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Appraisal Line: Managed by R. Alan Pair, SRA

R. Alan Pair, SRA, is Assistant Chief Appraiser for ServiceLink.  In his current role, Alan is responsible for managing the Risk Assessment and Standards Department and the Staff Appraiser Audit Team, as well as,   working closely with the ServiceLink Chief Appraiser and upper management in the development of quality and performance initiatives.

 

Alan has been a Certified Residential Appraiser and FHA Roster Appraiser in the state of Georgia for 25 years, is an SRA member of the Appraisal Institute, and previously served as the Chair of Public Relations and alternate Regional Representative for the Atlanta Chapter. In addition, Alan successfully completed and passed the Litigation and Professional Development program through the Appraisal Institute and is on the Litigation Registry.

 

Alan is a second generation appraiser and holds a BBA in Real Estate from the University of Georgia.  He was a residential field appraiser for more than 25 years and has an extensive background in FNMA/FHLMC repurchase and rebuttal letter writing.

 

Specialties

 

Appraiser Management, Client Relations, Education & Training, Continuing Education Training, GSE Compliance & Rebuttal

Renovation Appraisal Training: February 4, 2016  Approx recording length 30 minutes

On this call, R. Alan Pair, SRA, discussed 7 areas of focus when completing 203k and Conventional renovation appraisals. To follow along with the presentation, click here. To listen to the call, click here.

Toward Better Sketches:  January 31, 2014    Approx recording length 10 minutes

This presentation offers advice on advantages of using high technology in sketching floor plans as a means for reducing errors and oversights, plus some "best practices" for avoiding critical omissions and/or mistakes of completeness and consistency.  Click here to listen.

Capturing Photos:  Jan 30, 2014   Approx recording length 12 minutes

This call makes suggestions to minimize common photo issues to assure the appraiser is taking all the required photos specified by the lender as client conditions, as well as those standard photos required by Fannie Mae and Freddie Mac.   Click here for recording

Disposition Valuations:  September 27, 2013   Approximate recording length 12 minutes

 

This call reminds appraisers to carefully read instructions and understanding the definition of disposition value before beginning the assignment.  Further, this call discusses appropriate strategies for developing a disposition value as well as reminders for reporting the values in compliance with USPAP.  Click here for recording.

Comparable Sales Selection and Market Value:  August 20, 2013   Recording time 14 minutes

 

This call reminds appraisers not to let the purpose of the report drive the selection of comparable sales.  When the appraisal calls for market value, then the appraiser should consider all sales that provide an indication of market value, and even distressed sales may be adjusted upward for market factors if the appraiser has verified the sale to be distressed and can determine an appropriate upward adjustment.     Click here for recording.

Comparable Photos, UAD Errors Revisited and More:  August 16, 2013  Recording time 12 minutes

 

This call reminds appraisers of fatal edit failures for the UAD, reiterates that when performing appraisals subject to completion, that real property tax reported should be estimated, not actual, and finally reminds appraisers of their obligation not to mislead the reader regarding sources of comparable sale pictures.

Click here for recording.

Closets and Taxes:  August 13, 2013   Approximate recording time 7 minutes

 

This call briefly reminds appraisers that closets are not required to count a room as a bedroom, though without them there may be a need for a functional penalty.   On property taxes for proposed construction or homes under construction, the appraiser is to estimate the value as though it was finished on effective date, and likewise, should ESTIMATE what the taxes will be when finished, and indicate in his comments that it is an estimate and how he estimated the taxes.  Reporting the land tax alone is unacceptable since it does not enlighten the lender on the impact of the taxes which will be needed for escrow estimations.  Click here for recording.

Zoning and the Impact on Highest and Best Use:  August 9, 2013  Approx time 12 minutes

 

This call discusses the need to have access to and confirm specific zoning codes (and NOT land use codes from tax assessors) and what each zoning code means in terms of density.  Further, when a code is not specifically residential, the appraiser needs to confirm the actual code permits residential uses or not as the first test of highest and best use.  Appraisers should not reject assignments just because the zoning code does not appear at first to include residential uses, but rather, perform the highest and best use analysis first.  Click here for recording.

Appraising Healthy Markets and Time Adjustments: August 6, 2013  Approx time 10 minutes

 

This call reminds appraisers that as markets improve, the expectation is that positive time adjustments may be necessary and appraisers should test for them.  This call offers tips in testing for time adjustments manually, and reminds appraisers that LSI offers SMART, a free program (free to LSI appraisers) that can analyze the markets for various adjustments, and offers supporting graphs for reports, in addition to performing 1004MC.  See www.smarterappraising.com for additional information or send an inquiry to pmtraining@lsi-lps.com.  Free training support as well.   Click here for recording.

