What does it Mean to Protect the Public Trust

[shrubberyvaluation]

I should’ve listened to the users all those times when I was told part of my scope of work was to appraise the home for 500 K.

You failed the public trust!

 

[glenn walker]

I should’ve listened to the users all those times when I was told part of my scope of work was to appraise the home for 500 K.

Yeah, if you knew you weren't going to hit our sales price, why didn't you decline the assignment?

I have walked or got sick on lot's of assignments that I knew had no chance in hell to bringing at or near a Purchase Price. Spent many years seeing appraisers get destroyed by lenders and since there is always someone who will pull it off why not just step aside and keep myself out of the do not use lists. Let someone else deal with the unhappy buyers and borrowers. Funny never lost a client by telling them I had nothing to support the deal and to assign it to one of the more aggressive guys and let them deal with it.

 

[George Hatch]

If and when present, no other options in the market is a "you/me" problem, not a USPAP problem. If the speed limit is 65mph but you're stuck in a traffic jam due to the amount of traffic that isn't because the speed limit failed.

 

[djd09]

faqs are opinions...they mean nothing...no force of law what so ever

they left the unethical users abusers in charge of the sow, assignment conditions, rov's, and such, and they think the foxes will behave....wait it gets better

the appraisers are so untrustworthy that they let the scum bag mortgage brokers estimate value...taf is corrupt, USPAP is useless

 

[alebrewer]

Yeah, if you knew you weren't going to hit our sales price, why didn't you decline the assignment?

That's what comp checks were for... of course, we all know they were free appraisals, but such was the expectation of the users/clients then...

 

[djd09]

just imagine sniffo grabbing your shoulders, inhaling and exhaling into your ear, and whispering public trust

 

[Terrel L. Shields]

That's exactly right.

Then what purpose does USPAP serve? Or for that matter, licensing? If FNMA has selling guides and FHA has 4000.1 then who needs USPAP? The government has its own standards like for land acquisitions. The IRS wants certain things... and as the Robert Palmer case shows, an appraiser who was active pre-licensing can still go to jail under existing laws then.

 

[glenn walker]

Then what purpose does USPAP serve? Or for that matter, licensing? If FNMA has selling guides and FHA has 4000.1 then who needs USPAP? The government has its own standards like for land acquisitions. The IRS wants certain things... and as the Robert Palmer case shows, an appraiser who was active pre-licensing can still go to jail under existing laws then.

Actually it may be time to retire it but that will never happen. I think a alternative way is to eliminate the title appraiser and make everyone do market evaluations which relieves the lenders
of needing appraisers to follow USPAP.

 

[djd09]

FAQ 9

View attachment 77959

how many appraisals did you waive today?

 

[Joe Flacco]

There are many layers to the issue of how we got to where we are and it is very complicated. But bottom line, we failed as a group to provide convincing and credible reports.

We all do the best we know and can. Nobody wakes up in the morning and says I am going to do a crappy job today. It's not an easy job.