Using our own Slang or Abbreviations?

[BRCJR]

which is the point....the BORROWER doesn't either and they have a lot of skin in this game with cert. #23 - and the Loan officer? Do you actually think they teach a UAD course to them? Of course not.

Agree. I do 99.9% of my work in the review mode. It appears to be a regional thing. I can just about tell who trained who by the verbiage and terms used in reports.

The difference of 75 to 100 miles (less often enough) makes a difference in abbreviations.

 

[residentialguy]

which is the point....the BORROWER doesn't either and they have a lot of skin in this game with cert. #23 - and the Loan officer? Do you actually think they teach a UAD course to them? Of course not.

Sorry, 23 does not mean that. The appraiser identifies the intended user. Cert #23 is NOT to be interpreted as the appraiser is granting permission for use by other parties not identified as the intended user....and I have that stated in the first page in my intended use and user explaining my SOW.

If a client orders an appraisal to be written in Italian, it is expected that they can read Italian.

 

[hastalavista]

I think the original question had to do with UAD and an appraiser's own set of terms.

UAD is defined. The "appraiser's own set of terms", unless the appraiser defines them in the report, is undefined.

My advice is this: If anyone is going to use their own shorthand in the report, then one should state exactly what that shorthand means in the narrative.

 

[residentialguy]

I think the original question had to do with UAD and an appraiser's own set of terms.

UAD is defined. The "appraiser's own set of terms", unless the appraiser defines them in the report, is undefined.

My advice is this: If anyone is going to use their own shorthand in the report, then one should state exactly what that shorthand means in the narrative.

Bond

Additional Comments: Pond in the VIEW line means there's a pond view. Derrrr....


How's that, Dennis :icon_mrgreen:

 

[hastalavista]

Bond

Additional Comments: Pond in the VIEW line means there's a pond view. Derrrr....


How's that, Dennis :icon_mrgreen:

If anyone is going to use their own shorthand in the report,

Is "pond" shorthand for something?

 

[residentialguy]

Touché, Monsieur DeSaix

 

[Terrel L. Shields]

Bond

Big Pond, Bass Pond, Beaver Pond, Blue Pond...

The borrower can "rely" upon the report - intended user or not, same old Cert 23 issue.

My reports had a page full of abbreviations back in the form days. Without those and the UAD terms defined, I don't see how anyone but a residential appraiser could accurately determine what those terms mean. Same for loan officers. Unless they've been trained...???

 

[residentialguy]

Big Pond, Bass Pond, Beaver Pond, Blue Pond...

The borrower can "rely" upon the report - intended user or not, same old Cert 23 issue.

My reports had a page full of abbreviations back in the form days. Without those and the UAD terms defined, I don't see how anyone but a residential appraiser could accurately determine what those terms mean. Same for loan officers. Unless they've been trained...???

They can rely on them in the sense that it is for the lender's use and they can rely on it to satisfy the lender's needs - they are relying on it for their loan...but it is not meant for the homeowner to read and understand. What if the HO is blind...guess we'll go to court because it wasn't in braille.

That's just a ridiculous assertion. It's not for the HO personal use, it's for the lender that loan purpose on a mortgage finance transaction, subject to the stated Scope of Work and purpose of the appraisal


Again, if they ordered the appraisal to be written in UAD language, it is assumed that they know how to speak the language. Don't order the appraisal in Japanese if you can't speak Japanese.

 

[Terrel L. Shields]

...but it is not meant for the homeowner to read and understand

tell that to a judge.

they ordered the appraisal to be written in UAD language, it is assumed that they know how to speak the language

The UAD was invented for appraisers by Fannie Mae. It is not a lender document. They don't read USPAP either but then again neither does Fannie Mae.

 

[residentialguy]

The UAD was invented for appraisers by Fannie Mae. It is not a lender document. They don't read USPAP either but then again neither does Fannie Mae.

Then they shouldn't order it. You make a good point with USPAP. Do you attach a full copy of USPAP to all your reports so everyone can understand???

tell that to a judge.

I will

There is no way that we can write the report for the buyer or homeowner to understand. Is he blind and need it written in braille? Is he mentally challenged and need it written in elementary school language? Does he even speak English? Comprendes Señor? Sorry, but what you are suggesting it would be impossible.

When a report is requested to be in a certain language, it is assumed that the language is known by the requester. I don't even put in the UAD definitions in my reports, as I don't want to give the appearance that my report is intended for anyone or anything else but the intended user and use that I stated in MY report.