Commentary for Comparables and More:  August 2, 2013  Approximate recording timd 12 minutes

 

This call discusses examples of common areas where appraisers fall short in offering commentary that clarifies the appraisal.  Based upon chronic concerns expressed by clients, this call enumerates many areas where appraisals are found to be lacking, and encourages appraisers to provide more professionally delivered clarity as the objective observer of market conditions in the marketplace.  Click here for recording.

Limiting Your Liability - "Do's and Don'ts":  July 30, 2013  Approximate recording time 10 minutes

 

This call discusses legitimate ways appraisers may limit their liability and warns against adopting unilateral statements that are neither agreed to by clients nor permitted by Fannie Mae and Freddie Mac.  Click here for recording.  

Listings, Pendings, and Sales Verification:  July 26, 2013  Approximate recording time 10 minutes

 

This call reiterates the announcement of June 20 involving policy change regarding the use of listings and pendings in the sales comparison approach.  Listings and pendings will generally be required only when the client has an assignment condition requiring it, (read your assignment instructions) or when the appraiser deems the market to be oversupplied, or in a declining market.  In addition, the call reminds appraisers to supply a verification source for all information that could not be found in normal data sources like public record and MLS.  Click here for recording. 

Condominium Hotels - Research Before Inspection:  July 23, 2013  Recording time 10 minutes

 

Condo-hotels are not always obvious, but GSEs will not buy them and LSI has standing Stop and Call not to proceed of you find "signs" of a condo-hotel.  George Vann shares some insights to conducting simple research online before you proceed to save time eliminating those projects that offer hotel-like services, and when after researching the appraiser still has doubts, recommends a disclosure that it is beyond the scope of work of this assignment to be able to know conclusively such that if the client has concerns, they should investigate it for themselves, and also, if suitable, to invoke an extraordinary assumption  Click here for recording> 

Hypothetical Conditions and Extraordinary Assumptions:  July 19, 2013   Recording time 10 mins

 

This call explains the devices known as hypothetical conditions and extraordinary assumptions and explains which device the appraiser may use for certain situations.  Further, when the decision to use one is made by appraiser during the course of the assignment, it is a good idea to consult the client before unilaterally invoking either of these devices, since to do so is a change in the scope of work and the resulting report may not be acceptable to client.  Finally, lenders should understand that in certain cases, the appraiser may not be qualified to relieve a contingency when an extraordinary assumption was utilized, particularly when the appraiser lacks the requisite training and experience.  Click here for recording.  

Just the Facts, Ma'am:  July 16, 2013   Approximate recording time 12 minutes

 

Professionals know not to vent frustration inside their reports.  This call discusses undesirable and unprofessional reactions to daily frustrations, and offers thoughts on how to communicate with us effectively, and then respond to client concerns professionally, competently and completely.  In addition, as a separate topic, it reminds appraisers that every revision is a new report, so please redate every revision as you sign it and place a memo in the file as to why the revision was necessary.  Click here for recording.

Reconciliations and Final Reconciliations:  July 12, 2013   Approximate recording time 7 minutes

 

This call is a reminder that these two areas in form reporting afford the appraiser an opportunity for clear and concise to offer clear and concise explanations in support of his analysis.  The appraiser's case is made or lost by his ability to explain in the Reconcilation and the Final Reconciliation the essence of the appraiser's analysis and conclusions and why they should be believed.  Click here for recording.

Inconsistencies in Reporting:  July 9, 2013   Approximate recording time 12 minutes

 

This call discusses some of the more common issues with incomplete revisions.  Once a revision is required, most appraisers err by failing to note inconsistencies between revised portion of the report, and other sections that SHOULD be revised.  When making revisions, consider carefully the other sections that may be touched by the revision and review that each section is leading the reader to the same conclusion, telling a consistent story.  Click here for recording.

Non-Conformity Has Its Place and Time:  July 5, 2013    Approximate recording time 8 minutes

 

This call discusses the fact that too many appraisers apparently ignore the meaning of the question "Does the property generally conform to its neighborhood?" found at the bottom of Page 1 of the URAR.  Conformity is defined as conforming to a market, not just the surrounding physical characteristics.  Further, when facing a market wherein there are truly few comparable sales, perhaps it would prepare the reader to know such is the case, given there is little conformity of property in the market, when that situations occur.  Click here for recording. 

