Virgina REAB and Portal Petition

[George W Dodd]

The first so is that you statement about "lowest level" was factually false. I just thought I'd point that out. I don't care much for the promulgation of USPAP errors.

USPAP is the lowest level of required work product. An Appraiser can do more, but not less. Hence, the lowest level.

Is it true that you are a VP at Wells Fargo?

 

[Fred]

An Appraiser can do more, but not less. Hence, the lowest level.

No, there are lower levels and appraisers "can" do less.

Also, an appraiser can do "more," but all the more can be garbage. In that case, the more is probably the lower level work.

 

[George W Dodd]

Contest:

I've found several likely USPAP violations on the example appraisal submitted by Mr. Wiley. I'll give you one to get started: Sale No. 3 adjustment for financial concessions. The report does not state what those concessions were, how it impacted the sales price, nor how the adjustment was developed. Kind of misleading isn't it.

Can anybody find the others? Should these errors be addressed at the VA Board Meeting? It certainly speaks to the credibility issue of "I was the chairman of ASB and I know everything about USPAP" argument. Should the report be sent to TN Appraisal Board and/or the professional organizations?

Or can the claim be made it was only for educational purposes and an appraisal report doesn't need to be USPAP compliant when it's just made up, even though its been submitted to a State Appraisal Board?

 

[George W Dodd]

No, there are lower levels and appraisers "can" do less.

Also, an appraiser can do "more," but all the more can be garbage. In that case, the more is probably the lower level work.

Really? how about some examples of appraisal assignment where the Appraiser can do less than required by the USPAP.

I notice you missed the question about Wells Fargo, is it true?

 

[Fred]

Really? how about some examples of appraisal assignment where the Appraiser can do less than required by the USPAP.

Ones where regulations create exemptions.

I've found several likely USPAP violations on the example appraisal submitted by Mr. Wiley. I'll give you one to get started: Sale No. 3 adjustment for financial concessions. The report does not state what those concessions were, how it impacted the sales price, nor how the adjustment was developed. Kind of misleading isn't it.

Who was misled?

BTW, since USPAP is such a "low" level of work, maybe it doesn't require one to state "how an adjustment was developed." Does it? Is implying that there is such a requirement, misleading? :icon_lol:

 

[George Hatch]

Don't get me wrong, I don't think any legitimate appraiser has a problem with limiting control to signature application on an individual rather than blanket basis.

The truth is, I'm quite happy they used enough judgement to avoid trying to ban both the verbal and written permission modes of control.

The written authorization protocols that the skippy shops use won't flow from supervisor to junior. It'll probably be the other way around; meaning the junior appraiser will probably boilerplate the written/signed permission to their supervisor to apply their signature for that file in one of the addendum pages, possibly one that doesn't get printed into the pdf. This limitation won't even slow those guys down, but it might do something to the portal companies if/when it can ever be proven (as with E-AppraisIT) that thay actually remove and reapply signatures.

If push comes to shove and they really want to do it, the portal companies will just require you to provide that written permission in each appraisal you upload through them.

But, whatever. If this restriction makes you guys feel more comfortable about it all then by all means, go forth.

 

[DTB]

If push comes to shove and they really want to do it, the portal companies will just require you to provide that written permission in each appraisal you upload through them.

Aah, whatever happened to the days business being a win-win proposition? :blush:

 

[George W Dodd]

Ones where regulations create exemptions.

Who was misled?

BTW, since USPAP is such a "low" level of work, maybe it doesn't require one to state "how an adjustment was developed." Does it? Is implying that there is such a requirement, misleading? :icon_lol:

Is there a reason you will not answer the question about Wells Fargo?
It's a straight forward question and gives readers the prespective of your comments. Either you are an employee of Wells Fargo or not, which is it?

 

[George Hatch]

"Lowest requirements" does not mean the same thing as "minimum requirements".

 

[George Hatch]

Aah, whatever happened to the days business being a win-win proposition?

I'm a big fan of win-win scenarios. I've always advocated that appraisers should work within the framework we have to both provide the services our users think are meaningful to them as well as protect our own interests.

Of course, some requests must result in a loser as well as a winner. We can't always find common ground.

Most of the win-win scenarios that I've ever seen have been the result of a certain amount of compromise and negotiation, usually initiated by the appraisers. I haven't seen much in the way of win-win resulting from openly adversarial attitudes.