The Great Gatsby to get the feeling of what writing a great novel is like.
If the valuation analyst receives internally prepared company financial statements and retypes them for side-by-side comparison in the valuation report, he or she is not required to compile those internally prepared company financial statements in accordance with SSARSs.
If the valuation analyst receives historical tax returns and retypes the tax return information for side-by-side comparison in the valuation report, there is no requirement for him or her to report on this retyped tax return information.
The statement said retypes violate the regulations of not only USPAP but those of the above bodies as well.
Potteiger said, "All that's being done by requesting a retype is avoiding the regulatory review that's required in order for the lender to accept the report or to cover up the fact that the borrower ordered the report.
Appraisal Institute member Pete Haginas, MAI, queried: "Why is there a need to retype anyway unless the lender is trying to hide something?
It also expedites retypes
, when a loan officer needs something fixed or changed on the report.