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Haunted By The Past

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robert hoagland

Freshman Member
Joined
Jan 27, 2003
Professional Status
Certified Residential Appraiser
State
Connecticut
What to do? Got a call from a prospective client today. It seems my name came up on their radar from a past (Jan. 2001) multi-family appraisal I did while a trainee. My final "value" was $40,000 higher than a field review that was eventually done. I am sure that my sponsor was contacted about this and must have been asked for an explanation. I never heard a thing, until now. The prospective client offered me the address and dollar amounts involved. I checked my database and discovered that my final value was not what had been submitted to the bank, it was higher.
Did my sponsor change my numbers to raise the value and make the deal work before sending the job in?
Mr. prospective client would like a short letter from me explaining the reason for the discrepancy, then I can be put on the "approved" list.
I am just starting out on my own and I am trying to secure clients. Is it worth the trouble to be involved with such a suspicious client? Mr. prospective client informed me of a national service, I think he called it "Murray", that collects data on flagged appraisers. Is this typical?
I forgot to mention that my former sponsor died last Dec., I have no access to the workfiles nor do I have a copy of the actual said appraisal that was submitted. I might be painting houses this summer instead of appraising them.
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
Robert,

You may want to double check with your sponsors family as to the whereabouts of the files. In most states, you are required to have a copy of that appraisal for a minimum of 5 years. It does not matter that a sponsor has a copy. You, as the appraiser who performed the appraisal, must have a copy.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
The fact that they want a short letter for the files instead of dumping you right off sounds good. State your facts and go on with it. I wouldn't try to get into a ##ing contest with your sponsor.

Roger
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
I am with RStrahan,
Tell them what you just told us and get yourself a new client. Welcome to the world if mortgage origination appraisal work. The hardest thing is finding clients who want the truth and not a number that makes their deal work. It sounds like these people care about the truth. I would kiss their behind to get them as client and then follow up with great service.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Did your supervisor have access to your digital signature? If so... VERY BAD thing to do!!! NEVER, EVER do that again!!!! My own mother would not get access to my digital signature. That plus, ALWAYS have a copy of the report that was sent to the client for yourself. The last trainee that spend a few days with me told me things about another local shop that are really scary and most trainees have no clue how wrong and illegal the workings of the shop they're in really are.

If you do have a copy of what you sent to your supervisor, I would consider sending this client a copy of yours but only if it's the same client that the report was originally completed for and only if they ask for it.

With that, I agree with Frederick.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Pam:

Correct me if I am wrong... one MUST keep a copy of the report and "have access to the complete workfile" even if signing as a trainee?

:huh:
No?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
In my state you do. In fact, you must have a "TRUE COPY"....i.e. - EXACTLY what the client has including signature, stamp, etc....The practice of making almost true copies does not cut the mustard. Further, our state is denying any experience claimed where the appraiser cannot produce the work file, even if the co-signatory has the files and either refuses to give them up to you or is dead. Remember if you have a falling out with your signatory, how uncomfortable is it going to be to get those records reconstructed?

It is a nusiance, but when I sign off my subs reports, we make two PAPER copies, one for each of us.

As for digital signatures, If I don't trust them, then I am not going to do business with them at all. But generally they bring the report to me in file form, which I then load on my computer and review it. After we agree upon any changes, I print the thing off, make a copy on my copier, send the orig. with the appraiser back to their office and they make a copy and deliver the original (we EDI about once every 6 months, the rest are local and we use their courier service from our closest bank.) So I do have a "True" digital copy (as does my sub) and a "True" paper copy for a file folder.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Originally posted by Lee Ann@Apr 16 2003, 10:37 PM
Pam:

Correct me if I am wrong... one MUST keep a copy of the report and "have access to the complete workfile" even if signing as a trainee?

:huh:
No?
Yes.

It's something that many shops here tend to pooh pooh.

I have a true copy of everything I ever signed. The last trainee I had follow me around a few days told me he has no copies of any of them, his supervisor had his digital signature, made changes he didn't know about until way after it was sent - with his signature on them. When I asked him what he intended to do if the state ever asked him about one, he said that after watching me work, he would simply hand in his license. In fact, he did decide to quit appraising.

Makes me both sad and very angry the way toooo many trainees are being taught.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Robert:

back to your query~(sorry for the hi-jack :redface: )
You are on the hook with this 'suspicious' client anyway...... if they want to hang you, you are going to be swinging...

I guess I take a different view on how to proceed: IF a client is ethical and organized enough to not only recall my name from a complaint "many years ago" but to politely inquire as to whether I have an explanation.... :idea:

I believe I would give it to them ~! In the hopes of acquiring a client who on the surface anyway appears to actually care about ethics (or at least realistic values :rolleyes: )!

IF they are going to attempt to use anything you say or write against you... welll... to a limited extent you are dually protected by YOUR copy (which has a lower value if I read your post aright)... and the fact that your deceased mentor is not around to explain... Now in terms of your responsibility to have full copies of your work and workfile... well if they file a complaint with the state you are in hot water. Youth, inexperience and such might go a long way to resolving that problem, you were the trainee!~ Plead ignorance and stupidity (hopefully get a slap on the wrist in a worst case scenario...)

Now all that said:

IF you are not planning to give this client a good well researched and supported workproduct: then run Bambi RUN!

You would definitely NOT want to start work for them and hand in slipshod or slapdash work, cause yess they are GOING to be watching you (for a time anyway)

so my opinion.
 

John Hassler

Senior Member
Joined
Jul 23, 2002
Professional Status
Certified Residential Appraiser
State
California
Robert

Ask the client to send you a copy of the report they say is "yours" so you can review it and check it against the file you say you have in your database. It may not have been your mentor who changed the value. Mortgage brokers, hard as it is to believe :eek: , have been known to do a little cut 'n' paste with the signature. Good luck!

John Hassler
 
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