Revision Requests -having To Explain Peer Appraiser's Data In My Reports?

[Eli]

Knowing the best comparables through market analysis and knowing how to deal with them through quantitative and/or qualitative analysis is crucial. Being able to reconcile it too.

The steps in the appraisal process that have been published for years are on spot. I am not going to post the steps in the appraisal process. Just google them.

This is not for those with a license. But for those trying to tell people with a license what to do.

 

[Meandering]

Naw,

Just fill in the form found here.
http://www.federalreserve.gov/reportforms/formsreview/FR1379d_20121219_f.pdf

Page 2, top,




§226.42 Valuation independence.


(c) Valuation of consumer's principal dwelling—(1) Coercion. In connection with a covered


transaction, no covered person shall or shall attempt to directly or indirectly cause the value assigned

to the consumer's principal dwelling to be based on any factor other than the independent judgment of


a person that prepares valuations, through coercion, extortion, inducement, bribery, or intimidation of,

compensation or instruction to, or collusion with a person that prepares valuations or performs

valuation management functions.

eCFR — Code of Federal Regulations http://www.ecfr.gov/cgi-bin/text-idx?SID=b5a500102bb19054436a1e91...


What a peer or peers have done, has nothing to do with your independent judgment.


2.
(iii) Inducement of mischaracterization. In connection with a covered transaction, no covered


person shall induce a person to violate paragraph (c)(2)(i) or (ii) of this section.




.

 

[TRESinc]

Who's "they"?

fannie and freddie

 

[Terrel L. Shields]

I do think CU is quite a conundrum. While I support Fannie Mae's efforts to have quality control it leaves appraisers in that weird trap of having to respond to their peers' work. If you are the outlier it doesn't mean you are wrong.

Not only do I not have to respond to "peers' work", I won't. Not my job. They can ask them.

 

[djd09]

fannie and freddie

i did not ask you any question. but out.

 

[Eli]

Not only do I not have to respond to "peers' work", I won't. Not my job. They can ask them.

Not only is it not your job, it is not a recognized technique or method of appraisal practice.

That spells a highway to disaster.

 

[Tim Hicks (Texas)]

Tim,
I am sure you are a great appraiser but....
The best time to market is when you are busy. When things slow down your prospects won't want to talk to you. This is marketing 101. Be consistent.

Gee Joan, I guess 25 years in the business hasn't taught me that new clients come out the woodwork soliciting my services when it is busy and marketing basically requires a pulse. It doesn't change that many of these so called prospects don't meet my criteria to be my client. If you are good at what you do, you will always survive in the appraisal business. Not that it needs to be said, but marketing does not make you an appraiser in demand, your quality of service has to equal what you market. We are not selling identical widgets, we are selling our expertise. You see appraisals every day. Has it never occurred to you that these lending companies are getting what they pay for by trying to turn the appraisal process into a checklist contest. Clever, unqualified appraisers can play the checklist game, but real appraisers do what is true and correct despite the checklist "rules." Instead of auto review programs and low paid appraiser reviewers, why not train actual underwriters how to read and comprehend appraisal report. You know the reason why.

 

[TRESinc]

i did not ask you any question. but out.

you don't need to, that's the beauty of a public forum!

 

[Tim Hicks (Texas)]

Marketing 101 also says it is a good time to raise fees during busy times. How has that worked out for appraisers over the years?

 

[djd09]

Oh i forgot you need to protect your CU/fannie friends. Guess JGrant can't answer questions about her statements. So how does "fannie" set parameters?