When is a Review Required to meet Std 3?

[djd09]

landsafe had a review process, too.

 

[bnmappraisal]

Reviews aren't just about agreeing/disagreeing with the opinion of value.

Just figured worth repeating the above!

 

[glenn walker]

Interesting the types of reviews...my impression is that an email exchange between a reviewer and appraiser acts like a consultation between the 2 - end goal a better report but it is not so much a review of the finished appraisal (even though one was done as part of the process ) but goal is to produce an improved version of that appraisal by alerting the appraiser of issues/discussing them to effect outcome.

VS field or desk reviews where the appraisal is completed and it is not a matter of changing the original appraisal/ making it better, the review is of the appraisal as a completed product - usually these are problem child appraisals UW or a QC process identified, whether recent date or forensic review of older eff date reports.

The light finally went on !!!!!

 

[glenn walker]

defining when a standard 3 review has taken place is not within the 600 FAQ's in USPAP.

FAQ'S are not USPAP and read the disclaimers on FAQ'S -- LOL

 

[George Hatch]

The primary limitation with the FAQs is that they are intended only to address the specific situation based on the fundamentals in the source document. They are not intended to establish any new ideas or provide the basis for off-label extrapolation to other situations. If the content was universally applicable it would have appeared as such in USPAP proper.

If you understand USPAP itself then you never learn anything new about USPAP from the AOs or the FAQs.

 

[DTB]

It sure doesn't sound like any of the concerns on the reviewers part rise to the level of turning the OP into the state. It seems more likely the other way around.

Also reads like the reviewer crossed over the line into opinion, but that is easy to have happen. One thing that is lost in the internet age is the tone of someones voice, or the look on their face when having a conversation. I'd give the benefit of the doubt that it might just be lost in translation and move on. Nothing sounded threatening on the reviewers side and may well have been a misunderstanding that occurs because we have gone away from phone calls and face-to-face conversations.

Are you insinuating that gives the reviewer a free pass?

 

[RCA]

What a reviewer can and does do are sliding scales that fits under a kind of a normal curve. If a reviewer wants to submit a complaint to the state board for what he considers shoddy work, he is free to do so, and we can imagine that for most reviewers it is not something they would categorically refrain from. On the other hand, if the reviewer considers the appraisal particularly difficult, i.e. lacking in good data and comps, then he may well basically ignore issues (in the sense of doing no more than making note of their existence) that would otherwise trigger criticism.

 

[Pittsburgh Pete]

How do you know that?

Because I have experienced the same process as I stated earlier. Read the other posts.

 

[J Grant]

What a reviewer can and does do are sliding scales that fits under a kind of a normal curve. If a reviewer wants to submit a complaint to the state board for what he considers shoddy work, he is free to do so, and we can imagine that for most reviewers it is not something they would categorically refrain from. On the other hand, if the reviewer considers the appraisal particularly difficult, i.e. lacking in good data and comps, then he may well basically ignore issues (in the sense of doing no more than making note of their existence) that would otherwise trigger criticism.

Imagine away, because most reviewers don't run around filing complaints with state boards...start a poll perhaps and get insight from people who do reviews on a regular basis or have done a good number of them- in my experience for lender work at least reviewer leaves any action up to the lender, would be less typical for a reviewer as an individual to file a complaint though as you said, they are free to do so

 

[Michigander]

Are you insinuating that gives the reviewer a free pass?

I am saying reviewers are human. Appraisers make mistakes, review appraisers make mistakes. Choose your battles. I tend to believe that people mean to do the right thing and errors happen.