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  #1  
Old 08-22-2007, 02:10 PM
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KKING KKING is offline
 
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Wink Lender Request A Name Change On The Report

LENDER NAME CHANGES ON ALREADY COMPLETED AND TRANSMITTED APPRAISALS ARE NOT ACCEPTABLE, CORRECT.

CAN ANYONE PROVIDE THIS RULE / DOCUMENTATION OR THE LINK WHERE THIS INFORMATION CAN BE OBTAINED.
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Old 08-22-2007, 02:12 PM
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Midwest Guy Midwest Guy is offline
 
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Welcome to the forum!

We go through this issue regularly on this forum! AO 26 says no we cannot do that!

Quote:
Originally Posted by KKING View Post
LENDER NAME CHANGES ON ALREADY COMPLETED AND TRANSMITTED APPRAISALS ARE NOT ACCEPTABLE, CORRECT.

CAN ANYONE PROVIDE THIS RULE / DOCUMENTATION OR THE LINK WHERE THIS INFORMATION CAN BE OBTAINED.
  #3  
Old 08-22-2007, 02:14 PM
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Joker Joker is offline
 
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<sigh>
The DOCUMENTation is USPAP. Have you taken an update course?
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  #4  
Old 08-22-2007, 02:14 PM
Randolph Kinney Randolph Kinney is offline
 
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You only have to read your copy of USPAP to find the "rule".

You can, however, have the new client order an appraisal from you to establish a new client relationship for the same property. You can discount the fee. The new appraisal will have a new effective date for the inspection that you will do and a new signature date. You can reuse the market data or anything that is not lender specific from the old report.
  #5  
Old 08-22-2007, 02:17 PM
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Midwest Guy Midwest Guy is offline
 
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Sorry about some of the other responses!


Quote:
Originally Posted by Joker View Post
<sigh>
The DOCUMENTation is USPAP. Have you taken an update course?
  #6  
Old 08-22-2007, 02:37 PM
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KKING KKING is offline
 
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Thank You Much.

This Is Very Helpful.
  #7  
Old 08-22-2007, 02:38 PM
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KKING KKING is offline
 
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Originally Posted by Jimgraner View Post
Welcome to the forum!

We go through this issue regularly on this forum! AO 26 says no we cannot do that!

THANK YOU.
  #8  
Old 08-22-2007, 02:41 PM
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KKING KKING is offline
 
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Quote:
Originally Posted by Randolph Kinney View Post
You only have to read your copy of USPAP to find the "rule".

You can, however, have the new client order an appraisal from you to establish a new client relationship for the same property. You can discount the fee. The new appraisal will have a new effective date for the inspection that you will do and a new signature date. You can reuse the market data or anything that is not lender specific from the old report.

VERY INFORMATIVE!!

THANK YOU.
  #9  
Old 08-22-2007, 02:46 PM
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Carnivore Carnivore is offline
 
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here wave this in front of them

geez it is never going to end...

Tell us, is this a REAL bank, like a FDIC Bank.

If it is, give me there name. I will call there Compliance department!!

Last edited by Carnivore : 07-13-2008 at 08:42 AM.
  #10  
Old 08-22-2007, 02:49 PM
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Don't apologize on my behalf. I do NOT apologize for expecting a licensed professional to know the minimum requirements. This isn't the newbie section. For crying out loud, someone who passed a state test should know this.
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