Bifurcated appraisals-Equals unethical
It's odd to me that this proposal is even being considered. The reputable lenders I work with stipulate that the ONLY person who can inspect the property and complete the report is the assigned appraiser.
Back in the day, disreputable appraisers who are no longer in business due to unethical behavior, jolly well sent out hourly wage workers from 3-4 counties away to "inspect" properties. I had a friend that got an appraiser who sent out an hourly wage worker who did not even enter the property as it is fenced and she was as work. Somehow a complete URAR was submitted. It was a joke. Her lakefront home compared to ocean front homes. A few years later, she lost her home due to exorbitant mortgage payments for which she did not qualify to begin with.
The onus for falling values and foreclosures ALWAYS come back to bite appraisers, which will be the case during the next recession.
Our industry needs to be recognized for the experienced and educated professionals that we are and not allow this dilution of our hard earned reputations.