When is a Review Required to meet Std 3?

[djd09]

most appraisers know how the story goes. nitpick, slow down in work, eventually to nil, approve their 3 letter friend, all is well for them. no imagining there.

 

[J Grant]

most appraisers know how the story goes. nitpick, slow down in work, eventually to nil, approve their 3 letter friend, all is well for them. no imagining there.

Ridiculous (some ), appraisers are too paranoid for their own good.

 

[djd09]

been there, done it. blacklists are confidential information.

 

[glenn walker]

In the typical transaction, the review appraiser has a contractual relationship with the lender who is his/her client. The lender/client engagement and the reviewers scope of work is based on reviewing the appraisal and reporting their findings to their client. Unless authorized by the client the reviewer who files unauthorized complaints with the original appraisers State Board may have broke USPAP regarding client/confidentiality. The reviewer has also possibly placed his/her client in a bad legal position because the Original appraiser could file his/her own complaint against the reviewer based on Standard-3 violations or other USPAP errors the reviewer had made.

In the lending world there is nothing more scary than a reviewer that has gone Rogue because they often behave or start believing that they can do what they want, and they often start believing that only they can come to the rescue by helping get another appraiser off the street. This personality type is often someone who has failed to think about what ramifications this can have, and what potential liability they may be laying out for both themselves and their client.

This type of reviewer is often too hard headed or ignorant and won't even pick up the phone and call his or her E & O legal department to get advice on lender/client confidentiality, and whether his E & O will covers him if the original appraiser fights back with a counter complaint about his USPAP deficient review.

In Summary:
A reviewer owes it to his client to stick to the purpose of the engagement and to his scope of work. Once he/she goes outside these lanes he is opening himself up walking through a mine field of potential issues that could have been prevented by just sticking to their job.

 

[djd09]

"What’s behind the defamation claims? Review appraisers are more susceptible to libel and slander claims than are appraisers who perform standard appraisal work. With any type of review there is the potential for the appraiser whose work is reviewed to be offended or injured by the content of a negative review. In some situations, a negative review can result in the appraiser losing work, winding up on a “blacklist,” facing disciplinary action or being sued for professional negligence. "

Lawsuits Targeting Appraisal Reviews on the Rise

professional negligence. I love that term.

 

[RCA]

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

On this forum, from time to time appraisers admit to turning other appraisers in, once in a great while. It can happen. And reviewers get to see a ton of reports, and you had better believe in the existence of politics and loosely formed mafias/groups/clicques (so to say).

 

[RCA]

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.

Are you saying ALL reviewers are human, in the sense that they are always considerate and understanding? Hmmmmm. Are you really an appraiser?

 

[George Hatch]

I've had literally thousands of appraisers come through the CE courses I was teaching over the years and IMO most all of them are working in good faith. It's been extremely rare for me to come across an appraiser who actually intends to be the outlaw. Even when I've caught an appraiser lying they always seem to believe that they're just doing what everyone else does, and they don't consider their own actions to be out of line "in the real world"

The intention that appraisers have that they're working in good faith is what I appeal to when I review. That almost always works except if/when my client demands are too far ahead of what they normally do. But even then they generally recognize that it's the client's expectations they're struggling against - not me.

Sending emails where I can explain both the what and the why of the requirement has been a good strategy for me.

 

[alebrewer]

Are you saying ALL reviewers are human, in the sense that they are always considerate and understanding? Hmmmmm. Are you really an appraiser?

I think he's saying that (a) all appraisers are human, and (b) all reviewers are appraisers (at least in this scenario), thus (c) all reviewers are human. In addition, (a) all humans make mistakes. Thus, (b) all appraisers (who we've already asserted are humans) make mistakes, and (c) all reviewers, who are appraisers, and who are humans, make mistakes. Not to put words in his mouth, though.

 

[RCA]

By definition all appraisers are humans in the sense you dictate; that is why it is meant in another sense, i.e. considerate and understanding. Of course there are appraisers, indeed all kinds of people who can be considerate, understanding and harsh at the same time. Now whether that rates as "human" in this sense would be a good subject of discussion. People get expensive tickets for speeding just over the limit, because society dictates that is necessary to get conformance to the law which in turn makes the highways safer. Same can be said to be true of appraisal, medicine, pharmacy and so. Only of course, our transgressions are not so clear cut as simply going over some speed limit. Indeed, we don't even have a speed limit.