I think someone's trying to pull one over on me.....

[Judy Whitehead (Florida)]

Got a call a day or so ago from a homeowner asking me to send them a copy of the appraisal I did back in the fall. I explained that I needed permission from the lender but if I had that I would be happy to provide it....this person then proceeded to say the usual, "But I paid you cash at the house" and I proceeded to explain what we are required to do and not do and would need the mortgage broker to FAX me permission to give her a copy. The owner got a little huffy, but said they would call the mortgage broker and arrange that.


Then this morning I get a call from a man stating that he was the mortgage broker and referred to the owner of the house and said that "he couldn't find a copy of the appraisal in his office" so would I FAX the owner one. I repeated what I had told the owner and said that would not be a problem that all I needed was the FAXed permission for my file.

He then told me he had never heard of such a thing and why was that necessary? Dumb me, I figured that this was just another example of a newby mortgage broker that didn't know all the rules and regs. So I repeated the information, including USPAP regulations, Graham whatever, etc. and he then told me he had never heard of such a thing. I told him it was to protect the consumer, and again repeated the regulations that I have to follow. He grumbled a little and said, OK he would FAX something over shortly. This was 5 hours ago.. I now think that the "mortgage broker" that called me was a friend or something and was trying to pretend to be the loan officer. I have a call in to the real mortgage broker now.

So, let this be a lesson to everyone. Be sure you know who you are talking to and get everything in writing - or at least a FAX. I guess they thought that I would believe and follow a verbal instruction on the phone. This was a homeowner that was not happy with the appraised amount I did and was way overextended with 1st and 2nd mortgages and admitted it to me. In fact, this homeowner said that they would have "never" borrowed that much on a 2nd mortgage but that the lender "really tricked them into it." I don't know why they wanted a copy of the appraisal after all of this time, but I guess they are still trying to refi or something. My appraisal was lower than what they owned on the house - per the homeowner.

It finally dawned on me when I didn't get the FAX that I had been "scammed." Be careful out there....... :twisted:

 

[Farm Gal]

Judy:

You weren't scammed, you are too smart for the low-life-scum-sucking-weasels who will (if justice has its way) get some day exactly what they deserve!

Being the suspicious sort, EVEN if I get a fax authorizing release, I tend to follow it up with either a fax number match (better match the line from which the orginal order was sent :twisted , or a quick phone call to lender to confirm release!

Good catch

BTW:

I tend to use the line "Federal Law prohibits me"... yada yada... This generally gets them off your back a LOT faster.

 

[Claudia Cullen]

My older brother worked for a firm that had ANVO printed on all their internal paperwork. What does ANVO stand for?

Accept
No
Verbal
Orders

Not a bad working rule for appraisers.

 

[Willie]

Judy I get sick and tired of explaining the law we are held to, to people. I am beginning to just bluntly tell them get me a release letter from the lender that ordered it and I'll do it. Period. No letter, no appraisal.

 

[Bobby Bucks]

Judy I’ve been there and done that more than once. I’ve reached the point where I actually enjoy being a jerk in those instances. When I hear a loan person say “Why I’ve never heard of such a
thing” I get prepped for war. As for faxes for transfers or permission to send borrower docs, etc. I
get very paranoid. Last year I did a refi for a guy and the mortgage broker was located in Boca
Ratan, FL.....maggots mile don’t they call it? Anyway, about a week later I get messages from
some mortgage broker named Wilbur telling me the borrowers were changing lenders, he was
finalizing the release and would get the original lender to send me all the necessary forms.....he
sounded professional.....much too professional for a mortgage broker. When I got a fax of the release form, something
on it looked odd.......the logo on the letterhead for the Boca Ratan broker was larger than the one
on the original order....also the area code on the fax number imprint was an area code for Buffalo,
NY......I called the guy in Florida to see what was going on and he went nuts.....he said hell no
they weren’t releasing it........maybe he put out a contract on Wilbur because that was the last I
heard from any of them....this huckster had used copy, paste and white out to make his own
release form. I always call to confirm them now.

 

[Judy Whitehead (Florida)]

You know, this has been the week for these sorts of calls. I also tell them it is a federal law and I'm not willing to risk my license by not following the law. They are always like, "No, really??????" I also always offer to FAX them a copy of the USPAP guideline and have been known to do that whether or not they want it! :evil:

 

[Karl]

My comment is It's another government law that makes no sense BUT it is the law. The Mortgage Co is the only one that can give U a copy & since we send them 3 copies their is no reason that they can't help U.

 

[Eric Boggs]

Bobby Bucks Wrote:

Last year I did a refi for a guy and the mortgage broker was located in Boca
Ratan, FL.....maggots mile don’t they call it?

Bobby,

I grew up in Boca (Raton) and lived there for nearly 35 years. There a lot of great people there. There are just as many "maggots" or shady mortgage brokers here in Charlotte as in Boca.

Regards,

Eric

 

[Joe Birrell (NY)]

Judy I get sick and tired of explaining the law we are held to, to people. I am beginning to just bluntly tell them get me a release letter from the lender that ordered it and I'll do it. Period. No letter, no appraisal.

Ditto that - here's my line "I don't have the time to teach appraisal licensing courses (or standards of practice) over the telephone, we have rules to follow and this is one of them".

 

[Bobby Bucks]

Eric the first time I heard that term was from a cousin of mine who is a native of Dania. He told me it was used to describe a specific area which had been set for boiler rooms for marketing securities. In Albert’s opinion, all those rascals were from the other 49 states.....in his mind no native Floridian has ever broken any law, anywhere, anytime....peace.