Lakefront Appraiser could not be happier about one of the outcomes from the entire mortgage lending crack down. Mortgage Underwriters are taking seriously one portion of USPAP (uniform standards of professional appraisal practice) which requires that appraisers must be competent in their FIELD or Location, in order to complete the appraisal assignment (or they must obtain the assistance of someone who is competent). Hallelujah! I want to congratulate that underwriter publically! More of this kind of underwriting WILL occur it is a certainty.
I just received a call today from an Appraiser in South Georgia who referred me to a lender who's underwriter rejected an appraisal because the appraiser did not have the experience in that area. The Appraisal Company's owner, unfortunately just signed off on it after the fact and said, okay now you have the experience you need! Well that Appraisal Company has now been YANKED from that lenders approved appraiser list. Live and Learn!
Proper experience is the backbone or foundation of this site. We wanted to put together a site where lenders, buyers, sellers and Realtors can readily find appraisers that have lake and waterfront experience! This is a huge investment for all concerned, so it is crucial that you utilize the services of a Lake Appraiser.