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  #1  
Old 02-21-2012, 07:48 PM
john bisanz john bisanz is offline
 
Join Date: Nov 2003
Location: IL
State: Illinois
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Default service performed in the last 3 years?

a few weeks ago i performed an fha appraisal and called out a few items needing repair. i went back a few days ago to re-inspect the repairs and i turned in the completion report. the lender has now emailed me this:


"The addendum attached to this final indicates that the appraiser has not performed any other services on the subject property. If the appraiser did complete the original appraisal report, then per USPAP, that must be noted on the final report. Please remove the invalid comment from the addendum and add the proper comment to the final."


is this correct? is the original appraisal report i did on this property just a few weeks ago considered "a service performed in the last 3 years"?

the comment they are calling "invalid" is the one in my report that states i havent performed any services on the property in the last 3 years. if it matters, this transaction has not closed yet.

thank you for your time and advice
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  #2  
Old 02-21-2012, 08:00 PM
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William Rightsell William Rightsell is offline
 
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Sounds to me like as of the actual effective date of the original report, no services had been performed and the comment is accurate. I would not change it.

If push came to shove I'd offer to put a comment on the Final Inspection form that I had previously appraised the property (and that report is attached); however, as of the original effective date, no prior services had been performed. Furthermore, this comment was added to the report at the express direction of the client.

Not a hill I'd die on...but ridiculous nonetheless.


todd
  #3  
Old 02-21-2012, 08:01 PM
Dan Umstead Dan Umstead is offline
 
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In all their wisdom, the powers that be determined a 1004D was a new assignment and disclosure was necessary.
  #4  
Old 02-21-2012, 09:39 PM
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Wm. Hattaway Wm. Hattaway is offline
 
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Your 1st appraisal is "has not provided a prior service" and the 1004D is "has provided a prior service".
  #5  
Old 02-21-2012, 09:42 PM
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Ca Ar Independent Ca Ar Independent is offline
 
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Quote:
Originally Posted by Wm. Hattaway View Post
Your 1st appraisal is "has not provided a prior service" and the 1004D is "has provided a prior service".
This is getting absurd. Talk about the redundancy department of redundancy.
  #6  
Old 02-22-2012, 02:14 AM
MKBURNETT MKBURNETT is offline
 
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Location: Oceanside, CA
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USPAP yes you must state you did service and yes state the lender is aware of this. Part of 2012 new and changed about statements regarding prior service.
  #7  
Old 02-22-2012, 05:30 AM
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Mike Kennedy Mike Kennedy is offline
 
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CORRECT >http://appraisersforum.com/showpost....15&postcount=5

"Please remove the invalid comment from the addendum and add the proper comment to the final."

No. Do not change the URAR comment addendum which was accurate as of the EDA and the URAR report date.
Yes, report the prior service on the 1004D - second assignment report.
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  #8  
Old 02-22-2012, 06:16 AM
vanguard vanguard is offline
 
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If this is for HUD, I believe the HUD-92051 form is necessary and not the 1004D form.
  #9  
Old 02-22-2012, 06:36 AM
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Mr Rex Mr Rex is offline
 
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Quote:
Originally Posted by vanguard View Post
If this is for HUD, I believe the HUD-92051 form is necessary and not the 1004D form.
Not unless it was a manufactured home.
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  #10  
Old 02-22-2012, 07:28 AM
vanguard vanguard is offline
 
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Mr Rex you may be correct. I have been using the HUD-92051 form and no one has said otherwise.

http://portal.hud.gov/hudportal/docu...=DOC_14653.pdf

Last edited by vanguard : 02-22-2012 at 07:31 AM. Reason: correction
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