The Appraisal Blog

I've been conducting appraisal for the Veterans Administration for about 15 years.  They have a program called Tidewater which allows any parties to a transaction to provide data to the appraiser for consideration in their analysis.  It is a little more complicated than that ... there is a specific procedure and timeline that must be adhered to ... but that is the gist of it.  Federal banking agencies have been looking into allowing for a similar process for conventional loans and the Appraisal Institute has provided their support.

I am all for anything that increases transparency and public trust, and Tidewater, in general is a good process.  My concern is that this will open the door for anyone to submit irrelevant data and, if a change in value is denied, feel justified in filing complaint with the state licensing board.  And this doesn't even speak to the added time it will take to address these issues.

In other words, I fear this will open the floodgates for unsubstantiated complaints against appraiser.

See my previous post about the ROV for additional information here ... 



https://appraisalinstitute.org/advocacy/advocacy-pdf-library/tidewater-initiative