Just making sure

[Billy Tsanakaliotis]

Just finishing up my first FHA manufactured home appraisal. Boy was it a beauty I should have charged a lot more. I just wanted to verify that on the Client/lender line I put on the name of the client and “its successors and assigns”. I have read the protocols diligently I just wanted to make sure that I did not miss anything in any of the mortgagee letters

TIA

 

[Midwest Guy]

Client name alone is sufficient.

FNMA Certification 23 should take care of the MB's upline.

 

[RSW]

Don't forget to add HUD/FHA as an intended user in you comments somewhere in the report.

 

[Billy Tsanakaliotis]

Thanks RSW, I remembered that from my FHA guidelines class.

 

[Pamela Crowley (Florida)]

Just finishing up my first FHA manufactured home appraisal. Boy was it a beauty I should have charged a lot more. I just wanted to verify that on the Client/lender line I put on the name of the client and “its successors and assigns”. I have read the protocols diligently I just wanted to make sure that I did not miss anything in any of the mortgagee letters

TIA

Do you have E&O? If so, I think they will not cover you if you add that little phrase “its successors and assigns”. Better check with them.

 

[RSW]

Do you have E&O? If so, I think they will not cover you if you add that little phrase “its successors and assigns”. Better check with them.

I wouldn't use that phrase either. Opens you up to many intended users.

 

[CANative]

Client/HUD/Assigns...

It's in the book. Well the appendix.

If you disagree then stop whining about brokers who call you up and say they need an FHA appraisal of a property you did last week to be put in their name.

 

[CURT VAN HOOSER]

Ditto what Greg said...

 

[RSW]

In Addendix D page D-8 dated 1/06 is reads:

Intended User The intended user of this appraisal report is the lender/client and HUD/FHA.

No mention of assigns.

 

[Jo Ann Meyer Stratton]

Only the client's name goes in the Lender/Client box--however somewhere in your Scope of Work or addendum or Expanded Comment Section or directly on the 1004 in one of the boxes below Subject section have a sentence similar to what follows: "Objective of this assignment is to assist the client named above in evaluating the subject property as collateral for a mortgage lending decision and FHA's decision to provide mortgage insurance"

FHA is an intended user but not named in the Lender/Client box.