Mike Garrett RAA
Elite Member
- Joined
- Jan 14, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
I am able to get copies of the HUD statements from most of the builders for new construction stuff. GLB really doesnt prohibit providing that data to the appraiser for verification of a sale.
Confidentiality applies to certain income and financial data about the borrower, not the terms of the sale, etc. That is just a big excuse to not do the work. My way of handling it is, "OK, I will remember that the next time I am working on one of your deals". See how quick they find they can give you the information.
I really do want the HUD statement on any new construction sales these days because there is so much stuff going on with the builders. Often the sales are so new they are not available from the county and the builder is the only other source.
Confidentiality applies to certain income and financial data about the borrower, not the terms of the sale, etc. That is just a big excuse to not do the work. My way of handling it is, "OK, I will remember that the next time I am working on one of your deals". See how quick they find they can give you the information.
I really do want the HUD statement on any new construction sales these days because there is so much stuff going on with the builders. Often the sales are so new they are not available from the county and the builder is the only other source.