Reviewers – Friend or Foe?

Appraisal review requests originate from a fairly wide variety of sources including lenders, mortgage insurance companies, law firms, GSEs, the federal government, consumers, and more.

In addition to being retained to review appraisals for the aforementioned sources, appraisers are also routinely engaged in reviewing the reviews of other reviewers.  While the diversity of the sources of review work is wide, a common theme needs to be reflected in all reviews and that is impartiality, fairness, and support for the reviewer’s opinion.

Too often we see reviewers incorporating emotion, accusation, and on occasion the appearance of an agenda.  Appraisers are under the spotlight more than ever, and adherence to USPAP and all other industry guidelines is never negotiable. However, to be a good reviewer, one must approach each assignment with a balanced perspective.  An appraiser, retained and acting in the capacity of an appraiser, cannot be an advocate for a client, but is always an advocate for their own work.