1004D request from 2nd lender (conventional)

[Surf Cat]

you cannot change client on the original appraisal, but a 1004d for condition/repair request, not an update of value request, is not an appraisal. you can have a different lender/client requesting it, a monkey can do it. 1004d can have different clients, but 1004d value update requires an appraiser but still can be a different client, new assignment. it happens a lot with reverse mortgages where the owner is given a year to do repairs, and by then it's the servicing company asking for it. the term 'appraisal' was redefined years ago by USPAP, it is only applied to anything that requires any value number, or a description of any number/numbers.

Yes, a monkey can do it....but the top of the form which is filled out for either an appraisal update or certification of completion, requires the value of the original report.... this is divulging confidential information from client A to client B.

I suppose you can try to do a scoot around by leaving that blank also, I'm uncertain if the effective date of the original appraisal is confidential information. Someone else has to chime in on that one...

 

[shrubberyvaluation]

Yes, a monkey can do it....but the top of the form which is filled out for either an appraisal update or certification of completion, requires the value of the original report.... this is divulging confidential information from client A to client B.

I suppose you can try to do a scoot around by leaving that blank also, I'm uncertain if the effective date of the original appraisal is confidential information. Someone else has to chime in on that one...

Effective date is not an assignment result, so it would depend if the client specifically stated it to be confidential.

 

[Surf Cat]

Oh man.....my laughing emoji didn't show up after "leaving that blank" please insert Lol...

 

[Tom D]

part b of which is the completion only part has to do with done, or not done, items. the cost to finish items has nothing to do with the value in that section. however, if you comment on the value changing because of, that is an appraisal per USPAP definition. you changed, or developed new, a value $ number. i have never seen that asked, that why they escrow money, to get it done.

 

[Tom D]

I suppose you can try to do a scoot around by leaving that blank also, I'm uncertain if the effective date of the original appraisal is confidential information. Someone else has to chime in on that one...

the people asking for a new 1004d obviously have the old appraisal, and/or are the owner's, or servicers, of that loan. in which case, i don't think anything you have on the report is confidential.
don't do it, actually anybody can do it, they just send it out to another person with a copy of the original appraisal, if needed. but as i said earlier, it depends on your relationship with the client.

 

[Surf Cat]

USPAP
Fannie Mea guidelines
Lender specific guidelines
14 page AMC engagement letters.....

Sheesh....it's a wonder any appraisal gets done without being thrown under the bus...