Implausible Rating Discrepancy Messages

This job aid will show how to research one sample message for a specific property characteristic. The same actions and Collateral Underwriter (CU) features shown in this example can also be used to research other property characteristics.

In this example, on the Overview page, you can see messages 483 was issued for the subject. This indicates that the appraiser's condition rating of C1 conflicts with the property age.  A condition rating of C1 applies to newly constructed properties that have previously been unoccupied.

Messages 483 states that, "The condition rating of "C1" conflicts with the reported age." This is an example of implausible data.

Follow these steps to use the CU web-based application to research these messages.

1. From the Appraisal Overview page, select the Comparables tab.
2. Scroll down to the Comparables table which is provided below the map.
3. In the table, locate the "Cond" (condition) column.
   
   
   
4. Use the same table to also locate the "Age" column.
   
   
5. Look for the "S" (subject) in the "Prop" column.
6. Look across each row and review the "Cond" and "Age" for the subject.
7. Contrast that with the ages of each property. The property is 7 years old which isn't consistent with the C1 condition rating.

For a complete list of Uniform Appraisal Dataset (UAD) definitions, see the UAD Appendix D.

Things to consider

The impact to the appraised value should also be considered in terms of both the magnitude and direction of the discrepancy. Think about how the overall credibility of the appraisal is impacted.

To resolve an issue, can the discrepancy be explained or dismissed based on information from the CU web application or other sources? If so, you may be able to provide an explanation in the loan file and dismiss the finding. Otherwise, you may want to contact the appraiser for additional documentation or a correction in the appraisal report.