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Using Collateral Underwriter to Turn Appraisers In

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The complaint process is a joke. Appraising is not as simple as a UW, Reviewer, or State Investigator thinks it is. They are given an absolute veto power, but they never have to submit one item, one fact to support their veto. They go to national classes to learn how to always win regardless of the merits. The market and appraisers have two simple, easy achilles' heels, adjustments and H/B Use. Even in law, lawyers strive to be a judge to make the system better. Those that are Uw, reviewers, and investigators are mostly 'those who can't' and can hide behind being in authority or administrative law.
 
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"What is "methodology" then?"​

I'm talking about getting to an unreasonable value conclusion in an SFR appraisal. The other defects are still defects and they are worth a note, but they're not going to make a value conclusion go bad. They're not going to cause me as a reviewer to reject the appraisal report altogether. the states shouldn't be suspending or revoking licenses for such things, either; except when done for the purpose of making an unreasonable value conclusion look legit.

IMO, the way a reviewer should handle housekeeping stuff is via stips so that the appraiser learns from their mistakes and goes forth to sin no more. I don't look at the role of reviewer as being primarily adversarial in nature the way some people seem to think it is. I look at is as a supervisory and instructional role because if appraisers understand why the requirement is there most of them will take it more seriously. It's when appraisers are making the same mistakes repeatedly after being shown how to do it appropriately that a reviewer will be compelled to take the next step in the continuum.
 
George Hatch said:
It's when appraisers are making the same mistakes repeatedly after being shown how to do it appropriately that a reviewer will be compelled to take the next step in the continuum.
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I view errors in logic as difficult to vet the root of the problem.
I view incompetency as a serious matter. A person should know their limits.
I view using the cost approach incorrectly as bad education and when it comes to the CA, I am convinced the average appraiser TODAY dismisses it as meaningless and the income approach even more so. CRs equate sales with market data, but nothing else as market data. They think the world revolves around the sales approach ONLY. Never mind that cost is market data. Rents are market data,
I view HBU checkbox as fixable easily by the forms making a space and label it HBU analysis...the appraiser is only "following the form" and views a residential property as obviously being the HBU and frankly, that's right about 101 times out of 100. Its a 30 sec. decision...if you take your time.
 
highest and best use is a complete joke. i can't even get local zoning departments to state if a property is a legal use, illegal use, legal non conforming use. and if they do not know , who does? :rof:

highest and best use is a socialist (commie) theory, nothing more or less. :rof: :rof:
 
djd09 said:
highest and best use is a complete joke. i can't even get local zoning departments to state if a property is a legal use, illegal use, legal non conforming use. and if they do not know , who does? :rof:

highest and best use is a socialist (commie) theory, nothing more or less. :rof: :rof:
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I've had this issue too, alongside with having different people at zoning telling me different things. It is like rolling the dice of whatever the zoning wants to tell me as of the effective date of the current assignment. My issue is what if it is not a legal use but the county does not enforce it, so market participants value it the way it is. Have a county that does not allow detached ADU, but they allow detached structures that are finished. So I ask if they consider a detached dwelling with living space, kitchen, bath and separate rooms people could sleep in an ADU and I'm told its only an ADU to them if its used as such. So basically it is not illegal according to this person from zoning as long as people say its not being used as an ADU. But it looks like an ADU, the market would consider it an ADU, but I'm told its legal as long as the owner claims its not being used as an ADU. So when do I say it doesn't comport with zoning, when I can get the owner to say they will use it as an ADU?
 
shrubberyvaluation said:
I've had this issue too, alongside with having different people at zoning telling me different things. It is like rolling the dice of whatever the zoning wants to tell me as of the effective date of the current assignment. My issue is what if it is not a legal use but the county does not enforce it, so market participants value it the way it is. Have a county that does not allow detached ADU, but they allow detached structures that are finished. So I ask if they consider a detached dwelling with living space, kitchen, bath and separate rooms people could sleep in an ADU and I'm told its only an ADU to them if its used as such. So basically it is not illegal according to this person from zoning as long as people say its not being used as an ADU. But it looks like an ADU, the market would consider it an ADU, but I'm told its legal as long as the owner claims its not being used as an ADU. So when do I say it doesn't comport with zoning, when I can get the owner to say they will use it as an ADU?
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i almost had the same issue. detached adu. the local 'authority' said it did not exist. they said it was a garage. nope. then they said they would have to send someone from their department out to see, but since they were short handed due to the 'rona' it would be at least a month. so now what. wait. geez
 

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unbelievable commie laws for a fee i mean more codes please :rof:





:rof: :rof:
 
HBU analysis isn't about verifying building permits, in most assignments it's about developing an opinion as to whether the property is worth more in the market the way it sits or as land value. Moreover, HBU analysis is an Appraisal 102 topic that every appraiser should have received instruction in their QE and training from their supervisors. It's something you guys should have been doing all along, not some opt-in accessory to the appraisal process.

With that said, for most properties what you see is what you get, so failure to even consider HBU isn't going to affect the outcomes of most of your assignments. Possibly almost all of them. It's something for a reviewer to always note, but only occasionally will it be a big enough deal to render an appraisal wholly unsuitable for anyone to use.
 
shrubberyvaluation said:
She said Fannie asked for a rebuttal. Can she provide a rebuttal to them since the lender is the client or did Fannie go through the lender?
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agreed. I've not heard of F/F asking appraisers for rebuttals. That's done at the lender level. I have seen letters they've sent out to appraisers, recommending some kind of corrective action (in general), but never have I seen them ask for a response from an appraiser.
 
Terrel L. Shields said:
I am convinced the average appraiser TODAY dismisses it as meaningless and the income approach even more so.
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I don't see that with the IA... I see appraisers confused on how to perform them, as they're not done that frequently, but I don't see them dismissed by appraisers. Everyone has their own reality, I guess.
 
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