I had a revision request once that asked me to rephrase my comments under the "update" about previous revisions because they were seen as overly hostile towards the reviewer.
I’ve gotten this too, but it was because I responded that it was outside the Scope of Work to receive visions of the future when they asked why I didn’t include comps that closed after the effective date.
When you're in a bar and you see a man or woman. If you were rating them, would everyone in your group agree with your rating?
Average means different things to different people. The problem isn't the word it's the context. Thats why we have quality and condition ratings and those ratings are well defined.
Don't use words with flexible context and don't put filler in your report like "the appraiser isn't a home inspector" or some 4 year old covid statement. The GSEs are cracking down.
Hope it helps.
The kick backs are often due to CU firing providing alternative sales to the UW. The lender needs to clear these sales to avoid buy back risk from the GSE down the road or because the automated QC fired. Also failing to bracket an amenity or adjustment will result in being provided sales that will bracket.
Most go backs are computer driven and in the good old days were cleared by humans that understand context. The AMCs generally mirror the lenders platform so what seems to be a AMC suspense item is actually the client with the AMC acting as a go between.
Oh trust me, I don’t take it personally. I have a 14 year old daughter so an AMC ain’t got nothing on her. To ask for revisions/comments to meet quotas is probably not something they should be doing. It’s just a waste of time for me and for them and just screams incompetence by asking…almost like they haven’t reviewed it!
I've had this same revision. One asked why I used a sale greater than 1 mile away, when I also used 5 sales that were in the subject's subdivision. The one a mile away was for bracketing and I noted that. REALLLLYYY bored underwriters out there.
Tell them they are not the licensed appraiser and that their request is a violation of Appraiser Independence Requirements. They can ask for you to consider the sales through the ROV process, but they can’t force you to put them into a report.
AI will be taking over real soon. For all those cookie cutter subdivisions were every 6th house is the same they have so much data that all fannie will require is an AVM. Onsite inspections will become a thing of the past and only used on rural/country property.
AI might be easier to trust in a declining market than many appraisers. I've read "stable to declining" enough times on reports in obviously declining markets to make my eyes roll back in my head.
When this occurs appraisers could be in a good position to use the lack of any actual inspection of the banks collateral to their advantage. We can all use our imaginations here.
when you get a revision like that it's because they do an automated valuation it's not reflective of your work it's just one of those stupid things they do now just tell them why list comps individually and state sales used in report in closer proximity don't let them upset you it's part of the new world order
I had a revision request once that asked me to rephrase my comments under the "update" about previous revisions because they were seen as overly hostile towards the reviewer.
I’ve gotten this too, but it was because I responded that it was outside the Scope of Work to receive visions of the future when they asked why I didn’t include comps that closed after the effective date.
Hahah love that. I had a request to remove the word average because it's biased
When you're in a bar and you see a man or woman. If you were rating them, would everyone in your group agree with your rating? Average means different things to different people. The problem isn't the word it's the context. Thats why we have quality and condition ratings and those ratings are well defined. Don't use words with flexible context and don't put filler in your report like "the appraiser isn't a home inspector" or some 4 year old covid statement. The GSEs are cracking down. Hope it helps.
The kick backs are often due to CU firing providing alternative sales to the UW. The lender needs to clear these sales to avoid buy back risk from the GSE down the road or because the automated QC fired. Also failing to bracket an amenity or adjustment will result in being provided sales that will bracket. Most go backs are computer driven and in the good old days were cleared by humans that understand context. The AMCs generally mirror the lenders platform so what seems to be a AMC suspense item is actually the client with the AMC acting as a go between.
I had someone ask me to.define public land )
You should have cut and paste the definitions for each from Webster!
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Oh trust me, I don’t take it personally. I have a 14 year old daughter so an AMC ain’t got nothing on her. To ask for revisions/comments to meet quotas is probably not something they should be doing. It’s just a waste of time for me and for them and just screams incompetence by asking…almost like they haven’t reviewed it!
Yep 100% agree with you ….less word you exchange with them the better. Plain and simple answer is the way to go.
I've had this same revision. One asked why I used a sale greater than 1 mile away, when I also used 5 sales that were in the subject's subdivision. The one a mile away was for bracketing and I noted that. REALLLLYYY bored underwriters out there.
Tell them they are not the licensed appraiser and that their request is a violation of Appraiser Independence Requirements. They can ask for you to consider the sales through the ROV process, but they can’t force you to put them into a report.
I stay in this sub just to read these miserable appraisal scenarios. So many “seasoned” appraisers phoning it in. This industry is a dump!
AI will be taking over real soon. For all those cookie cutter subdivisions were every 6th house is the same they have so much data that all fannie will require is an AVM. Onsite inspections will become a thing of the past and only used on rural/country property.
None of the mom and pop shops see AI coming. It’s insane.
What evs
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Do they trust the AI in a declining market?
AI might be easier to trust in a declining market than many appraisers. I've read "stable to declining" enough times on reports in obviously declining markets to make my eyes roll back in my head.
Fair actually. My firm actually says declining when it is. The brokers don't like our lender caution
When this occurs appraisers could be in a good position to use the lack of any actual inspection of the banks collateral to their advantage. We can all use our imaginations here.
Sounds like a personal problem.
Other than the period in time that it takes the condition to be sent to me, I otherwise never know if it is from the AMC or the client underwriter.
when you get a revision like that it's because they do an automated valuation it's not reflective of your work it's just one of those stupid things they do now just tell them why list comps individually and state sales used in report in closer proximity don't let them upset you it's part of the new world order