Are 39% of Appraisals wrong??

[Chris Clothier]

The Real Estate Economy Watch published a newsletter this morning and this article caught my attention (as all good headlines will!). 

Are 39% of Appraisals Wrong?

I read the article though and it talks about a few things that I want some clarification on.  Would love for someone in the appraisal or mortgage industry to explain in a little more detail than the article does exactly what a statement like this means:

"A study by a company that analyzes appraisals to reduce lender risk found that 39 percent of more than 300,000 appraisals contained property quality or condition ratings that conflicted with previous ratings of the same property."

They say that these conflicts cause delays, cost over-runs for buyers and lenders alike, but it never says what those conflicts really are.  Anyone want to chime in and explain what is going on here and what the real ramifications are?