Confirm That Utilities Are "on And Working"

[residentialguy]

You were talking about the handbook which sounds like you meant the FHA handbook.

I have slight attention deficit wow I love your hair hyperactivity disorder

 

[Have Laser-Will Travel]

I have slight attention deficit wow I love your hair hyperactivity disorder

 

[TRESinc]

You missed his operative word: "should". That's just advice, not changing anything. Nothing wrong with that.

that's certainly one interpretation. another is that tom is instructing others to violate what the 1004 states. regardless an appraiser SHOULD NOT be adding that their client and ONLY their client should rely on the report for the purpose of making a lending decision.

Cert 23 is not giving permission to rely on it, other than it's use with the intended user

it most certainly is giving permission for others beyond the stated intended user to rely on the appraisal. cert 23 does not even address the intended use. it states that specifically:

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties

so again, adding a statement such as "the client and only the client should rely on this report" is in direct violation of cert 23, which we agree to when we use the 1004 which prohibits us from modifying any of the pre-printed items we have been discussing. if you want to get into semantics over the definition of the word "should" you can have a dictionary copy/paste session with kennedy

 

[Mr Rex]

...but it makes him "feel" better about it, and that's all that really matters right? Several pages of redundant CYA that conflicts with the pre-printed verbiage on the form(s) does little if not diminishes the appraisers credibility IMHO. So many claim it helps, state case law that establishes that precedent in the real world. Even the oft touted LIA additional CYA language doesn't reach the level of bloviation suggested here but I digress when I could just go on and on and on and on...

 

[Tom4value]

that's certainly one interpretation. another is that tom is instructing others to violate what the 1004 states. regardless an appraiser SHOULD NOT be adding that their client and ONLY their client should rely on the report for the purpose of making a lending decision.



it most certainly is giving permission for others beyond the stated intended user to rely on the appraisal. cert 23 does not even address the intended use. it states that specifically:



so again, adding a statement such as "the client and only the client should rely on this report" is in direct violation of cert 23, which we agree to when we use the 1004 which prohibits us from modifying any of the pre-printed items we have been discussing. if you want to get into semantics over the definition of the word "should" you can have a dictionary copy/paste session with kennedy

First of all, we are only prohibited from altering the certification page in the URAR. We are free to add any certification we deem fit on a separate addendum page. Please use caution when using words like "in direct violation".

Second, this is what I add to my reports.
"The appraiser has not identified any purchaser, borrower or seller as an intended user of this appraisal and no such party should use or rely on this appraisal for any purpose. Such parties are advised to obtain an appraisal from an appraiser of their own choosing if they require an appraisal for their own use. This appraisal report should not serve as the basis for any property purchase decision or any appraisal contingency in a purchase agreement relating to the property."

I didn't make this up. I got this, word for word, from the appraisal convention in Vegas and it was written by a lawyer with extensive experience in laws pertaining to appraiser liability.

 

[TRESinc]

First of all, we are only prohibited from altering the certification page in the URAR. We are free to add any certification we deem fit on a separate addendum page. Please use caution when using words like "in direct violation".

please go back and read the form.

never mind, i'll post it here (again) for you so there is no question what it says:

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted.

ok, so tell us all again how you are allowed to modify any certification you wish???

Second, this is what I add to my reports.
"The appraiser has not identified any purchaser, borrower or seller as an intended user of this appraisal and no such party should use or rely on this appraisal for any purpose. Such parties are advised to obtain an appraisal from an appraiser of their own choosing if they require an appraisal for their own use. This appraisal report should not serve as the basis for any property purchase decision or any appraisal contingency in a purchase agreement relating to the property."

I didn't make this up. I got this, word for word, from the appraisal convention in Vegas and it was written by a lawyer with extensive experience in laws pertaining to appraiser liability.

ok, let's take a look at cert 23 yet again:

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties.

sure looks like your statement is in direct conflict to what the cert says...

 

[Tom4value]

please go back and read the form.

never mind, i'll post it here (again) for you so there is no question what it says:




ok, so tell us all again how you are allowed to modify any certification you wish???






ok, let's take a look at cert 23 yet again:



sure looks like your statement is in direct conflict to what the cert says...

Then don't use it!
As I recall a few weeks ago, you "scolded" me by claiming that no client has ever asked you to comment on if the utilities are on. That's what this whole thread is about so you were wrong about that. Unless you are a lawyer trained in appraiser litigation, give it up!

 

[TRESinc]

Then don't use it!
As I recall a few weeks ago, you "scolded" me by claiming that no client has ever asked you to comment on if the utilities are on. That's what this whole thread is about so you were wrong about that. Unless you are a lawyer trained in appraiser litigation, give it up!

your logic is like swiss cheese.

 

[residentialguy]

ok, so tell us all again how you are allowed to modify any certification you wish???

Have you ever done an REO with an REO addendum?

 

[TRESinc]

REO, yep. none of my clients have ever requested the REO addendum though.