How would you answer this?

[amluscombe]

Completed & sent an FHA appraisal for broker I had never worked for before & recieved this in return......

".....Just received your appraisal on XXXXX. It is a far cry from 105K that the borrower thought it was worth. Do you not do a little background work to see if value is even their before you go out so the customer does not through away 400.00? Am I missing something, it appraised at 99K last time she refied. "

Also, broker called my business & HOME numbers six times this morning without leaving a message. I know we all battle with this frequently so how would you respond to this? Just wanted to hear some different responses.....

 

[CANative]

Tell him to go cry about it at www.brokeroutpost.com

so the customer does not through away 400.00?

Maybe take some remedial English at nightschool too.

 

[Otis Key]

Completed & sent an FHA appraisal for broker I had never worked for before & recieved this in return......

".....Just received your appraisal on XXXXX. It is a far cry from 105K that the borrower thought it was worth. Do you not do a little background work to see if value is even their before you go out so the customer does not through away 400.00? Am I missing something, it appraised at 99K last time she refied. "

Also, broker called my business & HOME numbers six times this morning without leaving a message. I know we all battle with this frequently so how would you respond to this? Just wanted to hear some different responses.....

Sounds similar to one I recently forwarded to the HOC but I had a rather numerous followup emails to add to my forward to the HOC. I informed the LO (this was a pACIFIC cOAST mORTGAGE group) that the borrower had paid for an appraisal to be delivered to him, which it was, so that he could make a mortgage finance decision based on the informed products sent to him - which it seems at this point he has made such a decision. As such, the appraisal has served the purposed it was intended for and as stated within the appraisal report.

You can get into an email battle with him or let him be (odds are until you at least respond in writing, he'll continue to call).

 

[Pamela Crowley (Florida)]

Get is all in writing and report it all at www.MortgageFraudWatchList.org

 

[amluscombe]

He emailed it to me this morning, so I already have it in writing. I got paid in advance, too. Thanks, Pam.

 

[Mike Phillips]

Completed & sent an FHA appraisal for broker I had never worked for before & recieved this in return......

".....Just received your appraisal on XXXXX. It is a far cry from 105K that the borrower thought it was worth. Do you not do a little background work to see if value is even their before you go out so the customer does not through away 400.00? Am I missing something, it appraised at 99K last time she refied. "

Also, broker called my business & HOME numbers six times this morning without leaving a message. I know we all battle with this frequently so how would you respond to this? Just wanted to hear some different responses.....

He has a point about throwing the borrower's money away, but he is pointing the finger at the wrong person instead of looking in the mirror. He had various options available to him including Zillow, maybe ZAIO, multiple AVM providers and/or phoning some local RE brokers he knew for advice and guidance, prior to calling you.

He even had the option (I suspect) to structure the order such that he could have at least saved the borrower a considerable portion of the $400.

Tell him if the previous appraisal was $99K, and he didn't just fall off the freaking turnip truck somewhere along the line a bell should have gone off in his head that maybe the value would be less than $99K now.

I'm convinced some of these mortgage brokers have trouble tying their shoes on a daily basis.

 

[RustyLingerfelt]

I would refer you to page 1-4 section c and d of the 4150.2 handbook- I have had to deal with this same thing this week. I copy and paste this to e-mails as we all know you don't get emails unless the value is not there.

Rusty

 

[Otis Key]

He has a point about throwing the borrower's money away, but he is pointing the finger at the wrong person instead of looking in the mirror. He had various options available to him including Zillow, maybe ZAIO, multiple AVM providers and/or phoning some local RE brokers he knew for advice and guidance, prior to calling you.

<snip>

I'm convinced some of these mortgage brokers have trouble tying their shoes on a daily basis.

What? And waste his time doing what he should have been doing instead of selling loans? How shameful of you.

I agree with the last part I left posted - from what I know, most wear slippers, flip flops or loafers. :laugh::icon_mrgreen:

 

[Bama Bayou]

How would you answer this?

Tell him he asked for an appraisal and you provided it. If he keeps calling tell him to stop. You don't want to work for jerks like this.

 

[Mike Kennedy]

YOU Don't respond-let the Inspector General reply

Completed & sent an FHA appraisal for broker I had never worked for before & recieved this in return......

".....Just received your appraisal on XXXXX. It is a far cry from 105K that the borrower thought it was worth. Do you not do a little background work to see if value is even their before you go out so the customer does not through away 400.00? Am I missing something, it appraised at 99K last time she refied. "

Also, broker called my business & HOME numbers six times this morning without leaving a message. I know we all battle with this frequently so how would you respond to this? Just wanted to hear some different responses.....

http://www.HUD.gov/offices/oig/hotline/ COERCION is.....as Coercion DOES.

"WHAT HAPPENS IF YOU DO NOT OPEN A CASE BASED ON MY REPORT TO THE OIG HOTLINE? A vast majority of the reports that we receive in the OIG Hotline do not result in cases because they are program related or administrative matters. In these situations, we will send you a letter explaining that your report is unrelated to the OIG mission and that we have referred it to a HUD program office or another government agency. We will provide you with a contact number, if one is available."


OR........IN IOWA >>>>>>


Iowa Attorney General
Consumer Protection Division
1305 E. Walnut Street
Des Moines IA 50319
515-281-5926 Phone
Consumer Complaint Form
http://www.state.ia.us/government/ag/forminfo.htm



http://mbafightsfraud.mortgagebankers.org/reportingfraud-ia.html