Together with the associated laws, rules, and regulations.
This manual contains answers for more than 100 questions clients, lenders, and AMCs often ask appraisers. Each answer includes the applicable federal or state laws, USPAP references, and Fannie Mae/Freddie Mac Guidelines that supports the appraiser’s response to the question.
Appraisers are often asked tough, strange, or illegal questions. These questions some times come from people with minimal knowledge of the law or appraisal process. Often these people demand answers that places the appraiser at risk. Just because a client demands an answer while “stamping-their-feet” doesn’t mean their demand is legal or necessary for a credible appraisal report. Many clients are inappropriately trying to shift legal responsibility on to the shoulders of the appraiser.
This manual is designed to help the appraiser answer the right way, avoid the risky questions, and – most importantly – recognize when a question goes “to far” and violates the Appraiser Independence Regulations. The goal of this manual is to help appraisers stay out of trouble, produce a Tier 1 appraisal report, and get paid more.