No one is ever reprimanded

https://appraisersblogs.com/uncovering-flaws-in-fha-appraisal-n-loan-review-process/#google_vignette

Reality: the lender in the hustle & bustle of being behind on stacks of Files allows the HIT MAN- AMC to “review” request, & demand and where the lender “agrees WITH the demand after-the-fact”. Not saying this is happens 100% of the time & an appraiser would not welcome it 1% of the time.

The EXPERIENCED appraiser IS responsible for data collection due to education, experience and verification.

I have used a deed reference to describe properties this is a great shortcut and you won’t make a transcribing error.

In California the Assessor can’t arbitrary change the record. There has to be notice! It’s very nice to work with the assessor and share info, especially when you miss a measurement (like a 9 for a 6) etc. Courtesy, convenience, and awkwardness become confused from time to time. Gross data isn’t always bad data, practicing appraisers develop skills. When measuring in a large development assessment records can be IN-correct (developers changed plans, two story models incorporated other rooms upstairs, garages, became another bedroom). Lots of stuff happened. In older developments garages were converted, 1200 sf became the same house as the 1600 without a garage. Certain combinations of 12′ and 24′ could be RE-identified as trailer houses.

The EXPERIENCED appraiser IS responsible for data collection due to education, experience and verification.

I have used a deed reference to describe properties this is a great shortcut and you won’t make a transcribing error.

What to do when the septic tank is on an adjacent property, or the fence encroaches, or the drive way needs more frontage to access the garage, or or, or, maybe the owner needs a way to make releases, maybe the excess property is not excess due to set back requirements.

Beautifully stated, and I want to be a contestant on this game show! I’ve perfected my scathing responses to these challenges… I like to point out in detail the reasons their so called “better comps” were not selected by me—-as long as I have to waste my time explaining, and they are willing to “burn the bridge” with a condescending demand…

Not directed at you. Context of the article. I was not aware we had a difference of opinion and who cares if we do? I’m putting too much into this.

Confucius says never jump without knowing where you will land.

Well I do report to the Assessor and they always tell me they apprerciate it. I’m not telling them to change anything just want to point out the difference. Wonder why they call it Legal Description? And that’s why I would not change it to the public record. Never said I was anything other than a boots on the ground appraiser.

Happy Thanksgiving!

Strike the comment.

Baggins,

I always include a copy of the full legal description and plat (if available cause a lot of my areas are old school and have only a legal with metes and bounds). There are a multitude of times were the public record states the wrong site size and this happens in both states I cover. When this happens a reseach of the property for at least two to three decades or more will happen and a call to the state agency to notify them of the discrepancy.

I’m pretty sure if sitting before the Board they will say report the difference and you should go with the legal description and plat (if available) not the public record.

The solution sounds like better disclosure. I’d have included an image copy of both of the learned reporting data points.

Then when these A vs B choice scenarios roll around it’s truly up to the lender how to proceed. By disclosing both data points the appraiser stays covered and stays safe. It’s a coin flip if you get a revision request or not but nobody can really fault you for having selected one or the other. Disclose. Disclaim. The appraisal report is a legal instrument.

The appraiser in this article could have skipped the amc made me do it routine with a more thorough reporting strategy. By including data variance example evidence within the report itself, there can be no question that the appraiser disclosed and disclaimed as appropriate. Approaches like that make a nice workaround to possibly unacceptable assignment conditions.

The agent of the lender client made me report that way is not a valid approach to ‘credible assignment results’. Either the appraiser agrees with what he or she has signed their name to or they should not sign their name. The ethics book already addresses this.

If I had a dollar for every time the next ethics instructor talked about the million situational examples relating to ‘acceptable assignment conditions’. Accepting unacceptable assignment conditions does not relieve the appraiser of any responsibilities, but rather complicates the situation.

Analyzing this specific example is difficult without better context. What was the fnma cu risk analysis score? Was it 1-3, 4, or the dreaded 5? How many errors did the internal EO checker identify? How many manual pass throughs for CU flagged concerns in this specific report did the underwriter have to check off during the review process?

Why does the amc impose reportedly hardline non negotiable reporting standards? Is that an acceptable assignment condition? A complaint to a regulatory agency on this matter may possibly be better served by identifying that the amc may be forcing unacceptable assignment conditions on this point. Somewhere in the FNMA selling guide are clear statements about appraiser reporting flexibility based on the situation at hand.

Get to know the basics of the CU system. Save the image clip I have attached below. I’ve never been in a spot to have to actually send that but sounds like many here have.

Looks like much of the content is now behind a log in wall. Might still be accessible if you fill the data fields though, I don’t know. FAQ’s are still active though, you can at least read through those.

https://www.fanniemae.com/singlefamily/collateral-underwriter

This is within the skills of the practicing appraiser, however it does require additional research and inquiry.

I built a house some years ago overlooking a wash. My subdivision had allowed practiced access to the lower land with a 40′ easement. Uses had changed over the years and the 40′ easement had somewhat re- aligned.

My neighbor and I COULD have equestrian lots when we bought the easement! Horses at the bottom of the hill for my little girls! When I sold the house the description had changed and explanations had to be given, Equestrian lots are worth more!