Just making sure

[CURT VAN HOOSER]

Appendix D, pg D-44,

Lender/Client: Enter the name of the lender/client who ordered and will receive the appraisal report. After the client's name add "it's successors or assigns".

 

[CURT VAN HOOSER]

D-8 Intended User: The intended user of this appraisal report is the lender/client and HUD/FHA...

 

[RSW]

Appendix D, pg D-44,

Lender/Client: Enter the name of the lender/client who ordered and will receive the appraisal report. After the client's name add "it's successors or assigns".

Thanks for the info. I've read over the revised appendux d several times and I have never seen that. Must have been halfway reading it. I still don't like using that phrase.

I do a lot of FHA appraisals and I have never had them ask me the add that statement. Guess I am just lucky!

Scott

 

[Mark to market]

Maybe all of you are right.

Scope of work states lender and FHA
Single family 1004 depends on how you read it. It could be just lender/client with mention of FHA elsewhere or lender/client and FHA. (I have been using lender/client & FHA)
Manufactured homes, condos and small income properties definitely states
lender/client, its successors or assigns.


D-8 scope of work intended user is lender/client and FHA

D-15 referring to form 1004,
Enter the name of the lender/client who ordered and will receive the appraisal report. The use of the appraisal is to support FHA’s decision to provide mortgage insurance on the real property that is the subject of the appraisal; therefore, intended users include the lender/client and FHA.
Enter the lender/client’s address.

D-46 referring to manufactured home form 1004C
Enter the name of the lender/client who ordered and will receive the appraisal report
After the client’s name add “its successors or assigns”.
The use of the appraisal is to support FHA’s decision to provide mortgage insurance on the real property that is the subject of the appraisal; therefore, intended users include the lender/client and FHA.
Enter the lender/client’s address

D-81 referring to condo form 1073 state, lender/client, its successors or assigns.
Enter the name of the lender/client who ordered and will receive the appraisal report.
After the client’s name add “its successors or assigns”.
The use of the appraisal is to support FHA’s decision to provide mortgage insurance on the real property that is the subject of the appraisal; therefore, s include the lender/client and FHA.
Enter the lender/client’s address

D-108 referring to small income form 1025
Enter the name of the lender/client who ordered and will receive the appraisal report.
After the client’s name add “its successors or assigns”.
The use of the appraisal is to support FHA’s decision to provide mortgage insurance on the real property that is the subject of the appraisal; therefore, intended users include the lender/client and FHA.
Enter the lender/client’s address

 

[RSW]

Who would have thunk it!

 

[Pamela Crowley (Florida)]

I think that negates your E&O, but would check with your E&O provider about it.