MB's funder wants their name added as intended user

[Mr Rex]

Couch... I was trying to intimidate them. LOL

Use bigger words and throw in whereas, therefore, and herein a few times

 

[Couch Potato]

End User, Intended User is there really a difference?

 

[CANative]

So what’s the difference between an “end user” and an “intended user?”

If the bank accepts GSE (Fannie/Freddie) appraisal standards then that’s what they have in the appraisal report that I sent to you. If they have guidelines, requirements or standards which are different or exceed GSE requirements then I have to be aware of them. This is why the request must be treated as a new assignment. There is no getting around that and an underwriter should know that. It doesn’t matter if I put the statement in an email, on a letterhead or blow it onto a Kleenex.

Heh! just kidding on the last line. But I should.

 

[CANative]

Wow. The underwriter just called me and the conversation turned very ugly. He said just add them as the end user or they would just get another appraisal. That all appraisers just add them as the intended user or end user. That their investor requires it. I asked if they wanted to be called the end user then what's up with an investor requiring it? He said something about the "agribiz or agribusiness" program?

He was a complete A-hole and was relentlessly trying to bully me into doing what he wanted. No matter that I calmly explained my position.

It's First Northern Bank out of Solano County.

 

[Webbed Feet]

Wow. The underwriter just called me and the conversation turned very ugly. He said just add them as the end user or they would just get another appraisal. That all appraisers just add them as the intended user or end user. That their investor requires it. I asked if they wanted to be called the end user then what's up with an investor requiring it? He said something about the "agribiz or agribusiness" program?

He was a complete A-hole and was relentlessly trying to bully me into doing what he wanted. No matter that I calmly explained my position.

It's First Northern Bank out of Solano County.

Mr. Boyd,

This bank is demanding a USPAP violation in order to try and get all the appraisers E & O on the hook if you ask me. I do not know your relationship with your state board staff, but I would be right on the phone with Oregon's administrator over that one. And probably following up with the state banking and securities division. I might be incorrect, but I think calling a federally regulated institution that just might be demanding intentionally misleading statements on what is to be a federal lending document kinda interests my state's board and banking division.

Webbed.

 

[Kevin Mc]

Wow. The underwriter just called me and the conversation turned very ugly.

What a shock. If they weren't identified as the intended user from the get go I would tell them to pound sand. They are just being anal retentive. There is absolutely no reason why they can't close this loan with this appraisal.

 

[CANative]

The UW mentioned some sort of (agricultural sounding) program and referred to them as an investor. Something to do with notes, servicing, sharing, whatever the F... I couldn't follow it all because I was getting mad and he was doing his tough talk "appraisers should just fall in line" routine.

I'm going to send a written complaint to the President and CEO of the bank, and if I can figure out who their "investor" is I'm going to send them a complaint too.

What's the point of having an appraisal that looks good if what it's portraying didn't really happen?

 

[Webbed Feet]

State Department of Financial Institutions
111 Pine St., Suite 1100
San Francisco, CA 94111-5613
415-263-8555
Toll free: 1-800-622-0620 (CA - Consumer Complaints Against CA State-licensed Banks)
Fax: 415-989-5310
E-mail: consumer@dfi.ca.gov
www.dfi.ca.gov

 

[CANative]

"I've never had an appraiser say no to this request."

I wonder how many loans using this program have appraisals with false certifications?

 

[Webbed Feet]

Tricky answers to stupid statements.

"I've never had an appraiser say no to this request."

Well now that you have asked more than one appraiser, you have.