SAR Responsibilities

[Ariba]

What is the responsibility of the lender's SAR reviewing a VA appraisal?

Is it to ensure that the appraisal report adheres to the standards outlined in USPAP, including proper appraisal methodology, data analysis, and reporting procedures?

So the question is, how would a SAR be able to ensure that the appraisal report adheres to USPAP? Are they required to take the USPAP class?

 

[Raven59]

I doubt SAR considers USPAP; they check VA minimum requirements. I suspect any USPAP would be very general.

 

[Zoe]

Most SARs are licensed appraisers. Just for your info. I am not sure a SAR can be approved by VA without being licensed appraiser.

 

[Zoe]

Think if you were lender. Would you want licensed appraiser as your SAR?

 

[Raven59]

I found the appraisers at the VA regional offices are appraisers, but many of the lender SARs still need to be. It may vary by area.

 

[Zoe]

They are regional in SARs so consider that.

In other words, the SAR would have to be licensed in all states within the region most likely.

I am sure the lender would pay for that.

 

[Raven59]

Agree. The questions from many SARs are more checkbox in nature than anything with depth. They tend to mix FHA and VA guidelines. I may be making an incorrect conclusion solely based on their questions.

 

[andrew81]

Found this on the VA website

https://www.benefits.VA.gov/homeloans/appraiser_sar.asp

(click on the link for Veros AMS Training for SARs Script)

VeroSCORE is used to quickly assess appraisal risk, determine property eligibility, identify potential
over/under-valuations, and determine if appraisal quality issues are present. It is also used in finding
inconsistencies by flagging items as potentially problematic and determining whether the appraisal is in
compliance with VA appraisal standards, industry-accepted principles, and Uniform Standards of
Professional Appraisal Practice, also known as (USPAP). The most exciting feature of the VeroSCORE is
that the reviewer only has to focus on one score to determine the type of review to perform, which we
will discuss in detail a little later.

 

[Tim Hicks (Texas)]

Agree. The questions from many SARs are more checkbox in nature than anything with depth. They tend to mix FHA and VA guidelines. I may be making an incorrect conclusion solely based on their questions.

I still come across some SARs that don't know there was a new lenders handbook published in 2019.

 

[CCAAMO]

Found this on the VA website

https://www.benefits.VA.gov/homeloans/appraiser_sar.asp

(click on the link for Veros AMS Training for SARs Script)

VeroSCORE is used to quickly assess appraisal risk, determine property eligibility, identify potential
over/under-valuations, and determine if appraisal quality issues are present. It is also used in finding
inconsistencies by flagging items as potentially problematic and determining whether the appraisal is in
compliance with VA appraisal standards, industry-accepted principles, and Uniform Standards of
Professional Appraisal Practice, also known as (USPAP). The most exciting feature of the VeroSCORE is
that the reviewer only has to focus on one score to determine the type of review to perform, which we
will discuss in detail a little later.

VeroSCORE does not work on manufactured homes