Found a little jewel while doing light reading

[Mike Boyd]

The mortgage company's name was on the appraisal as the client. The employment contract was between the company and the employee. Not between the appraiser and the employee.

Sue the mortgage company. It's their responsibility to pay the appraiser. If they want to recover the money they can sue their employee.

Also, file a complaint with FHA. If FHA says they do not get involved in fees, show them that letter.

 

[Mike Boyd]

Greg,

The problem I have heard is not who is responsible but that HUD will do nothing if the lender will not pay. Same thing for VA. If you don't get paid they will not do anything to help you.

How about HUD or VA pulling their credentials if they fails to pay for services they order and are delivered.

20 years ago that was an FHA policy....they would remove their direct endorsement authority. I do not know if that has changed.

 

[Greggnvegas]

Also, file a complaint with FHA. If FHA says they do not get involved in fees, show them that letter.

Absolutely correct. The order is actually from the mortgage company NOT the just the LO. The LO is an agent of the company. If the agent does not work there any longer, nothing has changed. It is still the responsiblity of the company to pay for the appraisal. Then they may try and collect from the original LO. Also, you might want to call the Mortgage Lending Division, if you have one. We do have one in Nevada.
Gregg

 

[RSW]

I had a lender refuse to pay for an FHA appraisal several years ago. I told the owner that I was going to file an offical complaint with HUD if the appraisal fee was not paid. I received payment within a few days. I guess he did not want me calling HUD.

 

[sbb04]

Since you're not party to the agreement I would just file for a judgment on
the company. That's a contract between him and his employee which I interpret as his still being liable and it's up to him to recover the cost from the LO.

I cannot open the link. I did one in July of last year and I have not gotten paid yet. The LO is giving me the run around. The loan never closed and the LO moved to another mortgage company. He does not return my calls. I called his previous employer and went to see him. He gave me a copy of the employment contract with the LO that stated clearly that all appraisal orders have to be COD. if ordered otherwise, it is the sole responsibility of the LO to pay for the report. What should I do?.

 

[sbb04]

You can try but I wouldn't hold my breath.

Last week I went out to do an inspection, arrangement was made so that borrower (buyer) would meet me at the property for payment. When I finished the inspection buyer had second thoughts and refused to pay me for the appraisal. Said he was not going to buy and did not care that he had a contract. So, would I be able to go after the lender for payment. at least partial payment?

 

[NANCY BENNETT]

I Can't Open The Link?????

 

[starmansf]

collection problems

Is there something about FHA appraisals that precludes them being paid at the time of inspection?

 

[AnonApprsr]

Is there something about FHA appraisals that precludes them being paid at the time of inspection?

Only that maybe the lender hasn't gotten the case number yet, and is afraid that the loan won't be approved.

 

[starmansf]

pg. 14 of 172 (4150.2) "The appraiser and the lender will negotiate the price and due date. HUD does not establish fees or due dates."

While some of you may want to wait for the lender to graciously reward you for your work, I will demand payment at the time of inspection. If they want it now, they can pay for it now. It works everytime, or I don't.