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Old 10-18-2011, 03:52 PM
Ca Ar Independent's Avatar
Ca Ar Independent Ca Ar Independent is offline
 
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Default Mortgage broker ordering appraisal for Genworth ?

Ok..so one of my former clients (pre HVCC) mortgage broker wants to order an appraisal for a "reverse mortgage" to be put "in an AMC's name later". Hmmm. Full fee. Hmmm. What does this mean I ask, and the answer is "it's for Genworth Financial" who told her to order it since "they are going to review anyway". I don't know anything about Genworth but does this sound acceptable or not ? I've had some sketchy versions of the broker ordering the appraisal lately and this makes me nervous (yes, I AM paranoid) . Any advice/experience with this?
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Old 10-18-2011, 05:49 PM
NORTON NORTON is offline
 
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re-addressing is a no no....and Genworth if fully aware of that!
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Old 10-18-2011, 05:51 PM
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Ca Ar Independent Ca Ar Independent is offline
 
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re-addressing is a no no....and Genworth if fully aware of that!
I know, I don't do it...this just sounds sketchy without all of the info up front.
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Old 10-18-2011, 05:55 PM
NORTON NORTON is offline
 
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I know, I don't do it...this just sounds sketchy without all of the info up front.
asking permission or informing u before hand they will be asking u to violate regulation doesn't lessen the potential consequences...send them the regulations regarding re-addressing before hand...and let them know what they (not you) will be up against
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Old 10-18-2011, 06:23 PM
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Ca Ar Independent Ca Ar Independent is offline
 
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asking permission or informing u before hand they will be asking u to violate regulation doesn't lessen the potential consequences...send them the regulations regarding re-addressing before hand...and let them know what they (not you) will be up against
Thanks Norton! I agree. Thanks for clarifying! This broker is "old school" you know, 30 years in the business and all that, and plays dumb regarding regulations, although I KNOW she knows better.
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Old 10-18-2011, 06:53 PM
NORTON NORTON is offline
 
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Thanks Norton! I agree. Thanks for clarifying! This broker is "old school" you know, 30 years in the business and all that, and plays dumb regarding regulations, although I KNOW she knows better.
the bigger question I like to pose them with is, "do they know u know better?" if the answer is yes, then the ball is truly in their court...not yours
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