1. Forum] Proposed USPAP Change
It just dawned on me that WE need to get USPAP changed so our Clients
can be happy or at least those in Loan Originations. If we can make
them happy and limit our own liabilities, it would be a good thing.
This though comes after USPAP SOW was changed, but many licensees have
not found how to use it to their advantage. We can do as little or as
much as is Agreed to. An Agreement rould be required, in writing. They
need to sign that they Agree to a limited scope appraisal, and to the
definitions, standards of care, processes and procedures to be used.
This part is easy.
The hard part is getting USPAP changed, which can be done but required
action on Our part. We can change USPAP but it will take massive action.
What If some new Definitions were added and some Limiting Conditions
were added that would protect us? What if the Market Demand is for fast
and cheap and we could provide some protection for ourselves from down
stream liabilities {Cert. 23}?
We could add the definition of Sales Price Value, Fair Value, Fair
Market Value and Financed Value. Once that was done, all we need is to
get the Forms changed to include Check Boxes for these two items. The
definitions are the easy part, getting the Forms changed would be the
hard part. Well not really, we could simply ask the Forms Vendors to add
a new one as an Option that we could use as appropriate.
Next, we add a section on Business Exceptions Rules. It would allow the
client to dictate speed of delivery and fee for services at an agreed
upon hourly rate. If they want us to do what we can and only pay for
one hour, we can agree on that. Or whatever else we might mutually think
to do. The goal is to make them happy and to limit our liabilities.
It is in this area that I need help. What can you guys think of that
would need to be added here as sections or headings that would provide
additional protection from our circumventing, or being forced to do so,
the good appraisal procedures that USPAP directs us to use?
We can do this? Who would oppose it? The Clients would be happy and we
would be free. We could work fast and cheap and not have fears knawing
at us that we might get sued later, or worse, that our E&O might not
cover us if we violated USPAP, or more worse than that, the suit might
be Criminal and we would be on our own, no insurance covers that.
2.
Good grief, will we ever get over this krap! We are so hung up on "words" and "political correctness" and spend so much time worrying about what someone said & wringing our little hands about did that "word" offend me that we miss the BIG PICTURE
Everyone better wake up to the fact, and wake up quickly, that: OUR PROFESSION IS DYING!!!!!!!
!!!!!
We are being killed - no ifs, ands or............. oh no!!! Wait a minute here............I can't use the word that begins with "b", with a "u" in the middle and has a single "t" on the end, cause someone may "think" I'm referring to the word that starts with "b" and has a double "t" on the end that also means your "derrière" Oh my gosh, someone might be offended by that!!!!!!!!! Oh gosh, that's it, we can't use that word any more - make note of it everyone!!
There is a vast difference between the perverse and constant use of innuendos and the single use of a word. Let's get on with the big picture issues!
John C. Carlson
Diamond Bar, CA
