Wells Fargo RVS Desktop

[Brian Weaver]

No.
They have no standing with IDFPR and we have no standing with them. Also, I would imagine that they have employees on stafff who are supposed to figure this stuff out. I'm not interested in having myself or the board become consultants. We have something else in mind.

 

[Caligirl]

"APPRAISER’S PEERS: other appraisers who have expertise and competency in a similar type of assignment."

If you don't complete desktops, you are probably not the peer of the appraiser who does, conversely, if you do, you may be.

I don't think it matters if "we" appraisers consider it acceptable for mortgage lending purposes. One size does not fit all.

I totally disagree. First of all, I do not know what a 'desktop' valuation is. I have a desktop; it is on top of my desk. Are you referring to a Restricted Use Appraisal Report? I suggest you stop using uneducated client-generated vocabulary and start using standard appraisal terms for your appraisal work product. Secondly, it is the responsibility of the *appraiser* to decide if the SOW and/or form is adequate to develop and produce a report which is compliant and contains sufficient analysis for its intended use. I would not consider a restricted use report, with no adjustments made, not even for *sales concessions* which may have effected the sales price and might/might not be noted in MLS, to be appropriate for mortgage lending. Of course all of this assumes one is 'ok' with what appears to be a contingent fee.

 

[Mike Kennedy]

Originally Posted by ddnma
"I don't think it matters if "we" appraisers consider it acceptable for mortgage lending purposes."

USPAP support for that opinion please?

 

[AlwaysLearning]

I totally disagree. First of all, I do not know what a 'desktop' valuation is. I have a desktop; it is on top of my desk. Are you referring to a Restricted Use Appraisal Report? I suggest you stop using uneducated client-generated vocabulary and start using standard appraisal terms for your appraisal work product. Secondly, it is the responsibility of the *appraiser* to decide if the SOW and/or form is adequate to develop and produce a report which is compliant and contains sufficient analysis for its intended use. I would not consider a restricted use report, with no adjustments made, not even for *sales concessions* which may have effected the sales price and might/might not be noted in MLS, to be appropriate for mortgage lending. Of course all of this assumes one is 'ok' with what appears to be a contingent fee.

My red
You may want to read Advisory Opinion 2 (page A-5, line 34 - 38) and FAQ #107 page F-49

There is nothing wrong with a “desktop appraisal” per se

And there is no need to equate a “desktop appraisal” with a Restricted Use Appraisal Report. One can communicate a “desktop appraisal” as a Summary Appraisal Report

 

[William K]

The major (mind you there are other problems) sticking point for me is that the assignment violates USPAP in that payment is Contingent upon it being a "HIT" where as if it is a "No hit" there is no payment.

Wells Fargo is soliciting for licensed appraisers to accept these conditions, and these conditions present a contingency which is a violation of USPAP.

I am puzzled that regulators can or will do nothing to inform WELLS to Cease and Desist soliciting licensed individuals to commit what amounts to be a violation of Law in many states.

This feels like someone is walking a fine line that we all know is crossed.

( As an example , If my wife starts to solicit for someone to drive a nail in my head, for $55, is she soliciting to commit a crime? people have had Nails voluntarily and involuntarily driven in their heads without dieing. And if someone does take up the solicitation and I end up dead will they be charged with a crime?)

This is what this feels like to me, we know it's wrong, we know what the results are going to be, but nobody in authority wants to step forward and state you can't solicit this because you are requesting someone violate a law.

 

[Caligirl]

My red
You may want to read Advisory Opinion 2 (page A-5, line 34 - 38) and FAQ #107 page F-49

There is nothing wrong with a “desktop appraisal” per se

And there is no need to equate a “desktop appraisal” with a Restricted Use Appraisal Report. One can communicate a “desktop appraisal” as a Summary Appraisal Report

Please refer to the form we are discussing, which is in Restricted Use Report format. Your post above affirms what I've been saying: that using non-appraisal vocabulary like 'desktop' leads to confusion.

 

[AlwaysLearning]

I totally disagree. First of all, I do not know what a 'desktop' valuation is. I have a desktop; it is on top of my desk. Are you referring to a Restricted Use Appraisal Report? I suggest you stop using uneducated client-generated vocabulary and start using standard appraisal terms for your appraisal work product. Secondly, it is the responsibility of the *appraiser* to decide if the SOW and/or form is adequate to develop and produce a report which is compliant and contains sufficient analysis for its intended use. I would not consider a restricted use report, with no adjustments made, not even for *sales concessions* which may have effected the sales price and might/might not be noted in MLS, to be appropriate for mortgage lending. Of course all of this assumes one is 'ok' with what appears to be a contingent fee.

Please refer to the form we are discussing, which is in Restricted Use Report format. Your post above affirms what I've been saying: that using non-appraisal vocabulary like 'desktop' leads to confusion.

(my red)

That would be your opinion

Just curious, what would be your “standard appraisal term” for a “desktop appraisal”?

Would “desktop assignment” be a better term than “desktop appraisal”?

 

[Caligirl]

You can't be serious.

(my red)

Just curious, what would be your “standard appraisal term” for a “desktop appraisal”?

Would “desktop assignment” be a better term than “desktop appraisal”?

Why don't you start by defining what is it you want done. That is usually where I start with a client when we are discussing the Scope of Work, ie., the development of the appraisal and extent of the research and analysis. From there, a discussion regarding the intended use and user help determine the appropriate format with which to present the report. Whether or not I complete the assignment on my 'desktop' or not has no bearing at all on any of the above.

 

[Mike Kennedy]

desktop = "I-haven't-the-foggiest-idea-shot-in-the-dark-your-guess-is-as-good-as- mine-but-with-my $$ guess-you-get-my-E&O-duhpraisal":new_smile-l:

 

[Caligirl]

If people want to willingly throw themselves under the bus and *argue* with you when you try to stop them...