USPAP Compliance Addendum

[CraigAVC]

Back when I was leaving the business, the USPAP Addendum was required by most clients. It was just something we tossed in the back of the report. I'm seeing less of them these days. Do clients not require them anymore, or something?

 

[CANative]

I've only had one request in 18 years.

 

[Lee Lansford]

Back when I was leaving the business, the USPAP Addendum was required by most clients. It was just something we tossed in the back of the report. I'm seeing less of them these days. Do clients not require them anymore, or something?

What specifically was it that was in the addendum?

 

[George Hatch]

Good gravy, Lee; it's been a while. We missed you. Or at least, I missed you.

 

[Terrel L. Shields]

The Department of Redundancy Department

 

[glenn walker]

Back when I was leaving the business, the USPAP Addendum was required by most clients. It was just something we tossed in the back of the report. I'm seeing less of them these days. Do clients not require them anymore, or something?

Yes, on residential , Fannie-Freddie, FHA, VA type deals We previously just stated in the report if there had been a prior service or assistance. ( not a certification ) Now*** Most major lenders & GSE's want it more like a certification . Alamode, Bradford and other software companies, created a form , which the appraiser checks if- it's an-"appraisal report" or a "restricted appraisal report ? then It asks the appraiser if they have completed a prior service on the subject property ? Next did the appraiser have any significant assistance ? And finally it goes to , marketing time and exposure time ? The form is then digitally signed along with the other certification. *** See attached form Bradford provides.

 

[Michigan CG]

I have never included one.

 

[Renee Healion]

You probably already use a format that includes that info. Like the AI. Or anything else with it added into the narrative add'm. It has its place which is, you don't have to say please see lines 103, 117 and 122 in the addendum.

 

[glenn walker]

You probably already use a format that includes that info. Like the AI. Or anything else with it added into the narrative add'm. It has its place which is, you don't have to say please see lines 103, 117 and 122 in the addendum.

Renee, when Uncle Billy goes . I may head to Connecticut : LOL )

 

[CraigAVC]

Yes, on residential , Fannie-Freddie, FHA, VA type deals We previously just stated in the report if there had been a prior service or assistance. ( not a certification ) Now*** Most major lenders & GSE's want it more like a certification . Alamode, Bradford and other software companies, created a form , which the appraiser checks if- it's an-"appraisal report" or a "restricted appraisal report ? then It asks the appraiser if they have completed a prior service on the subject property ? Next did the appraiser have any significant assistance ? And finally it goes to , marketing time and exposure time ? The form is then digitally signed along with the other certification. *** See attached form Bradford provides.

Thank you, Glenn. Much appreciated.