Consistency - Consistency - Consistency  July 2, 2013   Approximate recording time 16 minutes

 

This call discusses various sources of inconsistent reports and gives examples of where reports could be enhanced with consistent commentary, that informs and illuminates the nature of the property and the conformity of the subject property to its market.  It editorializes how other professions suffer when there is a lack of collaboration, that working as a team, between appraisers and between the appraiser and the AMC can improve the quality of reports.  Highly recommends appraisers to adopt the LSI Appraisal Template for greater uniformity.   Click here for recording. 

USPAP Tune Up - Part 2:   June 28, 2013   Approximate recording time  9 minutes

 

In this call George Vann points out additional common mistakes of appraisers that fail to comply with USPAP.  Listen in and see if you make any of these common mistakes, and then tune up your practices.  Click here for recording.

USPAP Tune Up - Part 1:  June 25, 2013   Approximate recording time 11 minutes

 

In this call George Vann points out some common failings of appraisers to comply with USPAP in small ways.  This call covers Scope of Work and Highest and Best Use issues.  Click here for recording.

Appraiser Independence- Live Free or Die:  June 21, 2013  Approximate recording time 11 minutes

 

This call reminds and encourages appraisers to help LSI maintain their independence, by following LSI policies to monitor communication between client and appraiser, to refer any direct client communication back to the LSI so as to maintain the "firewall", capture the communication for posterity and prevent intentional or unintentional influence.  Click here for recording. 

Comparable Sale Selection:  June 18, 2013   Approximate recording time 13 minutes

 

What constitutes a good comparable sale?  This call covers in detail the selection of good comparable sales for use in the Sales Comparison Approach.  Click here for recording.

Hard Stops and Fatal Errors:  June 14, 2013  Approximate recording time 13 minutes

 

This call reminds appraisers of Fannie Mae's June 22 deadline which will render certain errors in reporting as "fatal errors" that stop the report from being uploaded until corrected.  While some of these initial stops will be easy, others have been noted as common mistakes, such as borrowing sale descriptors for use with listings.  Click here for recording.

Your Professionalism is Showing:  June 7, 2013   Approximate recording time 13 minutes

 

This call reminds appraisers that they are being judged for their first impressions as well as representing LSI and the client lender while on inspection.  As such, it is advantageous to dress professionally, speak clearly and explain what is being done while on inspection, and not to engage in unnecessary conversation.  Finally, before leaving, run a check list of items needed to ensure no additional inspections will be needed before driving away.  Click here for recording.

Flood Maps & FEMA:  June 4, 2013   Approximate recording time  11 minutes

 

This call describes the FEMA process and how recent revisions to Flood Insurance Rate Maps (FIRMS) may not show on the flood map, where to research them and address these issues.  Knowinig about Letters of Map Changes (LOMCs) is necessary to determine if a subject property is affected.  Click here for recording. 

Market Conditions Analysis: May 31, 2013  Approximate recording time 10 minutes

 

This call discusses the importance of performing a good market analysis as a foundation to presenting the Sales Comparison Approach in a way that tells a consistent story, justifies the existence (or lack thereof) of market or time adjustments, and provides support to the 1004MC.  Further, it urges LSI appraisers to look into adopting the S.M.A.R.T. program for conducting better 1004MC analyses, free to LSI appraisers.  Click here for recording

Highest and Best Use Issues:  May 28, 2013  Approximate recording time 7 minutes

 

This call discusses several types of uses that either do not meet Fannie Mae guidelines or are against client conditions.  Reminding appraisers of the four tests of highest and best use, it gives guidance on avoiding common pitfalls by applying the highest and best use tests to determine if the primary use is really residential in nature.  Click here for recording.

Listings and Pendings in Sales Comparison Approach:  May 24, 2013  Approx 9 minutes

 

This call discusses several issues that are mishandled by appraisers when using listings and pendings in the sales comparison approach and how to correctly use them.   Click here for recording.

ETAs - What We Expect:  May 21, 2013   Approximate recording time 9 minutes

 

This call points out the need for regular and complete updating of file status with the Webcenter.  Updating accurately means clients are getting fresh and dependable status reports which allows for optimum experience in processing efficiencies as well as keeping borrowers updated.  Click here for recording.

Verifying and Adjusting Sales Concessions in Comparables:  May 17, 2013   Approx time 9 minutes

 

This call points out two common misconceptions appraisers use in adjusting for seller concessions in comparable sales.  It emphasizes the correct process quoting the Fannie Mae Selling Guide as well as the Fannie Mae Announcement that first explained this.  Further, appraisers are cautioned to verify the sales data they use, because the nuances of seller concessions and comparable's condition cannot be discerned from only sales data, and appraisers who fail to verify sales data may be held accountable.  Click here for recording.

