40 acres

[Pamela Crowley (Florida)]

My bottom line is this: What does the intended user who is going to rely on the report for a lending decision expect me to report?

Qualification: The real intended user here is actually the real LENDER that is writing the check to borrower for this mortgage loan - NOT the borrower nor the loan officer or mortgage broker.

If it were your own money you were thinking about loaning to the borrower on this and you do not loan money on properties being used for agriculture, would it be OK with you if you had the fact that the property is being used for agriculture was hidden from you? If you had an appraisal that you used to loan your money on this and found out the appraiser did not tell the truth, do you think you might have good reason to file suit against that appraiser?

 

[Pamela Crowley (Florida)]

Thanks for your input! I appreciate it. I told my client that it is a farm and that there was sign that it was farmed last year, and there is a pole shed with a tractor and corn planter in in it. He went off on me for a while how this will ruin his deal and that he had been working on this one for 2 months now and that they (the borrowers) are good friends of his and they got hit buy a tornado 2 years ago, and that the lady was in tears.....so I just told him I would lie on the appraisal for him. Just Kidding of course. I told him I will walk away from the asignment and refund the home owners money. I don't want anything to do with what he is trying to have me do on this deal!!!

Thank you!!!!!

Would you please go to www.MortgageFraudWatchList.org to file a report on this, please. Just the facts so that others will know it's being used for agriculture and this mortgage broker cannot get away with this.

 

[Mike Kennedy]

Thanks for your input! I appreciate it. I told my client that it is a farm and that there was sign that it was farmed last year, and there is a pole shed with a tractor and corn planter in in it. He went off on me for a while how this will ruin his deal and that he had been working on this one for 2 months now and that they (the borrowers) are good friends of his and they got hit buy a tornado 2 years ago, and that the lady was in tears.....so I just told him I would lie on the appraisal for him. Just Kidding of course. I told him I will walk away from the asignment and refund the home owners money. I don't want anything to do with what he is trying to have me do on this deal!!![/quote]


We all know the feeling, hurts the wallet, but, nothing can replace your Integrity........and..........ONE deal does not a Career make. Wise Decision!

 

[Jeff Horton]

Different ways of looking at this and I have done exactly what you did. Just walked, and I am sure I will do it again in my career. But I have adopted a new rule the past few years. If I am asked to do an appraisal, I do the appraisal and just report what is there. It is what it is and I expect to be paid too.

Now with that said, I did call a excellent client today to tip him off to a problem with one but I still completed it and will be paid.

 

[RSW]

Sometimes it is better to just let things go and move onto the next assignment. I would rather decline an order than to make my client mad. Let some Skippy screw up the deal.

 

[hastalavista]

I told him I will walk away from the asignment and refund the home owners money. I don't want anything to do with what he is trying to have me do on this deal!!!

Some may argue about refunding the money (and their argument has merit). I won't. I would have done the same thing.

 

[truk1]

Joel,

With your conscious intact, I assure you that work will continue to come your way. Plus, you sleep a whole lot better at night knowing you haven't done anything unethical.

 

[aussie ken]

Way to go Joel.......dignity and integrity will always out last the quick buck.

 

[Midwest Guy]

Deleted. Sorry

 

[Mr Rex]

You could have had a heart to heart with the owner and told her to survey out the house and a few acres, and get a residential mortgage on that, and protect the family farm land from unscrupulous MBs. :icon_idea: