What does it Mean to Protect the Public Trust

[George Hatch]

LOL, you’re the one that brought up being sued. Anyway, the fact of the matter is that you stand a much greater chance of getting sanctioned or sued by inserting USPAP into these Evals when neither your state nor financial Institutions require you to do so. If appraisers had the choice, 9 out of 10 would follow what their clients want, which would be the IAG guidelines.

Oh, so that wasn't you who posted

 

[Mejappz]

Oh, so that wasn't you who posted

View attachment 78393

Liability comes in different forms. You don't have to be sued, but you could get fined or sanctioned by your state board. Nice try, though.

 

[George Hatch]

Same thing. If someone like you were to run their mouth about me not meeting the requirements they better know what they're talking about, too.

TBH, I don't understand why you're even trying to argue the point with me. You aren't USPAP competent on the topic, you aren't CG competent. You don't work for such clients, you don't appraise such properties and you've never completed such assignments or spoken with the chief appraisers about them during the Q&A of their engagement process. This topic is 100% over your head except what you might have read about what other people have said about them. Presumably including some of the same AI crowd who have been trying to marginalize and undermine appraiser licensing for the last 10 years. ( I am referring to others besides your worm farmer guru)

I've done what you do and I never forgot how to ride a bike. I'm appraising a $7M hillside home this week so you can't say I'm not current on the one property type that you do appraise. All you can say is that I've never worked for AMCs. Or done FHA assignments.

 

[Mejappz]

Same thing. If someone like you were to run their mouth about me not meeting the requirements they better know what they're talking about, too.

TBH, I don't understand why you're even trying to argue the point with me. You aren't USPAP competent on the topic, you aren't CG competent. You don't work for such clients, you don't appraise such properties and you've never completed such assignments or spoken with the chief appraisers about them during the Q&A of their engagement process. This topic is 100% over your head except what you might have read about what other people have said about them. Presumably including some of the same AI crowd who have been trying to marginalize and undermine appraiser licensing for the last 10 years. ( I am referring to others besides your worm farmer guru)

I've done what you do and I never forgot how to ride a bike. I'm appraising a $7M hillside home this week so you can't say I'm not current on the one property type that you do appraise. All you can say is that I've never worked for AMCs. Or done FHA assignments.

I see. You again have an emotional breakdown when you’re losing the argument, same old same old.

 

[George Hatch]

What emotion? All I've been saying is that if I'm doing what the evals actually require then it takes very little to bring that service into compliance with the minimums in USPAP. You're the one who thinks there's some huge difference between the two and that appraisers should be afraid of being held to account for what's required for an appraisal.

Exactly how fearful of your "liability" are you when you sign your appraisal reports? You shouldn't be fearful at all. I'm sure your work is fine.

 

[djd09]

if you are complying with USPAP, why are you calling it an eval and not an appraisal...

 

[Terrel L. Shields]

I'm doing what the evals actually require

There is no such thing as a 7 million dollar "evaluation". They are for properties BELOW the de minimus level only. I believe the commercial de minimus is $500,000. Above that it has to be an appraisal which complies with the IAG - evaluation standards are moot at that point.

 

[Non Sequitur]

There is no such thing as a 7 million dollar "evaluation". They are for properties BELOW the de minimus level only. I believe the commercial de minimus is $500,000. Above that it has to be an appraisal which complies with the IAG - evaluation standards are moot at that point.

Nope. De minimus thresholds refer to the transaction amount not the value of the collateral.

 

[George Hatch]

There is no such thing as a 7 million dollar "evaluation". They are for properties BELOW the de minimus level only. I believe the commercial de minimus is $500,000. Above that it has to be an appraisal which complies with the IAG - evaluation standards are moot at that point.

If you're talking about the SFR I'm appraising, that isn't an eval assignment.

 

[Terrel L. Shields]

Nope. De minimus thresholds refer to the transaction amount not the value of the collateral.

Depends upon the institution and its size. The smaller banks generally do not do evaluations for large properties regardless the loan amount.

Each FDIC-supervised institution shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate.​