Alternative Intended Uses:  May 14, 2013   Approximate recording time 9 minutes

 

This call describes that while the forms we use are created for loan origination, they may also be used for assessing the mortgage that is either in foreclosure or anticipating that it might go into foreclosure or "pre-foreclosure" status.  Also, this call mentions a few misconceptions about these alternative valuation uses that the appraisers should avoid.  Click here for recording.

 

Property Rights Appraised:  May 10, 2013   Approximate recording time  9 minutes

 

This call describes several unusual property rights situations that appraisers can face including life estates, subsidized housing and condominium hotels.  In each case, appraisers are encouraged to stop and call LSI to consult with the client.  Click here for recording.

Final Reconciliation:  May 7, 2013  Approximate recording time is 11 minutes

 

This call discusses essential elements to final reconciliations and offers common sense tips to avoiding common mistakes that lead to questions that undermine the credibility of the report and the appraiser.  "Consistency" and "compatibility" are the hallmarks of a good reconciliation.  Click here for recording by guest host R. Alan Pair, SRA

Conventional vs FHA Appraising:  May 3, 2013  Approximate recording time 19 minutes

 

This call discusses how policy changes have brought conventional and FHA appraising closer together and points our the few differences that remain between them.  Click here for recording. 

Service- What is YOUR motto - Communication:  April 30, 2013:  Approximate record 13 minutes

 

This call discusses service and the need to communicate promptly when adjusting client expectations and turn times.  Quality must be appropriately sufficient for the product ordered and if circumstances require it, and original deadlines must be delayed, it is critical that the client receive prompt communication.  Tips are offered to improve communication.  Click here for recording.

Webcenter Optimization - April 26, 2013:  Approximate recording time - 9 minutes

 

This call discusses eLenderSolutions.com and the vital purpose the Webcenter plays in communication from appraiser to the client, via LSI.  There are tips for accepting assignments, updates that provides sufficient information, regularity of updates, monitoring the Appraisers Profile to make certain the appraiser selects the appropriate areas he covers, the appropriate product type, the capacity, and managing the appraiser's calendar.  The Resources tab has LSI templates, special instructions, and other valuable information that help assure you include have the information at hand.  Click here for recording. 

Consistent 1004MCs - April 23, 2013:  Approximate recording time - 15 minutes

 

This call discusses the two most common mistakes made in data collection for the 1004MC market analysis, as well as common issues in the consistent reporting of the 1004MC and neighborhoods in residential reports.  The call challenges appraisers to be certain systems they may employ allow them to define the geographic and physical features that compete with the subject property, and recommends S.M.A.R.T.  Click here for recording. 

Sales and Listing Histories - April 19, 2013:  Approximate recording time - 11 minutes

 

This call discusses the need to analyze the sales and listing histories in a consistent manner that considers the contract, the current listing history, the three year history of subject, and the one year history of comparable sales and how they impact the market value.  This consistent analysis should be revealed in the Contract section, the Neighborhood Analysis - One Unit Housing Trend, the two questions at the top of the Sales Comparison Approach and the Reconciliation of the Sales Comparison Approach.  Click here for recording.

Commentary vs. Gobbledygook - April 16, 2013:  Approximate recording time - 12 minutes

 

This call discusses the essential need of effectively communicating reports in clear and concise terms.  It recounts the traits of appraisers who fall short of effective communication and provides steps to counter this adverse trend, with the goal of an indisputable appraisal.  Listen to this to make sure you are not using bad habits, and/or to adopt corrective measures.  Click here for recording.  

Matching, Bracketing, and then what - April 12, 2013:  Approximate recording time - 11 minutes

 

This call discusses the tactic of "benchmarking" adjustments that have unique property features or locations, to derive support for adjustments where there are no sales with which to bracket or match the feature. In addition, when bracketing is possible, the bracketing technique allows the appraiser to test for the appropriate market-based adjustment, and thus proving the appropriateness of the adjustment.  Click here for recording.  

Gross Living Area - April 9, 2013:  Approximate Recording time - 9 minutes

 

This call discusses the difference between gross living area and gross building area, and common mistakes made by appraisers in their analyses and in their reporting.  It reminds appraisers that Fannie Mae requires that when information is incomplete about comparable sales, Fannie Mae requires the appraiser to estimate the footage and explain the basis for the estimation. Appraisers should make sure they estimate or measure the GLA the same way for comparable sales as they do for subject property.  Click here for recording.

USPAP "Avoidables" - April 5, 2013:  Approximate Recording time - 12 minutes

 

Hosted by Chief Appraiser Danny Wiley, SRA, FRICS, this call discusses common but easily avoided mistakes in appraisal reporting including need to analyze prior sales, the need to reconcile both sales comparison approach as well as final reconciliation, the need to store all true copies, and the need to avoid using "boilerplate" or canned phrases that may be contradictory.  Click here for recording.

