Found a little jewel while doing light reading

[CANative]

From HUD Handbook 4000.2...

In case you get stiffed on an FHA fee.

2-13 APPRAISAL AND INSPECTION FEES. The lender is responsible
for collecting fees and promptly paying appraisers and
inspectors.

http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=HBKS&s1=4000.2&op1=AND&l=100&SECT1=TXT_HITS&SECT5=HBKS&u=./hudclips.cgi&p=1&r=4&f=G

 

[CCAAMO]

From HUD Handbook 4000.2...

In case you get stiffed on an FHA fee.



http://www.hudclips.org/sub_nonhud/..._HITS&SECT5=HBKS&u=./hudclips.cgi&p=1&r=4&f=G

That's all you need to quote when you sue them in Small Claims and they claim it's the borrower's responsibility!

 

[teh l33t]

Nice to know. Haven't got stiffed on one yet (knock on wood), but surely one day it will happen. Thank you!

 

[SAKO MK]

That's Good To Know, I Just Did My First One This Week In Over 5 Years

 

[Jasonganem]

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?.

 

[Ron Little]

find out where the scumbag works.. walk in to his office with invoice in hand and the little FHA snippet that Greg found, and a copy of his previous contract and threaten small claims court.. would not hurt to speak to the broker at his new place of business either. be a pest. be a pest be a pest.

 

[CANative]

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.

 

[Roger Hudson]

Sue the L/O in smalls claims court and tack on a LOT for collection costs.

 

[hawkeye]

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?

 

[Bob Ipock]

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.