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"Client's" address changed - just their address

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DKAYTES

Thread Starter
Junior Member
Joined
Jun 4, 2007
Professional Status
Certified Residential Appraiser
State
New Jersey
Background : Did an appraisal (FHA) for a client which needed repairs to be done to be FHA compliant. Did the compliance inspection 2 days ago, sent in the 92051 compliance report in the next day with all of the repairs completed. I get a request today from the client to change the physical address of the client because they moved ( NOT THE CLIENT- That remains the same) on the compliance report. AO26 addresses the issue of changing the client not their physical address - I don't see a problem with this request since it is the same lender/client when the assignment was given.

Would you put something in the text addendum with something along the line " the appraiser has received a request of the client of the client's new address ...... " ? I think they will come back and ask me to change it on the original report as well.... if not ( the investor or FHA ) might question the different physical addresses of the client later on. Just a little CYA...
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
I'd probably add a narrative to state that the addy change on the supplimental compliance report/form made at cleint request based on a request received by the aprpaiser on XX date (brief explain why), change the addy, STATE that the analysis and report conclusions are exactly the same as the ORIGINAL form on which there was signature date of __-__2008, which was submitted X many days before.... and PUT A NEW SIGNATURE date on the (other-wise) same form...

Same goes for the original report should they make THAT request later...:leeann: and yes they very well may do that...:shrug:


In these days I think it behooves us to also CLEARLY explain why there may be two reports running around with similar information.:icon_idea:
 

DKAYTES

Thread Starter
Junior Member
Joined
Jun 4, 2007
Professional Status
Certified Residential Appraiser
State
New Jersey
I'd probably add a narrative to state that the addy change on the supplimental compliance report/form made at cleint request based on a request received by the aprpaiser on XX date (brief explain why), change the addy, STATE that the analysis and report conclusions are exactly the same as the ORIGINAL form on which there was signature date of __-__2008, which was submitted X many days before.... and PUT A NEW SIGNATURE date on the (other-wise) same form...

Same goes for the original report should they make THAT request later...:leeann: and yes they very well may do that...:shrug:


In these days I think it behooves us to also CLEARLY explain why there may be two reports running around with similar information.:icon_idea:


Lee Ann... That is pretty much what I did... A this point I was asked to change the Compliance Report Not the original report. At the end of the report prior to the photo pages I added a comment in a text addendum which says...

On November 13, 2008 the appraiser has received a request from the client of the client's new physical address. According to the client has moved to their new physical address after the assignment was assigned to the appraiser. The address of the client has been changed at the request of the client. from : ABC Mortgage 123 Main Street Anytown USA 12345 to: ABC Mortgage 789 Market Street Road Anytown USA 12345

I think that should be clear enough.... the real import thing here that is discussed in USPAP is the client has not changed. I saved both versions that went out to the client... the original with the old street address and a new version with their new address.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Lee Ann... That is pretty much what I did... A this point I was asked to change the Compliance Report Not the original report. At the end of the report prior to the photo pages I added a comment in a text addendum which says...

On November 13, 2008 the appraiser has received a request from the client of the client's new physical address. According to the client has moved to their new physical address after the assignment was assigned to the appraiser. The address of the client has been changed at the request of the client. from : ABC Mortgage 123 Main Street Anytown USA 12345 to: ABC Mortgage 789 Market Street Road Anytown USA 12345

I think that should be clear enough.... the real import thing here that is discussed in USPAP is the client has not changed. I saved both versions that went out to the client... the original with the old street address and a new version with their new address.


I agree with most of what Lee Ann stated. But, I would not change the original appraisal report. The client was at the first address at the time of the effective date of the appraisal. The appraisal has an effective date and a signed date. If you changed the appraisal report then it would have to have a different signed date and that may not be a good thing to have two appraisals running around with the same case # on it with your signature. Also, it could be viewed as misleading since the lender was not actually at the second address when you completed the appraisal report.
 

DKAYTES

Thread Starter
Junior Member
Joined
Jun 4, 2007
Professional Status
Certified Residential Appraiser
State
New Jersey
I agree with most of what Lee Ann stated. But, I would not change the original appraisal report. The client was at the first address at the time of the effective date of the appraisal. The appraisal has an effective date and a signed date. If you changed the appraisal report then it would have to have a different signed date and that may not be a good thing to have two appraisals running around with the same case # on it with your signature. Also, it could be viewed as misleading since the lender was not actually at the second address when you completed the appraisal report.

(My bold) I was not planning to change the original report... I am sure they might come back to pressure me to do so. The signature dates would certainly change based on the date of the request. I think that should go without say. I was merely trying prepare myself of the possible request that might come across. I certainly didn't see any issue with changing it on the CIR since that was just done 2 days ago. I even raised the point to them in reponse to the original request - that the address on the 1004 report is the address that was on the request. Period.
 
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