Why are appraisers punished for the property they are assigned?

[Tim Hicks (Texas)]

So, to stop the revision requests I put one (I asked which one) parcel number with an asterisk on the parcel number line and stated in the body of the report that the underwriter thinks the subject only has one parcel number and has demanded only one parcel number, but my research shows three with all three numbers and reports (see attached). One week later, what do you think I got? That's right. A revision request asking for three parcel numbers to be put on the report. Idiocracy is upon us. The original appraisal date is now a month old, but appraisers are the ones that are delaying the loan process. Needless to say, I don't want or need this lender's business anymore.

 

[Red Flint]

I wish anyone here lots of luck trying to find a fee report of mine to review

Found one!

Developmental mechanisms underlying webbed foot morphological diversity in waterbirds - Scientific Reports

The webbed feet of waterbirds are morphologically diverse and classified into four types: the palmate foot, semipalmate foot, totipalmate foot, and lobate foot. To understand the developmental mechanisms underlying this morphological diversity, we conducted a series of comparative analyses...

www.nature.com

 

[Functional Obs]

I have noticed when I get a difficult assignment, my VEROS score is considerably lower on VA assignments.

Was this always the case, or is it more recent? I believe the quality of the initial reviewer has gone down. They're using a one-size-fits-all checkbox, and I don't think they have much power at that first level.

 

[Tom D]

So, to stop the revision requests I put one (I asked which one) parcel number with an asterisk on the parcel number line and stated in the body of the report that the underwriter thinks the subject only has one parcel number and has demanded only one parcel number, but my research shows three with all three numbers and reports (see attached). One week later, what do you think I got? That's right. A revision request asking for three parcel numbers to be put on the report. Idiocracy is upon us. The original appraisal date is now a month old, but appraisers are the ones that are delaying the loan process. Needless to say, I don't want or need this lender's business anymore.

Always remember, you can't cure stupid. You can only endure it.

 

[Mark K]

I drop in here once a year to every other year just to celebrate how wonderful it is to have left this all behind! <smile>

Don't worry about us. We have Burt when we want to hear condescending BS from the self-appointed 'smartest guy in the room'.

But thanks for dropping in.

 

[Terrel L. Shields]

I'll not worry one bit about some report I signed from over fifteen years ago.

Arkansas made the mistake of filing against a lawyer-appraiser. In the end, they paid him $4,000 and agreed that they would not adjudicate anything beyond the 3 years statutes of limitations (except the 5 year record keeping rule.) Seems the state has a 3 year SOL and so the board is abiding by the law anyway. The ASC had a hissy fit and demanded they rescind that rule, but the board told them to stuff it. State law was state law and they had agreed to abide by it. The ASC policy was that the appraiser would own and be responsible for their reports unto the grave.

 

[NC Appraising]

Excellent post!!

This is how **** poor appraisers get the majority of the work. It is not about the quality. It is about who can turn in the appraisal the quickest, while appraising to the guidelines/LOE. (not making adjustments, not stating anything that would cause a rejection, make the neighborhood boundaries extra-large, etc.)

 

[Essexfenwick]

Any appraiser that’s been around a long time has a handful of

“Gosh I wish I never accepted that appraisal”

And the misery that follows.

 

[NC Appraising]

I just got this rejection. The subject is a new 100% completed home in a pud development. It has a bonus room, a bed and a bath on the second floor. Typical 1.5 story cottage home. Normal home. No functional issues. Tract home. I also included the permit in the original report.


Revision Request:

Lender Request:

Appraiser to please confirm if the bonus room is permitted and that there is no safety issue.


All revision changes in the report should be listed in a dated addendum. Please upload the revised report as soon as possible. Please update the date of the report before re-submitting since, per USPAP, the signature date of the report should be the date the report is completed and transmitted to the client.

 

[bnmappraisal]

Remember when Mike used to say, "Another fine reason".

Perfect response for MANY of the topics brought forth. Hope he's doing well