Doing someone else's final-What's up with that?

[Carnivore]

Randy,

Good post but I might point out that the article I linked to stated they(the crooks) had used ficticous appraisers and/or dead people to conduct the scam! They also had used fictious or altered appraisals. Additionally, many of the loans were originated by a different boker and money sources were varied. A money source scammed was BOA. If they can pull it over on them and a few otheres what chance do you have?

Again, good points you have made. You can call me skeptical, untrusting and overly caustious as long as you make note that I am Active and not pending any investigation. Which is the way I like it.

 

[Mike Garrett RAA]

Andrew, thanks for posting the story, it is good to see these things being disclosed but you are comparing oranges to apples.

Doing a final inspection for completion of construction or a repair item is a relatively simple thing. When we do it it is usually at the request of the VA. The original appraiser is unavailable for any number of reasons all legit. I see no reason not to do it.

 

[Randy Beigh]

Andrew

You make a good point. I am coming at this from the community of 400,000 that I am in. If the lender calls and says so and so is on vacation, there is a good chance, I know or know of the appraiser. In big cities, that may not be the case.

Caution is advised in that situation.

I am not convinced that caution will keep you from being reported to the state. I have always thought this was a function of time. If you do enough reports over a period of time, the chance that someone will report you will increase.

I have never, nor have any of my employees, been turned in. This does not mean all the appraisals that have left this office in the past 13 years were of high quality. It means they didn't get caught.

Sometimes, appraisers take themselves to seriously. But, if you ever want to humble yourself, pull out an appraisal that you completed a year or so ago and read it. You will in all liklihood find yourself saying things "Did I really say that" or finding errors or misspellings or worse. I have done this exercise and it's kinda scary.

 

[Pamela Crowley (Florida)]

... if you ever want to humble yourself, pull out an appraisal that you completed a year or so ago and read it. You will in all liklihood find yourself saying things "Did I really say that" or finding errors or misspellings or worse. I have done this exercise and it's kinda scary.

:shocked!:

Tooooo true!

 

[Mike Simpson]

I couldn't comment about V.A. orders--I can't seem to get on the approved list as they apparently open up the panel as often as the Red Sea parts.

There's another take on the 442 thing though. When's the last time some of you went to inspect the property after being told all the work was finished? I can't tell you the last time I found one of these properties actually completed. I received a CLAIM ALERT from my insurance company not long ago stating there were increased incidents of Builders walking away form the properties after learning the appraiser had given the lender a Completion Certification.

-Mike

 

[Pamela Crowley (Florida)]

Mike,

That is one of the reasons the builders here won't use me. I actually want it complete before I sign that it's complete. Apparently, "No other appraiser ever did that."

 

[Rlong]

I have done them for other appraisers in the office, and sent an associate to do one for me. Never thought about doing one for another office, I prolly would, IF I did not have to certify value AND had the plans n specs. Would work best in a tract home situation NOT as well in a custom home where they change all the finishes as they go.