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From A Fb Group Post Today

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CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Hey, I need some feedback.
Did an appraisal, effective date 5/20. 2 of the 3 comps dated 4/28 & 5/5. Lender just called and asked if I can redo as a retro as of 4/20 so those 2 comps disappeared.
What is that and how do you begin to answer?

It's been determined that the intended use is mortgage lending for an ordinary loan.

I say it would be enabling mortgage fraud. Others (some) are saying it's just a scope of work issue; a new assignment; collect a new fee; etc., etc.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
It's been determined that the intended use is mortgage lending for an ordinary loan.

I say it would be enabling mortgage fraud. Others (some) are saying it's just a scope of work issue; a new assignment; collect a new fee; etc., etc.
I agree that it is enabling mortgage fraud and I agree that there are a bunch of truly incompetent people who are posting in that thread
 
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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Can you do that?

"No, I can't."
 

CindyR

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
It's been determined that the intended use is mortgage lending for an ordinary loan.

I say it would be enabling mortgage fraud. Others (some) are saying it's just a scope of work issue; a new assignment; collect a new fee; etc., etc.

well if it was a really good client and i seriously did consider performing that retro appraisal i would be sure to include the 4/28 and 5/5 pending sale and probably reach the exact same OMV. and yes, sounds like mortgage fraud to me.
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
Idk. I am not shy. My first question to my client would be why? I would go from there and disclose in the subsequent appraisal everything if I decided to take the new assignment.

Part of my job is reading people's motivations so the question "why?" would be a start. Depending on the answer, would determine my next steps.
 
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CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Thread Participant: "Why don't you just ask them why a retro report is needed? They have to tell you. If they don't or the reason isn't kosher, decline."
Thread Starter: "I did and in plain English they want 2 comps disappeared."
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
A retro, rebuttal, reconsideration combo. I see a new AMC product on the horizon.
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Sounds like one of those questions that should have never made it to the public because the answer is so f'n obvious......

Probably best that I was banned from FB or I would really manipulate this bonehead "appraiser".
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
It's been determined that the intended use is mortgage lending for an ordinary loan.

I say it would be enabling mortgage fraud. Others (some) are saying it's just a scope of work issue; a new assignment; collect a new fee; etc., etc.

That's why I don't go on FB, I waste enough time on this BB.

This is mtge fraud, deja vu back to 2006- 2008. If an appraiser has to even ask this question...imagine all the appraisers out there accommodating client requests for shady activity that just say yes , and don't post ?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
This is lying pure and simple...if the OA inspected 05/20, how can they make a retro inspection date as of 04/20. since they did not actually inspect the property on 04/20? Can they teleport themselves back in time?

The only way it can be legit retro appraisal is if they disclosed prior service/ interior inspection on 05/20 for a current date appraisal, but per client request are doing it as a new assignment, a retro appraisal date of 04/20 .
 
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