What is an Enhanced Desk Review

[piper1995]

What is the difference between an enhanced desk review, field review, and just a regular desk review? Does an enhanced desk review go on the same field review form 2000?

 

[Thomas Fiehler]

I believe that past posts in this forum have implied that they are a review of the existing report along with 2 (?) new comparables.

 

[Carnivore]

Thats a report that has two appraisal assignments within it!

1. Standard Three Review = $200-$500 on average - individual product
2. USPAP Compliant Apprasial - $200-$500 on average - individual product

As a combined report, the fee probably would be around $500 to $800.

So why did I post this way? Because I know you heard of this product because of some lame AMC who wants to pay you $125.00 total for both of them.

Tell them to screw-off!

 

[Pamela Crowley (Florida)]

Thats a report that has two appraisal assignments within it!

1. Standard Three Review = $200-$500 on average - individual product
2. USPAP Compliant Apprasial - $200-$500 on average - individual product

As a combined report, the fee probably would be around $500 to $800.

So why did I post this way? Because I know you heard of this product because of some lame AMC who wants to pay you $125.00 total for both of them.

Tell them to screw-off!

Appraisers taking those assignments at those fees might as well be out stabbing every appraiser they can find in the back with a butcher knife.

 

[Michael Tipton]

piper1995,

Review appraiser certification #10 on the FNMA field review forms 2000 and 2000A dated March 2005. A licensed or certified license level is required. No one may assist with a field review.

 

[Lee Lansford]

What is the difference between an enhanced desk review, field review, and just a regular desk review? Does an enhanced desk review go on the same field review form 2000?

If your question arises from a specific request for your service, why not ask your client what their requirements are? Wouldn't this answer your question?

One person's "enhanced review" might mean something entirely different to another person.

 

[Offshore]

What is an Enhanced Desk Review?

The true answer is an enhanced desk review is the least expensive way for the lender to attach two E & O polices to the loan.

 

[CANative]

The terms "Field Review" and "Desk Review" are just lender/appraiser jargon to describe the differences in the scope of work of an appraisal review assignment (read Standard 3 in USPAP). "Enchanced Review" is just an AMC product name to describe a desired (but not required) additional step (analyzing and gridding additional sales within the review report).

 

[3 Putt]

With a desk review I sit down and do the work, for my enhanced desk reviews I stand up during the process.

 

[CCAAMO]

Usually when an enhanced desk or field review is ordered, you are ( or shoulld be) getting paid a higher fee because the client is requesting additional sales comparables if they are available.

For a standard deck or field review for many clients, they expect you to add additional sales comparables if you disagree with the value of the sales comparables. The difference is they are not going to pay you an additional fee for adding those comparables.

The moral of the story is to make sure the request is for an enhanced review if you are expected to add additonal comparbles, and then adjust you fee upward accordingly.