Have questions about compliance with USPAP

[Ben Vukicevich SRA]

Hmm......I think the confidentiality concern is easily solved

Both borrowers had given my appraisal to the new lenders.

I think the confidentiality stuff went out the window when the lenders released the appraisal reports to the borrowers making any confidential information contained therein public, not that there's any confidential info in a typical URAR anyway????????

Appraise away under USPAP.

As Lee Ann stated, if you don't want to lose your first client's future business, I'd tap dance out of this scenario. That's a business decision on your part.


Ben

 

[Steve Owen]

Lee Ann, sorry (Dee Dee, et. al.)

 

[bradellis]

Lee Ann,

You have this exactly right- exactly.

Brad Ellis, IFA, RAA

 

[Don Clark]

8)

Lee Ann, AKA "Dee Dee" :wink:

You have made a complex issue easily understandable. That ain't easy to do. That is exactly what I was taught in the USPAP Instructors course. However, I too failed the exam. I will retake this weekend on 2-23. Now if the test was as easy and as understandable as your answer, I will have it made.

Don Clark

BTW, this concept sure makes life a lot easier for us working stiffs.

 

[Stone]

Lee Ann

I recall that question being on the national certification test. I believe I answered it as you have stated, meaning you must be carefull to keep any truly confidential material confidential. There was also a possible answer of "you must get permission from the first client." I remember this as one that I spent a lot of time pondering. It would have been nice to see the right answers at the end of the test, to know what they consider to be correct.

 

[Farm Gal]

:lol: 8) :lol: Thanks Brad, when you rubber stamp a reply I feel goood!
I am reallllly starting to feel like I got my moneys worth (and then some) at that seminar!!
~~~~~~~~~
Mike, in my questioning I also addressed that precise point...
what about 'permission from the original client' ?!

(WARNING: other persons interpretations may vary)
In the roundhouse crossfire that followed , what I got out of the discussion is that the appraiser should reccomend that the caller (borrower/or/new client) should attempt to get the 'original client' using those precise words~and NOT the client's name!!!~~ let me repeat: "get the 'original client' to release the report." What they do with this suggestion is entirely up to them and none of MY business until they either 1. order a 'retype' in their name and someone provides me with a release fromt he original client, or 2. Cleint B orders a new appraisal!!

About the ONLY information that IS confidential when talking to Client B is who the original client was(!) and what the original loan amount was (!)and like confidential items on the original order form!!!!

Therefore my prior habit of stating on my report that this property was originally appraised for"cleint X" is no longer included on ANY of my reports unless there is a release stapled to the first page of the report!

do I still 'got it right?' :? I mean to me this makes sense, but my impression was that this part hadn't gotten exactly writ in stone as of yet....

 

[Pamela Crowley (Florida)]

Thanks Lee Ann. I hope others chime in on this issue as I'm not sure of how to handle it anymore.

:roll: 8O

Changing the lender on an appraisal has always bothered me. I'd really rather do a new report at a very nice discount, depending on how old the original is.

 

[Stone]

Lee Ann

That makes sense, and also seems like some serious CYA. Telling the new client to try to get te original client to release the report, but not telling the new client who the original client is. :roll:

This does make sense, in a legal sort of way. Now in a common sense sort of way...

Thanks for the explanation.

 

[Jo Ann Meyer Stratton]

I had to think about that for a few minutes and then it started to make sense. If Client B wants a "retype" then they should have either a copy of the original report from the borrower (which would show the name of Client A) or the borrower has told them they went to Client A and decided they want to apply for a loan through Client B. Anyway, Client B should know all about Client A before contacting the appraiser. If they don't--then Lee Ann's confidentiality kicks in. It is Client Bs responsibility to deal with Client A and if Client A won't provide Client B with a copy, then Client B needs to ask Client A to provide the appraiser with written permission to retype the report in Client Bs name. Client B can use the original report with Client As name on it under specific circumstances. But if Client A has filed it away in a very unaccessible storage area for example, then Client A could give the appraiser written permission to prepare the reproduction or retype. The appraiser should only have contact with Client A until Client A gives permission to forge onward. Yes the original written report is the property of Client A--the written report no longer belongs to the appraiser. The intellectual property of information that was not confidential to Client A, the appraiser can reuse for a new report on a new assignment for a new client or maybe an appraisal of a model match of the house next door. But the written report belongs to Client A.

 

[Dale Smalley]

I would say have them order a new appraisal (COD) and do them as a new assignment. Try to get paid first because no one can understand USPAP.