Locked files............am I missing something?

[Mike Seward]

Last Friday, I received a call from a client ( major Southeast bank) telling me that a report I had sent on a $1.8 mil home had "too many pages and too many pictures". The caller asked me to re-send the report "unlocked" so they could delete the unwanted pages. I said no, violation of USPAP, etc. He said he would never change anything without telling me. I said "maybe not, but you COULD; the answer is NO." He said most other firms send them unlocked files.

Monday, I received a call from another client (another major southeast bank) asking me to send all future reports unlocked so they could rearrange the order of the pages if needed.....similar conversation, same answer, no. He also said most other firms send unlocked files.

Yesterday, I received a call from a third major southeast bank/client, (this caller is a client that I talk to daily and know well.) She was calling to tell me there was a minor typo in a report I had just sent and said "since you send locked reports, we can't fix it and have to ask you to fix it and resend the report." I said "wait a minute. Do other firms send you unlocked reports?" She called over to her 4-5 co-workers and came back and said I was the only firm that sends locked files.

This was the third call in three days. Am I missing something?

Mike Seward in Tampa.

 

[Pamela Crowley (Florida)]

I think that most appraisers don't know how to lock the file and think that once in PDF format that it is locked.

Continue to say NO. Those of us that know what we are doing need to hold on for the others to catch up.

Most want them unlocked to run through to the AVM database. There is absolutely NO WAY I would send an unlocked file. Try telling them that if ANYTHING is changed that would make this file different than the original you have in your files, THEIR copy becomes VOID. Start putting that on the URAR, somewhere. (is there any way to add another field? 8O )

 

[Wally Jones]

Mike,

As I get a chance today, I'll check with some of our clients. Seems to me that sending a lender an unlocked file would be like letting a child loose in the proverbial candy store. I won't do it.

 

[Pamela Crowley (Florida)]

Mike,

I want to move this to the General Forum but won't do that without your permission. I think all need to see this. Let me know.

 

[Wally Jones]

Mike,

Three clients I spoke with said they seldom see an "unlocked" file and two said they wouldn't know if one was locked or unlocked, they just use the report as is and call me if there's a problem I can address.

Nancy's explanation in the General forum may hold a key. Rest assured, you are not alone in your position.

Regards.

 

[Pamela Crowley (Florida)]

Another lender lie??? Oh, my!!!!