Reducing costs and time by utilizing the departure provision
of USPAP, which in specific circumstances allows for limited appraisal
First, on March 22, 1994, the ASB adopted significant revisions to the Departure Provision, Definitions Section, Standard 2 and Standard 3 of USPAP and issued Statement No.
Also, the agencies reduced the number of supervisory appraisal standards from 14 to 5 and allowed the use of the Departure Provision in USPAP for federally related transactions.
In other words, the fact that an appraiser invokes the Departure Provision and does fewer approaches to value is what lowers the reliability of a Limited Appraisal versus a Complete Appraisal, not that the appraisal is communicated [TABULAR DATA FOR TABLE 1 OMITTED] in a Summary Report instead of a Self-Contained Report.
It reinstates the Departure Provision
that allows an appraiser to prepare an appraisal without complying with certain provisions of the Uniform Standards of Professional Appraisal Practice (USPAP), provided the appraisal report is not misleading.
136) A sentence outside the Guidelines range, whether it be based on a departure provision or a [section] 3553(a) analysis, does not require "extraordinary circumstances.
141) Since the policy statements are part of the Guidelines, most circuit courts recognized these departure provisions as part of the Guidelines analysis.
For the sake of simplicity, we will examine these factors under their original departure provisions, but note that they can also be considered when granting a variance in sentencing under [section] 3553(a), as opposed to a departure.
1 departure provision
in light of expanded judicial discretion.
The Departure Provision permits limited exceptions to USPAP.
Although the appraiser is not expected to be an expert in FHA requirements, under the competency and departure provisions of USPAE the appraiser has a duty to possess a "certain level" of knowledge regarding FHA and its effect on value.
Brendsel's employment agreement and advised Freddie Mac that the provisions of this agreement, including the departure provisions
, are well within the range of current market practice and comparable to arrangements for senior officers at other major financial institutions.