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Digital Signature Addendum?

Discussion in 'Urgent - Help Needed' started by zpbkitten, Mar 22, 2004.

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  1. zpbkitten

    zpbkitten New Member

    0
    Nov 20, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    I have a client asking for a Digital Signature Addendum...does anyone have the verbage i can use to make this up? Thanks!
     
  2. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    41
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    This is what I use; note that it is the lender's responsibility to warrant that the report they are sending to Fannie Mae is the report that they received from me without any alterations:

    DIGITAL SIGNATURE:
    The software programs used to transfer the report electronically to the client provide digital signature security features for the appraiser signing the report. In the process of transferring the report to the client, the appraiser that has signed (affixed an electronic signature) to this report has ensured that the signature was protected and the appraiser maintained control of the signature. Electronically affixing a signature to a report carries the same level of authenticity and responsibility as an original ink signature on a paper copy report. Per Fannie Mae guidelines in Section 203, a lender may accept an appraisal report that is transmitted electronically. The lender is to represent and warrant to Fannie Mae that the appraisal report was created by the appraiser identified on the appraisal report and that the appraisal report is the complete and unaltered report submitted by the identified appraiser.
     
  3. zpbkitten

    zpbkitten New Member

    0
    Nov 20, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    Thank you so much Jo Ann. I just emailed it...hope it is what they are looking for.
     
  4. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    Sherry:

    It is quite likely that the lender is operating off old information... a not uncommon occurance. <_<

    Prior to industry wide acceptance of digital signatures, there was specific guideance on this matter... is now retired. :leeann: ...

    I always reccomend asking the cleint contact specifically what it is that they expect to see. Clarifies whether THEY are idiots or if perhaps you need to modify your reporting for any reason.

    The key point to MY way of thinking is Jo Ann's final sentence: which places the onus on the lender and all conduits to that lender to provide evidence that the report is untainted.
     
  5. James Saxton

    James Saxton New Member

    0
    Mar 23, 2004
    i usually put this somewhere in the report:

    This report was signed by means of a password-protected digital signature. No one other than the signing appraiser can alter this report.
     
  6. CANative

    CANative Elite Member

    268
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Lee Ann... something's going on because we've just recently begun to get hammered for digital signature addendae.

    In the past (up until about a month ago) we'd get a couple a year (mostly from Chase Manhattan) For the last month there have been at least 10. I guess I'll start including some verbage similar to Jo Ann's from now on.

    Maybe they're suddenly trying to avoid liability for fraudulent, manipulated or altered reports (or more likely, trainees with offsite/distant mentors.)
     
  7. Steve Wyrick

    Steve Wyrick Member

    0
    Aug 15, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    James - welcome to the forum.

    I use virtually the same wording, right in the Transmittal Letter, first page they see when they open my report, after the invoice. Had one call a couple of years ago, asked the caller if they read the report, they said of yes indignantly, then I asked did you read all the report, yes, did you read the first page the transmittal letter again yes very indignant at this point. Asked do you have the report in front of you, Yes I told you I read the report. Would you read the last sentence in the last paragraph, bolded and italized above my signature. He did and about 1/2 through it got very embarrassed after apologizing all over himself, I said no problem anything else I can help you with if not please call anytime. Oh, he was the vice-president in charge of appraisals for the company, makes you wonder sometimes.

    James there is no such animal as a stupid newbie, find a better Avatar. There are only inexperienced newbies who are asking question to learn.

    There is an old saying "There is no such thing as a dumb question" that is very true, unfortunately in order to ask a dumb question a person must have a little bit of knowledge to even understand that there is a question to ask. That is what a newbie is someone who is learning just enough to ask a dumb question, but once they have that answer they are no longer dumb in that area and now have information to ask the next dumb question, it is called learning.
     
  8. James Saxton

    James Saxton New Member

    0
    Mar 23, 2004
    Thanks Steve :) ..........i've occasionally had to put the digital signature statement in bold type, since it tends to get glanced over............the avatar is just a joke........i actually think pretty highly of myself..........it's just my little way of trying to keep myself humble..........there's a lot of knowledgeable people here........and i need the avatar as a reminder that i should do more reading and less typing :lol:
     
  9. Chris Colston

    Chris Colston Elite Member

    0
    Jul 24, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I place a statement in a supplemental addendum that covers digital photos, teh "Save Our Homes" Amendment (in Florida) and digital signatures. The paragraph on signatures reads as follows:

     
  10. xm39hnu

    xm39hnu Senior Member

    0
    Jul 10, 2003
    Professional Status:
    General Public
    State:
    Florida
    Chris,
    You may want to change the last line of your quoted text, if it's what you put into your reports. As reads, "..the report may have been alerted..." and I think you mean "..the report may have been altered.."

    Now, I'm not trying to be the language police here. Just trying to assure that lawyers have less of your butt to chew on.
     
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