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    « Is Cuomo’s Appraisal Fix Destined for Court? | Main | Source of House Data Skews Loan Losses »

    May 09, 2008

    RELS Altering Appraisal Reports?

    FormsI'm a member of the Alabama Independent Fee Appraisers email forum which is a discussion group for Members of The National Association of Independent Fee Appraisers and others.  It was there that I read a surprising report this morning by Dennis Greene, a USDA Rural Development Appraisal Reviewer.  Download RELS_Valuation.png

    Dennis alleges that RELS has begun a practice of altering appraisal reports.

    The following is from the AlabamaIFA Forum:

    As most of you know I am a review appraiser with USDA Rural Development. In the past few weeks I have noticed a change in some appraisals I am getting to review. These appraisal have old material in them and some blank pages added.

    After talking with an appraiser yesterday I found out that RELS Valuation is changing some of your appraisals before they get to me to review. I believe that they are changing most appraisals without your knowledge. They are adding additional comment pages and moving some additional comments. They are adding additional comp pages and additional comp picture pages. Some of the data moved does not match up with what is in the appraisal report.

    Worst of all they are adding the old 1004B Limiting Conditions page and putting the appraisers signature on it.

    At this point I do not know how or when it can be stopped but I will be working on getting to the right people at RELS Valuation and Wells Fargo to get this stopped.

    Your help in this matter will be greatly appreciated.

    I would suggest you monitor your appraisals for final content.

    Dennis R. Greene

    Office: dennis.greene@al.usda.gov 

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