Borrower name change

[ZZGAMAZZ]

The FHA 1004D follow-up assignment via an AMC includes an additional borrower name. [The few original "Subject To" factors have been resolved.]

I will make note of the additional borrower and submit the report.

However: Should the change of borrows warrant a new assignment?

 

[sputnam]

Does changing the borrower name in the appriasal report change the Scope of Work? Or require a change in the effective date of the appraisal?

 

[J Grant]

The FHA 1004D follow-up assignment via an AMC includes an additional borrower name. [The few original "Subject To" factors have been resolved.]

I will make note of the additional borrower and submit the report.

However: Should the change of borrows warrant a new assignment?

Imo, no it should not warrant a new assignment from the appraiser.

However, imo the AMC should have sent the borrower name change as its own item and not tied in with an FHA 1004 inspection form.

 

[Tom D]

The name of the borrower, be it whatever, has nothing to do with the value of the property. It is in reference to loan purpose, not value purposes. We are not valuing who be the buyers, their affect being zero.

 

[ZZGAMAZZ]

Imo, no it should not warrant a new assignment from the appraiser.

However, imo the AMC should have sent the borrower name change as its own item and not tied in with an FHA 1004 inspection form.

Also possible that AMC jusr overlooked the 2nd name in orig 1004 assignment. And coincidentally this AMC often includes contradictory info depending on which webpage is viewed. ALSO kinda frustrating when assignment includes 2 or 3 purchase agreement attachments with no way to know whether the contracts are different other than to compare line by line.... as my vision declines daily despite 2 eye surgeriess [also unsure why several ACI text boxes seem to be 3 point font. LOL

 

[sputnam]

The name of the borrower, be it whatever, has nothing to do with the value of the property. It is in reference to loan purpose, not value purposes. We are not valuing who be the buyers, their affect being zero.

That is correct. On top of that I will add, that to the best of my recollection, there is nothing in USPAP that requires an appraiser to state the name of the borrower (if there is one) in the appraisal report.

 

[JTip]

FHA follows the property, doesn't matter the name of the borrower.

Not........your...........problem.

 

[Tom4value]

You only need to have a new assignment if the client changes. FHA/HUD is the client. Borrowers are intended users so adding one does not clean a new assignment.