Unintended consequence of reviews

[J Grant]

Again... it is not a failure of USPAP. Neither USPAP nor the TAF have any control over what Lenders, or any non appraiser, means when they say 'Review'.

My point was that UPSPA, which specializes in splitting hairs, should stipulate that only an appraiser can perform an appraisal review ( and lay out what a review entails) and that any clerical evaluation of an appraisal has a different name—whatever that name is.

USPAP controls who does what regarding appraisal practice, and what labels are used to differentiate. They segmented off huge parts of the appraisal to be allowed to be done by non-appraisers. Thank you, USPAP, you spinless bunch of blowhards changing a definition every 2 years while the profession dies. There is a reason why the profession is circling the drain, and this, imo, is just one of many. The profession did not become massively degraded on the residential mortgage lending side with a huge influx of non-appraisers into the work by accident.

Professors with strong advocacy from organizations, such as RE brokerage, did not see what happened to us. The recently settled lawsuit, where RE brokers were in the wrong, saw NAR protect its own profession; the net result is that the RE agents and brokers do not lose a dime in commissions. And btw, Fannie and Freddie raced to enable it by telling Lenders that a buyer's paid commissions are not part of concessions. Compared to Fannie and freddie and appraisal organizations saying nothing ( it is not our role !! ), saying and doing nothing when AMC's took up to 50% of appraisal fees .

 

[DWiley]

USPAP controls who does what regarding appraisal practice, and what labels are used to differentiate.

USPAP addresses those things, but it certainly does not control them. USPAP only applies when there is a law, regulation or agreement that makes USPAP applicable.
Just look at personal property appraisal.
Even in real estate appraisal, there are several non-mandatory states where compliance with USPAP is only required for certain assignments.

 

[J Grant]

Put it this way then, USPAP can not control things such as compliance - but it lays out what needs to be complied with (along with the language that differeniates ).

 

[DWiley]

Put it this way then, USPAP can not control things such as compliance - but it lays out what needs to be complied with (along with the language that differeniates ).

Yes, but only for those who are required to comply.

The rules of baseball do not apply to a football players. The rules in USPAP do not apply to non-appraisers (or to appraisers who are not required to adhere.)

Simply put, there is no way USPAP can control (or even affect) the terminology that others use.

 

[J Grant]

Yes, but only for those who are required to comply.

The rules of baseball do not apply to a football players. The rules in USPAP do not apply to non-appraisers (or to appraisers who are not required to adhere.)

Simply put, there is no way USPAP can control (or even affect) the terminology that others use.

I realize USPAP can not control the actions of others or what they use. I have said that multiple times.

However, USPAP defines what is and what is not part of appraisal practice, yet has one label that can be interchanged - misleading. The word review can mean an appraisal review done by an appraiser or a clerical function done by a non-appraiser. Similar applies to the word inspection

Different labels for what an appraiser does and what a non-appraiser does for performing a function would mean transparency and disclosure, and enable information and allow users and taxpayers to see what is being done by whom.

 

[Dublin ohio]

Different labels for what an appraiser does and what a non-appraiser does for performing a function would mean transparency and disclosure, and enable information and allow users and taxpayers to see what is being done by whom.

So since USPAP only applies to appraisers. How would you enforce what words non appraisers use.

 

[DWiley]

I realize USPAP can not control the actions of others or what they use. I have said that multiple times.

However, USPAP defines what is and what is not part of appraisal practice, yet has one label that can be interchanged - misleading. The word review can mean an appraisal review done by an appraiser or a clerical function done by a non-appraiser. Similar applies to the word inspection

Different labels for what an appraiser does and what a non-appraiser does for performing a function would mean transparency and disclosure, and enable information and allow users and taxpayers to see what is being done by whom.

You are building your argument on a false premise (in red above). The USPAP term is "Appraisal Review" not "review"

 

[Terrel L. Shields]

My point was that UPSPA, which specializes in splitting hairs, should stipulate that only an appraiser can perform an appraisal review

Banks, by law, have long been required to REVIEW an appraisal. They do not merely throw them into a file without someone physically looking the report over for obvious errors. This is called ADMINISTRATIVE REVIEW in some circles. Reviews done under USPAP are called TECHNICAL REVIEW by some bankers.

 

[djd09]

oh i get it...USPAP is for the peons...rules for thee, not for me

 

[J Grant]

You are building your argument on a false premise (in red above). The USPAP term is "Appraisal Review" not "review"

If reviews by non-appraisers and appraisers are both called Appraisal review in USPAP or called appraisal review and review, the terms are still confusing and misleading regarding differentiating between the two versions. There should be a clearly distinct name for a technical /clerical "review " of an appraisal, especially it can be performed by non-appraisers.