Virgina REAB and Portal Petition

[Ken B]

If they know that there is a likelihood that their appraisal will be changed, yes. Playing innocent after you willingly did business with someone whom you knew would alter your report falls under the doctrine of "unclean hands". You got no defense if you knew or should have known, that makes you an accomplice.

I would not willingly provide a product to someone if I knew they were going to materially change the information provided and submit that information to a party who, dependant upon the changed information, makes a decision that would differ from a decision that would be made using the information originally provided by me.

In other words, if any change made to a copy of my report does not materially alter the information provided, where is the harm to any party?

No harm, no "unclean hands."

 

[McPheeters]

(q) electronically transmit an appraisal report without taking reasonable
steps to ensure that the report cannot be altered or modified.
(r) electronically submit an appraisal report with the knowledge or intent
that the report may be alter or modified by the client, liaison of the recipient,
or appraisal management company.​

I hate it when they don't indent the outline format - it's really hard to follow, but this is the gist of it - they're going after the slice and dice portals. ​

I like this part as well:

(o) fail to maintain at all times direct control of the appraiser’s signature and the
method by which that signature is affixed to an appraisal report. An appraiser may
grant
permission to another to affix the appraiser’s signature to an appraisal report
provided
that the permission is in writing, the permission extends to only one specific
appraisal
report, the writing identifies the report and the amount of the opinion of value,
and the
appraiser maintains a copy of the written permission in the appraiser’s work file.
An
appraiser shall not grant blanket authority to another person to affix the
appraiser’s
signature to an appraisal report or reports;

Looks like "authority" is deciding......and they appear to be going in the right direction, good for them!

​

 

[McPheeters]

If they know that there is a likelihood that their appraisal will be changed, yes. Playing innocent after you willingly did business with someone whom you knew would alter your report falls under the doctrine of "unclean hands". You got no defense if you knew or should have known, that makes you an accomplice.

There it is folks, you send it, you own it. Simple.

 

[Roscoeman]

There it is folks, you send it, you own it. Simple.

Thanks and I can't agree with you more!!!

 

[Smokey Bear]

I like this part as well:

(o) fail to maintain at all times direct control of the appraiser’s signature and the
method by which that signature is affixed to an appraisal report. An appraiser may
grant
permission to another to affix the appraiser’s signature to an appraisal report provided that the permission is in writing, the permission extends to only one specific appraisal report, the writing identifies the report and the amount of the opinion of value, and the appraiser maintains a copy of the written permission in the appraiser’s work file.
An appraiser shall not grant blanket authority to another person to affix the appraiser’s signature to an appraisal report or reports;​

Looks like "authority" is deciding......and they appear to be going in the right direction, good for them!​

 

[Smokey Bear]

I would not willingly provide a product to someone if I knew they were going to materially change the information provided and submit that information to a party who, dependant upon the changed information, makes a decision that would differ from a decision that would be made using the information originally provided by me.

In other words, if any change made to a copy of my report does not materially alter the information provided, where is the harm to any party?

No harm, no "unclean hands."

Lessee, um, they remove your comments, replace them with "see attached addendum" and then leave off half the addendum? That's not "material"? And leaves off the extra pictures, you know, the ones that show the sunlight through the hole in the roof? That goes with the comments about the hole in the roof that got left off because your addendum was cut off? But hey, that's not material, it wouldn't lead the lender to make a different decision.

 

[Workbox]

What exactly is wrong with a statement that appraisers should look at what they are sending before they send it? It sounds more like sound business practice than a slap on the face to me.

Chances are that hundred or thousands of appraisers are not extensively aware of this process and are just now catching on to it, and maybe having to change their pants in the process. That may be the reason why so many are contacting you.

 

[Ken B]

Who is "they" and what does your scenario have to do with the basis of this discussion, which is an argument against electronic portals and, now, GA proposed rule change?

 

[Ken B]

Chances are that hundred or thousands of appraisers are not extensively aware of this process and are just now catching on to it, and maybe having to change their pants in the process. That may be the reason why so many are contacting you.

I may or may not have been in private contact with Danny about this topic. But if I was, I appreciate his discretion.

 

[Joyce Potts]

It would not be a USPAP violation because the appraiser is not responsible (nor should he/she want to be) for changes made by the client. Here is the Q&A where the ASB said that.

http://www.appraisalfoundation.org/s_appraisal/bin.asp?CID=12&DID=1097&DOC=FILE.PDF

Further, the requirement is to have a true copy what what you sent. There is no requirement to have a true copy of changes made by someone else.

Also, for the umpteenth time, conversion into AIReady happens prior to, not during, transmission. The AIReady file is readily available on the appraiser's computer, just as a PDF or native file would be.

Does AI ready change the Fannie Mae ver. 3/05 certs and limitations page to something else? Are we essentially sending an appraisal to a bank for a loan that is not eligible for re-sale to Fannie Mae/Freddie Mac???

So while we may be USPAP compliant, is our is the appraisal worthless technically to a FDIC bank or any lender for that matter because of the restriction of changing any of the cert pages?