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Collection Of Fees Different With FHA?

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Davy

Sophomore Member
Joined
Oct 3, 2016
Professional Status
Certified Residential Appraiser
State
North Carolina
Am I missing something here? I was sent a check for an FHA appraisal from a financial company for an FHA appraisal I did for another institution. Ummm, what? Do we get paid as many times as the report goes from lender to lender? Am I missing something?

The financial institution that sent me the check called me yesterday and stated, "We have UPS'd you a check for the appraisal you did for Ms. "XXXXX" at "XXXXXX" Street." I said for them to send me an email requesting the report in question to give me time to research, because I could not remember the bank/client I was doing this for originally and maybe this is the same bank and they are confused or something. Well, I confirmed that this is a different bank altogether and that this financial company was basically asking me to assign/release them the appraisal. Their email contained a copy of a letter from the borrower stating that, "It was OK for me to do that, blah blah." I'm smart enough to know that I cannot legally reassign an appraisal and that such a request can only legally be handled as a new appraisal assignment with a new inspection, etc. But....

Here is where it gets interesting: the email request they sent me is cc'd to a number of people within their company. I thought I would take myself out of the loop and include the original lender's company name, the compliance officer who ordered the appraisal from me, etc., along with a clear statement that I cannot legally reassign this report and for them to contact the person and company I originally did the appraisal for....

...Well, one of the VPs cc'd in the email replied to the dude making the request that they had the FHA number reassigned to them and I didn't need to do anything on my part. Also, the original lender's compliance officer stated the same thing and said they'll give the other company the report and I don't have to act at all.

Today I received a substantial check for the FHA report. Full fee. Ummm, what? I though they were joking about sending me a check and using that as a pressure tactic to have me possibly do something illegal. So, the financial company that wants the appraisal reassigned to them gets it from the client, BUT pays me for it even though it was already paid for by the original bank. Is this an anomaly? I have not done FHA appraisals very long, so my stupid question is, "Am I missing something and does this have anything to do with the way that the FHA does things?" I plead ignorance on the subject and I am unsure that I can legally (or ethically) collect fees on the report (again) in question.

My gut tells me to tear up or return the check since the report was paid for already. My flesh wants to tell me that it's OK to cash the check since the other financial institution wants to pay for it (I'm all about making them happy, right?) lol BTW, there is no property address of the subject on the check or the check stub...

Opinions? I want to do the right thing here.
 

BRCJR

Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
Void the check and photocopy it before you return to sender. You have no relationship with the entity that sent those funds.
 

Davy

Sophomore Member
Joined
Oct 3, 2016
Professional Status
Certified Residential Appraiser
State
North Carolina
Void the check and photocopy it before you return to sender. You have no relationship with the entity that sent those funds.
I was thinking to return it or tear it up. I'll send it back to them after voiding it. Thx
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
I think I would void the check. Make a copy and send it to FHA/HUD with a letter. If it smells bad......
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
To clarify one point -
Since FHA is the client for all FHA appraisals, any (FHA approved) lender can use it.

As to the check - you might remind lender #2 that there's no need to pay you for what you've already been paid for. You just might find that they'll say keep it, it would mess up our accounting.
Stranger things have happened.

/
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
NO FHA/HUD IS A FULLY PORTABLE APPRAISAL ..YOU WANT PAID BECAUSE IT GETS SENT TO ANOTHER LENDER ? GET A LIFE : LOL
 

Tom D

Senior Member
Gold Supporting Member
Joined
May 22, 2015
Professional Status
Certified Residential Appraiser
State
Pennsylvania
when the 2nd lender does not have a 'paid invoice' from you, surprised they didn't contact you, the will pay you because the HUD1 has to show payment. you are assuming the buyer paid the 1st lender. maybe yes, maybe no. you don't have to cash the check if you so desire. some companies are so big, finding their billing department is not easy to mail back.
 

Kitarkus

Junior Member
Joined
Nov 15, 2006
Professional Status
Certified Residential Appraiser
State
Kansas
NO FHA/HUD IS A FULLY PORTABLE APPRAISAL ..YOU WANT PAID BECAUSE IT GETS SENT TO ANOTHER LENDER ? GET A LIFE : LOL


Really man? Really? Your post is unwarranted COMPLETELY! Not only did you not adequately read the OP....but then you flew off the handle and berated him/her needlessly. It is posts like yours that make this negate the usefulness of this forum. If you aren't in the mood to be helpful.....go for a walk rather than posting on this form!
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
To clarify one point -
Since FHA is the client for all FHA appraisals, any (FHA approved) lender can use it.

As to the check - you might remind lender #2 that there's no need to pay you for what you've already been paid for. You just might find that they'll say keep it, it would mess up our accounting.
Stranger things have happened.

/

The FHA is not the client. They are an intended user. The Lender is the client. You need to go back an read 4000.1 a little bit more.
 
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