A trainee inspects a one-unit property on July 8, verifies market data, and drafts major portions of the report while working under a state-certified supervisory appraiser. The supervisory appraiser reviews the work, signs the certification, and discloses the trainee's tasks in the report. If state law permits this arrangement, which statement is most accurate?
Correct Answer
D) The arrangement can be acceptable when the supervisory appraiser signs and acknowledges the assistance
Fannie Mae permits significant professional assistance by a trainee or other unlicensed individual when state law allows it, the supervisory appraiser signs as required, and the report acknowledges the extent of the assistance. The supervisory appraiser remains responsible for the signed appraisal report.
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Previous Question
After a mortgage appraisal is delivered, the lender asks appraiser Priya Shah to issue a corrected copy showing the borrower's full legal name. Priya determines the correction does not affect the problem to be solved or the scope of work. Under current USPAP guidance, which statement is best?
Next Question
A lender's required appraisal form contains a certification that does not clearly address whether the appraiser did or did not make a personal inspection. The appraiser is not allowed to edit the lender's form. What is the proper response?