Tagged: LRES

Unintended Use & Misleading Appraisal Reports 13

Unintended Use & Misleading Appraisal Reports

Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they don’t like? Too late. When they blacklist appraisers for refusing to make post effective date contract analysis changes? When they set the fees we charge? When they change the scope of work after assignments are completed? When they LIE to borrowers about how much the ‘appraisal fee’ is? Now we have several that think THEY own MY professional work product? Like HELL they do! Any, repeat, ANY appraiser...

Expert Witness AMC Order Blast & Appraiser's Response 5

Expert Witness AMC Order Blast & Appraiser’s Response

AMC’s order blast for Expert Witness Appraisal Services Before I can offer ANY bid, you folks need to decide whether you want a FNMA 1004 form, a 1073 form or a 1025 form. If the latter is sought, then a 1004MC would not appear to be relevant. I am expert witness qualified in Los Angeles County Superior Court. In addition to the base fee (due in advance) which starts at a minimum of $1,500 for SFR, $2,000 for a condo and $2,500 for a 2 to 4 unit rent controlled property in Los Angeles, I charge $350 an hour for...

Porter Ranch Environmental Issues 5

Environmental Issues Notice to Appraisers

Response to LRES email concerning appraiser’s responsibility regarding environmental issues Fellow Appraisers, Have you asked yourself WHY a few more of the larger regional AMCs are joining organizations like REVAA? In my opinion, it is because they and their clients (usually GSE lenders) KNOW that they are not truly compliant with Dodd-Frank’s C&R requirement. Despite disclaimers or advisories like this, they also know that the bulk of their work products are ‘probably not compliant’ with USPAP. Notices like this don’t normally get set out until ‘after the fact’ issues arise. REVAA recently helped coerce the State of Virginia (through threat...

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