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Can an appraisal be transfered to new client

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Elizabeths, Aug 15, 2007.

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  1. Elizabeths

    Elizabeths New Member

    0
    Aug 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    California
    I feel stupid for asking but I did an appraisal for a client 2 months ago and the lender went out of business. They want to use the appraisal to submit to a new lender. Can I change the name on the report if the old client releases it??? HELP. Loan officer is yelling!
     
  2. Em Tee

    Em Tee Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Nope! New client, new assignment, new fee (you decide what's appropriate), new, new, new. Let the loan officer scream all they want. LOL
     
  3. Midwest Guy

    Midwest Guy Senior Member

    0
    Dec 12, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Missouri
    If he is yelling, give him the :new_321: ! If he wasn't so tight he would buy a new appraisal.

    If you wish, a business decision can be to do a new assignment at a discounted fee. This guy believes you already owe him so collect COD! Today's date, not back then, new inspection.

    You might want to watch your Caller ID for the next few days!



     
  4. Mr Rex

    Mr Rex Elite Member

    202
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Elizabeths, You need to read AO-26, page 208 of the 2006 USPAP. Its that green book all appraisers keep within arms reach at all times and read it over and over until they find the happy ending.
     
  5. Rice Brewer

    Rice Brewer Member

    0
    Dec 14, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Arkansas
    Wait, there is a happy ending?????

    Who knew?
     
  6. Mr Rex

    Mr Rex Elite Member

    202
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    All good books and good dates have a happy ending.
     
  7. Elizabeths

    Elizabeths New Member

    0
    Aug 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    California
    Thanks for the reply!

    Why do so many appraisers do it? I never have and thats why I've been so confused.
     
  8. Joyce Potts

    Joyce Potts Elite Member

    19
    Feb 6, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    There is nothing more frustrating than trying to explain to an MB that there is not such thing as 'assigning' an appraisal and they tell you that every other appraiser does it.
     
  9. Alisa

    Alisa Member

    0
    Jul 18, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    If we believe everything the MB's tell us it would mean there are no
    appraisers doing things correctly.
     
  10. Lobo Fan

    Lobo Fan Elite Member

    0
    Nov 28, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    There are two standard answers from salespeople.

    1. Everybody does it, what is wrong with you?
    2. You are the only one I have ever heard of with that problem.

    Yeah right. To most lenders, appraisers are just another obstacle to overcome.
     
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