While appraisers have a lot to gripe about in the less than perfect appraisal process, appraisal review is often one of the biggest stress points between the appraiser and client. Coercion, poor practices and just plan appraisal ignorance all can play a role in making the appraiser’s work more stressful. We asked our panel of excellent appraisers how they deal with this potential pitfall.

Valuation Review: What are the most common stress points in the appraisal review process?

“The majority of complaints are from borrowers, and second most are from AMCs. The complaints range from failing to fill in a check box in a Fannie Mae form to accusations based on strange misinterpretations of USPAP by state subcontract review appraisers, prosecutors, and AMC reviewers,” explained Roger Durkin, chair of the American Society of Appraisers (ASA) and an attorney for appraisers who defends appraisers before the licensing board. “USPAP interpretation is a serious issue. Did you know that a sanction by the licensing board that you violated USPAP may be used as relevant and admissible evidence in a civil negligence law suit? My wish is that review appraisers recognize that their policing actions can have a serious impact on appraisers. I would add that review is or should be an objective professional critique measured against clearly delineated standards (USPAP) should include a critique of the logic or logical fallacies, and finally a critique of the credibility of the appraiser.”