MB's funder wants their name added as intended user

[CURT VAN HOOSER]

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

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

I wonder IF the comment holds water...

 

[CANative]

Here's the email I recieved at 12:13 today...

Greg - just wanted to let you know that our lender no longer needs you to reassign them as the intended user, apparantly they were able to work around this...

thanks again for all your assistance, and it's very likely that we'll be contacting you soon for another appraisal for this same borrower.

Warmest regards,

 

[Caterina Platt]

Sounds like you've got that old 'soft shoe' that is so necessary at times down pretty well. Good job for retaining the client while sticking by your standards. Hard to do many days, and deserves an 'atta boy'.

 

[Webbed Feet]

More like someone in the MBers' office figured out how to crack the PDF file, add the intended user, and resend the file to look like Mr. Boyd did it.

Webbed.

 

[CANative]

Web... Not these guys. I can smell sleeze over the phone by now. These guys (the MB and his processor) are fair players and decent people.

 

[Webbed Feet]

Web... Not these guys. I can smell sleeze over the phone by now. These guys (the MB and his processor) are fair players and decent people.

Mr. Boyd,

I thought I'd found one of those too. Right up until he disappeared and never paid for the work done on the last order he made.

Then the second one I thought I had found was just wonderful! Right up until I couldn't hit the needed number. He stayed wonderful, just never ordered anything with me ever again.

Those were my last two really decent people that originated loans that I worked for. They smelled just fine over the phone too.

Webbed.

 

[CANative]

Mr. Boyd,

I thought I'd found one of those too. Right up until he disappeared and never paid for the work done on the last order he made.

Then the second one I thought I had found was just wonderful! Right up until I couldn't hit the needed number. He stayed wonderful, just never ordered anything with me ever again.

Those were my last two really decent people that originated loans that I worked for. They smelled just fine over the phone too.

Webbed.

My value opinion was $500,000 less than their "estimated."

I think he's kind of a newbie, not completely, but he seemed very eager to do everything right and never pressured me for anything. This was an extremely complicated loan and a very complicated property.

 

[Mike Boyd]

Pros and cons?

My thoughts: intended users are identified at the beginning of an assignment. Adding a specific intended user might contradict Fannie Mae booja booja.

Do you not add .....or assigns..." in your scope?

 

[Ross (CO)]

So nice that Greg's client's last email seemed to show a soothing of ruffled feathers and that they are all.....o.k. now. That message did not necessarily pave the way to getting more appraisal business from this client working with any lender/investor.......but, just "for this same borrower". Hmmmm. Just how many loans does that borrower do with FNB ?

I think that a cracked PDF and an UNintended amendment to an existing report is worthy of a bit of scrutiny in these technically potent times we live in. They tried desparately to get Greg to do what he never should have entertained. He held, and they failed, and could have likely then picked up the red phone on the wall in the janitor's closet....and contacted their go-to guy for a special favor. You know, that person who they have never met and whose face they could never recognize in a line-up. Look for watermarks.

The opportunity for the "new forms" to have gotten even more things fixed and done correctly, and with less confusion and obfuscation, never did materialize. We still wrestle today with that outcome......and no new version of the Selling Guide to clarify finer internal details. If nothing else, the word arrangement of "Lender/Client" could have re-sequenced to say Client/Lender, instead. Such would allow the appraiser to state both, if different entities, and do so by starting with the name and identity of the party who was their Client and sourced the appraisal assignment.....followed by mentioning next the party stated by that client as being THE Lender........AT THE TIME THE ORIGINAL APPRAISAL ASSIGNMENT WAS GIVEN !