Coustomer Brochure ideas wanted

[Jeff Horton]

In a previous post an idea came up about printing a brochure to give the customers with information about Appraisals. This sounds to me like a great way to educate the borrower on several issues. I like the idea and I am thinking about creating one. If I do I would create it in Word or as a PDF and give it to anyone that wanted.

However I need some input. I have pulled a couple of ideas from my web site and would like to see some others. Here are some things that I think might be good to put in a brochure.

• Appraisal Process * description of how we do an appraisal
  
  Privacy Info * who is the client and why we can't share with borrower
  
  Inspection * appraisal is not a Home Inspection
  • 
    
    We could add our company address and logos. It might even be a good thing to educate some of our clients too!
    
    If you have any idea's or have or would like to write something I am open!
    
    Jeff <*><

 

[Stone]

I think that something to emphasize in the appraisal process section would be the fact that we can't put a value on the property after only doing the inspection. Not even a "Ballpark," which is invariably how the question is re-phrased when a specific value is not immediately offered.

Just a thought. I will be interested to see how this turns out.

 

[Mountain Man]

This web page may help give you some ideas. It is well written and gives general info. about the real estate world.

http://www.quickval.com/appraisal/index.asp

 

[Rlong]

I would like to share what you have also, I am working on the same thing, along with my website. I will look around at some things I have. One of the things the State of Colorado came up with for appraisers to use when dealing with homwowners was as follows. Not that I believe it would have to include all of this, but this is what they came up with. (it has been approved to share)

Important Notes About Your Appraisal

The lender who ordered, accepted delivery and based a business decision on the appraisal is the client, regardless of who paid for the appraisal, or when or how. The borrower is not the client. The appraiser must comply with the client confidentiality provisions of the Uniform Standards of Professional Appraisal Practice.

This law applies to nearly all real estate secured residential mortgage lenders, including banks, S & L's, credit unions, mortgage bankers, mortgage brokers, mortgage originators, etc.

Rules promulgated by the Federal Financial Institutions Regulatory Agencies allow borrowers a 90 day period during which to file the written request for a copy of the appraisal.

The lender must supply a copy, not the original appraisal report.

The residential borrower(s), or potential borrower(s), must obtain the appraisal copy from the lender, not the appraiser.

Only the residential borrower(s), or potential borrower(s), has the right to receive a copy of the appraisal from the lender. Sellers, brokers, and other parties who are not the borrower have no right to obtain a copy of the appraisal.

The Appraiser may not reissue, retype, recertify, update, transfer or otherwise pass an appraisal report prepared for one lender/client to another lender without a written release from the original client. Any reissue, etc., appraisal report must clearly identify the original client, appraisal date and value conclusion in the limiting conditions section. Inclusion of a copy of the written release in the reissued, etc., report is recommended

 

[Rlong]

This was also suggested when issuing a reciept for "pick up check" orders, but it might have a place in a brocure.

Our report of the appraisal may only be delivered to our client. Under the Confidentiality section, of the ETHICS PROVISION of the Uniform Standards of Professional Appraisal Practice, we are under a strong obligation to our client, and may not discuss the results of the appraisal with others, or provide copies of the report to others, without written permission from our client.

Under 12 U.S.C.A. Section 1691 (e), part of the federal Equal Credit Opportunity Act, a residential mortgage applicant has the right to receive a copy of the appraisal report from the lender. To receive the copy of the appraisal report, the borrower must request it in writing from the lender within ninety days of submitting the loan application.

 

[Restrain]

Just a note: I worked for a company that had spend a bunch on glossy brochures. In the time that I worked for that company, I don't believe a single client was ever obtained through these brochures. So, keep it to a 1-2 page document that will keep your cost down if you decide to go that way. At least you won't be setting around with a box full of high-priced fireplace starters if it doesn't work for you.

 

[Bryan (OK)]

Jeff and Rlong,

Great info and thoughts. Seems like this could fit on front and back of a legal size single sheet of paper. Thanks for taking the initiative and time to collect these statements. I would definately like to download a copy in Word or .pdf when available.

70 deg in OK later today!

Best Regards,

Bryan