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  #1  
Old 07-27-2005, 06:11 PM
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Ariba Ariba is offline
 
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Did an appraisal on 06-22-2005, and just got a fax requesting that I change the name of the lender.

Quote:
Dear Ron,

As xxxxx Lending we do business in California and Florida. All other states are done through yyyyy Lending. It was my mistake by ordering the appraisal through xxxxx Lending. Since the property is located in Colorado we need to have the appraisal typed to the name yyyyy Lending.

Thanks you very much Ron for your help

Sincerely
Would you change the name to yyyyy Lending and CYA in the addendum. There always seems to be a twist.

Ron
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Old 07-27-2005, 06:34 PM
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If he had called me back the next day, I'd probably just change it. But since it took over a month to figure out his "innocent mistake" I'd probably give him the old "it's a new assignment" lecture and charge some kind of a fee.
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  #3  
Old 07-27-2005, 06:40 PM
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I agree with Greg. I did one for a client and sent it off yesterday. Got a STIP list today with the change the client name and some other minor stuff - a few my fault for not doing a verification that the distances transfered, etc. Done deal, but that was next day.
  #4  
Old 07-27-2005, 06:51 PM
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I see so much of this that I wonder if it's a new scam that lenders and loan brokers have come up with to get appraisers to readdress an appraisal. Personally, I wouldn't change the client's name at this point.
  #5  
Old 07-27-2005, 06:58 PM
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Since it's the same client who originally ordered the appraisal, isn't this more like changine the intended user or the client's funding source?
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  #6  
Old 07-27-2005, 09:25 PM
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Can't you just put it in the name of who ordered the appraisal?

Geez-We don't even know who our clients are anymore.
  #7  
Old 07-27-2005, 11:34 PM
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Terrel L. Shields Terrel L. Shields is offline
 
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If I have been paid, then tell them to send money, time is money and I have a 4 hr. minimum ($240)
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  #8  
Old 07-27-2005, 11:37 PM
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In my market value would have gone up 3% in 30 days. So, new effective date, new lender, new liability, new appraisal new $400 fee.

Lender shopped the loan in the 30+ days since you did it, and has come with this excuse to get you change report without new fee.
  #9  
Old 07-28-2005, 12:17 AM
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Quote:
Originally posted by Greg Boyd@Jul 27 2005, 04:58 PM
Since it's the same client who originally ordered the appraisal, isn't this more like changine the intended user or the client's funding source?
what if your loan officer changes companies? It's been two days since I sent the report in and I get a call this afternoon that the LO has moved from Lender A to Lender B (or so he says?).

does the loan belong to the loan officer or does it belong to the lender?

Is your client the lender or the loan officer? borrower paid for the appraisal already so the initial fee is not in question.


Bill Baughn
  #10  
Old 07-28-2005, 12:44 AM
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Bill,

Every order I have ever received from a lender has always had the company name and the the loan officer or processor as contact. I would seem to me that your client is the company and not the loan officer. Whose money is being loaned not the loan officer but the company they represent and work for.
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