Trainee's Participating in Reviews

[Metamorphic]

Rather than add another 20 pages to an already long thread I figured I'd start another.

When we last joined the story, I had called Freddie and was told by the tech that Cert 10 in the 1032 was intended to preclude the used of outside assistance to the signing appraiser, not an internal support like a secretary or trainee. At that time I has asked a similar question the guys at the state board but had not heard back.

The state got back to me. They said that as a trainee I can claim training time on reviews, but after carefully looking at Cert 10/1032 he concluded based on his reading that it couldn't be claimed on an appraisal done on that form. But he also demurred saying he's not Freddie, its not the state's form, and he cant speak to the intent, nor why its different that all the other assistance related certs propagated on appraisal forms.

Since I had a conflict between the state and Freddie I decided to escalate with Freddie. I called back, got another tech. I explained the previous Freddieite's interpretation and the conflict with the State. They took my number and promised to have someone call me back. I guy at Freddie just called me back. I explained the whole thing to him. He said he was leaning towards the "no outside the signing appraisers organization" intepretation, but that he'd run it up the chain of command to get some sort of definitive statement on the subject.

 

[Kevin Mc]

LOL...can't even get a straight answer from either of them...jeez.

 

[CANative]

Cert 10 pertains to conclusions and opinions. The trainee can do grunt work (research, checks for consistency and accuracy of report data versus source data, etc., etc.). This is would very helpful to the trainee but it would not qualify for experience log hours. It precludes the trainee from providing signficant professional assistance.

In California, regardless of the form or certification or client requirement it would not count toward Category I (Fee and Staff Appraisal)...

Category 1. Fee and Staff Appraisal
A real property appraisal prepared by a person who is employed by another, usually a lending institution or government agency, or who is paid a fee for the appraisal assignments he or she performs shall:
• Be a written document;
• Use the entire appraisal process;
• Use all appraisal methods (market, cost, income) customarily used for a particular property type
(i.e., residential, commercial, industrial, etc.);
• Conform to USPAP, particularly Standards Rules 1 and 2; and
• Include analysis completed by the applicant.

And Category 3 has limitations (up to 400 hours but only after 1600 hours in other categories:

Category 3. Review Appraisal
A Field or Desk Review
Experience in this category shall:
• Be limited to a maximum of 400 hours towards meeting the minimum experience hours required, but only after obtaining 1,600 hours of acceptable experience in other categories;
• Not contain more than 50 percent of the hours in the performance of desk reviews;
• Be a written document separate from the appraisal itself;
• Be an appraisal prepared by employees, associates or others;
• Not be signed by the reviewer of the appraisal being reviewed;
• Be a “technical review,” where the review appraiser forms an opinion as to whether the analyses, opinions and conclusions in the appraisal report under review are appropriate and reasonable, as opposed to an “administrative review,” which is work performed by clients and users of appraisal services as a due diligence function in the context of making a business decision, such as underwriting, buying or selling; and
• Conform to USPAP, particularly Standards Rule 3.

 

[OSU Beavers]

Having my trainee spot the problems in another appraisal was one of the best teaching tools. It was sort of like playing "Where is Waldo" except looking for errors instead. I'd spot 30 in a report, he would spot 24, but two of thouse were ones I did not have so it helped both of us!

Of course I would write the entire report.

 

[cdeyoung20]

Even if a trainee performing significant assistance in a 2005 version of the field review wasn't a violation of USPAP (because of being misleading to the reader) our state only allows
"

Review of appraisals shall be worth
20% of the points awarded for the
appraisal (not to exceed 20 points​

per year).

It really doesn't matter what Freddie or Fannie say on the phone or even if they give something in writing. Until they change the wording on the 2005 version of the field review form, no one in my office will walk that fine line. It's not worth it and I really don't understand whay a trainee would take the chance of crossing that line. You don't even have your certification yet. Why don't you just use the field reviews for a learning experience rather than working them up, which is a violation of the 2005 field review form.

 

[Metamorphic]

Spoke with the next person up the line at Freddie. She searched their support data base and found that this Q has never been broached before. She's going up to the next level. Her impression was that a different cert was produced because the 1032 was only a 1 sig block form instead of the usual 2.