Gated Community

[BRCJR]

A lender cannot, legally, give the appraiser any mortgage document that is not recorded at the court house. Generally, a security agreement is not recorded, just a deed and DOT.

Lenders have confidentially rules, also.

Not a matter of public record, lenders do not want lawsuits and most likely will not give out any information such as mentioned in prior posts..

 

[JSmith43]

A lender cannot, legally, give the appraiser any mortgage document that is not recorded at the court house. Generally, a security agreement is not recorded, just a deed and DOT.

Lenders have confidentially rules, also.

Not a matter of public record, lenders do not want lawsuits and most likely will not give out any information such as mentioned in prior posts..

Pretend you are a lender and need to deal with a default confidentiality, say, by having the customer agree that something may be shared

 

[BRCJR]

Pretend you are a lender and need to deal with a default confidentiality, say, by having the customer agree that something may be shared

I do not need to pretend I am a lender, as I am a lender.

All you need to do is rescind the confidentiality agreement, in writing, and the court of law will side with the borrower.

If you deny a loan because a borrower will not agree to disclosure of confidential information, to someone such as an appraiser, that may be another lawsuit, itself.


Slippery slope to say the least, in my opinion.

 

[JSmith43]

I do not need to pretend I am a lender, as I am a lender.

Are you pretending to be a licensed appraiser so appraisers will talk to you?:laugh:

I'd leave it to the attorneys to work that stuff out. I'm offering potential solutions up for comments. And you?

 

[BRCJR]

Are you pretending to be a licensed appraiser so appraisers will talk to you?:laugh:

I'd leave it to the attorneys to work that stuff out. I'm offering potential solutions up for comments. And you?

Offering up my experience as an employee of a lender, as a staff appraiser, with a staff attorney sharing his knowledge with me of the way it works, in the real world.

I'm offering potential solutions up for comments. And you?

 

[JSmith43]

All you need to do is rescind the confidentiality agreement, in writing, and the court of law will side with the borrower.

Picture that, a distressed owner of gated community real estate, pouring through loan papers to see if there are any confidentiality agreements to rescind so that he can screw up the efforts of the appraiser or lender in evaluating the property he just lost.

Not likely, BRCJR.

Sunshine, I bet you are done with this assignment by now. Sorry about the mini hijack. I liked CP's story the best. Other posters that said they were never denied access to gated communities, I believe them. These droids are not the ones you are looking for.

 

[BRCJR]

Picture that, a distressed owner of gated community real estate, pouring through loan papers to see if there are any confidentiality agreements to rescind so that he can screw up the efforts of the appraiser or lender in evaluating the property he just lost.

Not likely, BRCJR.

...............................................

All depends upon their feelings toward the lender. If they have nothing to loose because there is nothing out there to take (judgement) they may care less.

You must think people do not destroy properties on purpose or make it difficult for the lender to do their job in these situations.

Just because they may be in a "gated community" does not mean they would not act adversely.

I deal with situations just as described. Nothing surprises me.

 

[JSmith43]

TC alert! We have a reviewer stuck in "review mode" and he is doing this to the English language in the process:

If they have nothing to loose because there is nothing out there to take (judgement) they may care less.

BRCJR, I'm done answering the reviewer & UW stipulations for the day. Ever consider underwriting?:icon_mrgreen:

 

[BRCJR]

TC alert! We have a reviewer stuck in "review mode" and he is doing this to the English language in the process:




BRCJR, I'm done answering the reviewer & UW stipulations for the day. Ever consider underwriting?:icon_mrgreen:

Soorry sumtimes i get in a hurry at work when "playing" on the forum and do not prof my forum posts as well as i shuld.

 

[Gregory Beck]

Thank You

I look at MLS for all listings in the PUD and get a gate code from MLS. Then I use it. Come-on guys. User your head.

Thanks Winston I have been appraising over 12 years and I never heard that before I have to look at my MLS closer, although I don''t recall seeing the code. I will double check from now on.
Thanks

Ps I just checked my MLS and mine does not show any gate codes, lucky you.