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Another Whacko Arvest Assignment

Discussion in 'Arkansas' started by Terrel L. Shields, Sep 21, 2009.

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  1. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    Top Poster Of the Month

    May 2, 2002
    Professional Status:
    Certified General Appraiser
    same group ... new deal. Seems they asked that I make the report out to both the bank and the borrower...so he could use the report for estate purposes.... and a retrospective date. Say what? I said, check your UW and see if you can accept such a report. I don't think bank rules allow there to be dual clients.

    Then they started out with 6 lots...I asked them to specify the lots since they were NOT in the borrowers name but in a Rev Trust (Mom?).. Then they said, no, don't do Lot x...OK that's 4 res lots and 1 comm lot.

    Then they said, No. sent same plat over and scratched out all but 1 lot. then the LO comes back and said just do the appraisal for the borrower for the estate (the 2 commercial lots). So I had to get a letter from him...and so my 6 lot assignment evaporates from the bank and morphs into 2 lot appraisal...say what?
  2. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    Somebody (or a few) at Arvest don't know what they are doing and need some education. The Arvest Compliance Department should be informed of this mess.
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