Appraiser Communicated Appraised Value to Seller

[Pamela Crowley (Florida)]

At the LEAST, repor this at www.MortgageFraudWatchList.org

 

[Ray Miller]

I would drop it and let the others fight it out. Time is to shot and there will be other fights you can enter.

 

[PropertyEconomics]

I don't really have a dog in the fight other than my ego! :blush:

Egos can certainly get in the way of common sense.

 

[CURT VAN HOOSER]

You're done...move on. Three appraisals for the same property? What to hell? So, did they just keep going until they hit the number they were looking for? Was yours the first or the second? How did you get copies of the other appraisals? Does anyone know of any appraiser who had his/her hand slapped for communicating their opinion of value to the person paying for that opinion prior to that person receiving their copy from the intended user?

 

[Webbed Feet]

I don't really have a dog in the fight other than my ego! :blush:


Yeah, I've slept on it and decided to let it go. In all fairness to the third appraiser, she really had no idea what she was walking into. And unless you're one of us who posts or lurks here everyday, you may be a little rusty on your USPAP when a seller drags you into a scanario like this one.

Ms. Swain,

I have no idea how you obtained all this information plus copies of the other reports. But it seems you have. But I too have to protest what I bolded in your post to you. She is licensed. Her duty is to understand what she is walking into. For a licensed appraiser there is no such thing as being "rusty" about USPAP. Especially if that is a USPAP mandatory State.

More than this, it is apparent to me that it was not the lender / client that selected and engaged the appraiser, it was the seller. And the appraiser participated in covering that up. In fact, it sounds to me like the appraiser completed an assignment for the seller, the seller found out the results were 450K something, and then the appraiser cloned that report with the mortgage brokers name on it at the request of the seller. THAT is a big fat violation if a federally backed loan is involved, and misleading under USPAP.

In short, things not only don't sound right, they sound terrible. I do not agree with the "move on" crowd here at all.

Webbed.

 

[CURT VAN HOOSER]

Daffy,

You make a good point, assuming your speculation is correct...

 

[Webbed Feet]

Mr. Van Hooser,

Agreed. I am speculating. Ms. Swain is correct, things don't sound right at all. What the do nothing crowd is not responding to is if the $450K something appraisal is a POS, it damages the reputations of Ms. Swain and the second appraiser with the participants involved at the least.

Webbed.

 

[CURT VAN HOOSER]

Conceded... I am still curious how the lender would benefit from giving Ms. Swain a copy of the third appraisal?