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lender requesting change

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JT1599

Thread Starter
Sophomore Member
Joined
Dec 19, 2007
Professional Status
Certified Residential Appraiser
State
Florida
hello:

the original client is being requested by lender to take off their name and put theirs . Can I get some input in this.
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
There are literally hundreds of posts on this!

NEW CLIENT/NEW APPRAISAL

You CANNOT just change the name!
 

davebram1

Freshman Member
Joined
Jul 17, 2008
Professional Status
Certified Residential Appraiser
State
Florida
Read AO 26 in USPAP. That is all you need.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Absolutely not. They MUST order a new appraisal, period.
Have you discussed this with your supervisor, as in Florida, you as a trainee can only legally accept orders directly from your supervisor.
 
Joined
Jun 3, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
If you change the client name, you have to create a new report -- this can be done by changing the file number and the signing date. Everything else can stay the same.
 

JT1599

Thread Starter
Sophomore Member
Joined
Dec 19, 2007
Professional Status
Certified Residential Appraiser
State
Florida
thank you, I had never had this situation before when the lender requested their name instead of the mortgage comapany...Thank You
 

Cob

Senior Member
Joined
Mar 30, 2006
Professional Status
Certified Residential Appraiser
State
Texas
Ask your sponsor, is he or she not around?
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
If you change the client name, you have to create a new report -- this can be done by changing the file number and the signing date. Everything else can stay the same.

So how are you handling the date of engagement from the new client vs. the effective date of the appraisal?
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
So how are you handling the date of engagement from the new client vs. the effective date of the appraisal?


Ask the new client if they need a new inspection and new effective date. If they do, reinspect and use a new effective date. If they don't, use the prior inspection and effective date with a new report date. But stay in control of the situation. If it's been too long and credibility becomes an issue don't let the new client dictate unacceptable assignment conditions.
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
You can't change the client name. It has to be a "New Assignment." This cannot be done by just changing the file number and the signing date. Absolutely nothing just all "stays the same."

Repeat after me: A different client cannot be substituted for the original client for an assignment already done for the original client. An appraiser can accept a new assignment from a different client.

Webbed.
 
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