New appraisal guidelines will create a 2-tiered appraisal format

Richard,

So, changes are coming. So far the only guranteed thing I see is that appraisers wold have to spend money (LOL)

Thanks, Richard.

Even though I am not an Appraiser, nor do I give Appraisal Advice, it helps me to stay on top of Appraisal Guidleines, etc.

I will spend some time reviewing this information.   Thanks again.

Interesting how they are always changing our requirements and guidelines and causing more for us to do while we continue to get paid less.

I think most of the changes need to be on the other parts of the mortage process, how loans are presented to the average person or person who does not understand mortgages, or how brokers should be more accurate on their listings and be penalize if they are not.

I keep finding more and more under contract listings that have actually sold, even up to 3 months ago.

Already, I read that very few new appraiser trainees are completing their training & reduced numbers of seasoned appraisers are renewing as they find other ways to make a living.  It's really sad to see appraisers who have put many years into the field forced out because of ill informed people who are running the show.  I'm thinking that with these new guidelines mentioned above, we can put in a glossary page of the terms in each report much faster than we could try to write to different levels of intended user understanding.

I am also thinking that we need to be developing sources of appraisal work that is non lender based, or at least an alternative appraisal product that is not under these guidelines. Lenders use a ton of BPOs & AVMs that appraisers can tap into with a limited scope product that still meets USPAP.  Some lenders are in process of reducing #s of BPOs & AVMs & moving to alternative appraiser products.  I guess we ask ourselves, do we sit hear & starve or could we do better by changing with the times.  If we could put out a reliable product, for what was expected w/i the scope, for $100 that took maybe 2 hrs to do, I'll bet it could help a lot of us.  Think about it.

Excellant soucre (webinar) for insights re: pending changes; I highly recommend.

"Part 1: The New Fannie Mae & Freddie Mac Appraisal Data Program"

http://webb.nmu.edu/Appraiser/Schedule.shtml