Supporting Age Adjustments - April 2, 2013:  Approximate Recording time - 13 minutes

 

This call discusses the difference between actual age and effective age, the need to explain the difference and what factors support the opinion of effective age.  Further, it reminds appraisers briefly how to extract a market based adjustment for age from comparable sales, and finally, recommends appraisers to review their report prior to submission to capture and correct issues of inconsistent reporting, which includes effective age.  Click here for recording.

UAD "Toe-Stumpers" - March 29, 2013:  Approximate Recording time - 12 minutes

 

This call provides guidance to appraisers for common mistakes in UAD formatting in the area of Condo Unit numbers, Energy Efficient items, and in Listings provided in sales grid.  In addition, the call points out critical changes in UCDP policy coming beginning in June wherein certain data entries will be upgraded from "warnings" to "fatal edits", requiring appraiser correction before the uploading of the report. Click here for recording.

Excess Land, Surplus Land and the Impact on Appraisals - March 26, 2013: Recording - 10 mins.

 

This call defines excess land and surplus land and describes scenarios in which each may occur.  It reminds appraisers that they are treated differently, and, for excess land, because they may impact the appropriate scope of work, the appraiser is advised to consult with client as to the potentiality of a second highest and best use, which may or may not be appropriately reported in a single report format. Click here for recording.

 

Data and Verification Source Citations - March 22, 2013:  Approximate recording time - 12 minutes

 

This call reminds appraisers to focus on providing complete data and verification source information supporting comparable sales as omission of relevant citations can cause appraisal to be rejected as unsupported.  It reminds appraisers in non-disclosure states of the extra burden of verification which they must assume. Dual data sources may be acceptable assuming the data is complete, and the two sources are in substantial agreement.  It also provides USPAP reminders that appraisers capture transitory online data into their file and the requirement that the information contained within the report must be sufficient for the intended user to understand the scope of work performed. Click here for recording.

Neighborhoods - March 19, 2013;  Approximate recording time - 11 minutes

 

This call provides the definition of a neighborhood and discusses common misapplications of the definition found in appraisal reports.  It further discusses how one should decide the boundaries of the neighborhood, what should be in the description, and elements of market conditions that should be discussed.  Click here for recording.

Supplemental Comments in Addenda - March 15, 2013:  Approximate recording time - 9 minutes

 

This call discusses permitted and appropriate comments vs. inappropriate and non-permitted comments that are often found made in the addenda by appraisers.  The non-permitted comments are explained why they contradict other required sections of the report.  Click here for recording.

Sales and Listing History - March 12, 2013:  Approximate recording time - 8 minutes

 

This call discusses the appropriate level of reporting for sales and listing history in performing Fannie Mae and Freddie Mac reports.  Further, it describes the elements to be analyzed, and the expectations of the intended users in reporting the analysis.  Click here for recording.

Appraisal Updates - March 8, 2013:  Approximate recording time - 7 minutes

 

This discussion suggests that appraisers should provide more analysis in support of their conclusion, when performing an appraisal update on the 1004D.  The minimum response will require augmentation of the form itself to provide USPAP minimally responsive analyses.  Click here for recording.

Handling Incorrect Orders - March 1, 2013:   approximate recording time  - 10 minutes

 

The discussion focuses the correct handling of incorrectly placed orders.  Appraisers should always communicate with the client via LSI on Scope of Work changes so as to produce credible assignment results.  Communication is key.   Click here for recording.

Address Issues - February 26, 2013:  approximate recording time - 15 minutes

 

The discussion revolves around correctly giving addresses for subject and comparable sales that are the physical addresses for the property, given in United States Post Office approved format.  Click here for recording.

Site Valuation - February 15, 2013: approximate recording time - 8 minutes

 

This call discusses lender requirements regarding site valuation and suggestions on how to address in your report. Listen to this call to hear more. Click here for recording.

Planned Unit Developments - February 12, 2013: approximate recording time - 11 minutes

 

This call discusses additional photo inquiries and suggestions on how to address them in your report. Listen to this call to hear more. Click here for recording.

Architectural Style - February 8, 2013: approximate recording time - 15 minutes

 

This call discusses the UAD requirement of reporting on the specific design style of architecture. Listen to this call to hear more. Click here for recording.

Sketching Issues - February 5, 2013: approximate recording time-11 minutes

 

This call discusses common challenges in sketching and offers tips on how to match sketch to form and photos. Listen to this call to hear more. Click here for recording.

 

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