customer groups.
and FORCE the lenders to buy more than they want then that might have some unintended consequences.
No. The lenders are getting what they pay for, - and it isn't much. They can get by with what they have because the entire system is inefficient or corrupt, however you want to put it.
As evidenced by the trend toward ordering less-than-1004 alternatives if/when they can.
Well, you miss the point. But, so would most appraisers.
What many high-end clients want for investment decision making is actually something that is NOT an appraisal. It is good well organized information that presents a range of event alternatives with estimated consequences. They only use appraisals or cheaper substitutes because they are required by regulations or other requirements. Certainly a sales transaction might require an appraisal to verify the contract price, if the buyer demands that. For refinance, I question the necessity of an official appraisal (and look how the rules get bent in this regard already). In fact, especially for high-end real estate like $100M+ office buildings, - other non-appraisal products would be more useful.
This is kind of mundane, because corporations already do this sort of analysis in addition to, or if possible, in lieu of appraisals.
What I AM saying is that traditional appraisal will fade away. Slowly, but surely.