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Lender request

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DHAASP

Thread Starter
Freshman Member
Joined
Apr 26, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
I have a file that was completed in which the lender is asking me to list the owner’s names for my comparable sales. I am not sure if that violated privacy law’s or not, common sense tells me that it does. Has anyone had this request before or know where I can check regarding privacy laws?

Thank you,
 

William K

Senior Member
Joined
Sep 21, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
It sounds like the lender has some question as to whether the owner of record on the sales you used might be involved in the subjects transaction. As it is a matter of public record in Illinois I would have no problem providing this info if requested. I would probably question as to why the additional info is needed but still would provide it as it is public record.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
It sounds like the lender has some question as to whether the owner of record on the sales you used might be involved in the subjects transaction. As it is a matter of public record in Illinois I would have no problem providing this info if requested. I would probably question as to why the additional info is needed but still would provide it as it is public record.

Ditto in California.
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
That information is likely available online from county records so I don't consider that confidential.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I am not sure if that violated privacy law’s or not, common sense tells me that it does.
Thank you,

I'd think it through a little more.
What is confidential about data that is available publicly?

I don't blame you for thinking about potential issues regarding unusual requests- I don't see an issue here myself.

Good luck!
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
I have a file that was completed in which the lender is asking me to list the owner’s names for my comparable sales. I am not sure if that violated privacy law’s or not, common sense tells me that it does. Has anyone had this request before or know where I can check regarding privacy laws?

Thank you,

Do they want the seller's name or the buyer's name?

What a PIA request.
 

Wendy

Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
Maybe they are looking to see if the same buyers and sellers are involved in each sale. I've had the request for the buyer name before on new construction.

No biggie. 5 min. to add an addendum.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
SURcharge works for me. They want the appraiser to double check for investor/speculator activities. There a many fraud rings that if someone did what this UW is asking, the same names would start showing up and the fraud ring would be caught up with.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Due to some Appraisers, & other professionals, having notified lenders of some of the fraud activity & some lenders having gone to fraud classes &/or have been approached about various activities by some of their own LO's there is much more concern in the lenders decisions .

You will see more of the what some call Stupid questions I call them questions of concern. & all their doing is asking for verification which I believe is the Appraisers most important job, Would I charge to do this NO!! Cause I already know it is going to get me repeated business, With very GOOD fees.
 
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