Owner Wants Copy Of 3 Year Old Appraisal

[KenAZ]

Why? In the end, the borrower will get his hands on a copy anyhow if the OP does that.

There is no need for the OP to be an a**hole just for the sake of being an a**hole.

The OP already caused the borrower to contact the lender by his initial response to the borrower and now the OP needs to to deliver a copy of the appraisal to the borrower as the borrower has caused the lender to address the OP's original objection to providing a copy.

That is what I get for talking on the phone while driving. I typically get calls from other lenders that want a copy of the appraisal and I tell them to get a letter from the original lender. This happens on VA appraisals since the appraisal is good for 6 months, and if the owner changes lenders and tries to get a new appraisal, they have to get a copy of the original.

I just thought that the owner needed to change lenders. Wasn't until I got back and looked it up that I discovered it was a 3 year old appraisal and it was only for the personal use of the borrower. Since I had already told him to get permission from the mortgage company, I was screwed.

I should from now on just tell the person to email me, I will then send a response after reading the email. zI know he is trying to use it to challenge his GLA. I put a disclaimer that it cannot be used for legal or anything other than personal use.

<Crosses Fingers>

 

[Howard Klahr]

I typically get calls from other lenders that want a copy of the appraisal and I tell them to get a letter from the original lender. This happens on VA appraisals since the appraisal is good for 6 months, and if the owner changes lenders and tries to get a new appraisal, they have to get a copy of the original.

This is another area where you are causing your own problems. If the borrower changes lenders, the new lender should be getting the appraisal from the original lender, NOT the appraiser. There is a process for this to occur and it does not involve the appraiser.

 

[BRCJR]

delete

 

[BRCJR]

delete

 

[BRCJR]

Why? In the end, the borrower will get his hands on a copy anyhow if the OP does that.

There is no need for the OP to be an a**hole just for the sake of being an a**hole.

The OP already caused the borrower to contact the lender by his initial response to the borrower and now the OP needs to to deliver a copy of the appraisal to the borrower as the borrower has caused the lender to address the OP's original objection to providing a copy.

I re-read OP and see that the lender already granted permission to provide to borrower.
I agree under that situation to provide to borrower.

 

[GA Benny]

I re-read OP and see that the lender already granted permission to provide to borrower.
I agree under that situation to provide to borrower.

For a VA appraisal, the lender is not authorized to give this permission. Only the VA can give permission for the appraiser to release the appraisal, even a copy to the lender.

 

[Mr Rex]

Daves not here man.

 

[graindart]

Whether VA or not, I provide copies to lender/client only. I don't provide copies to borrowers or anyone else, even with permission from the lender/client. Like someone else mentioned, it's my own company policy.

The reason I don't provide copies to anyone else is because there will most likely be follow-up questions. I don't like slippery slopes and I don't like working for free. You may decide to answer a few basic questions out of the kindness of your heart, but there will inevitably come a time where you realize that you shouldn't answer something or you're wasting too much of your own time.

Provide a copy to the lender/client and let them do whatever they want with it.

 

[BRCJR]

For a VA appraisal, the lender is not authorized to give this permission. Only the VA can give permission for the appraiser to release the appraisal, even a copy to the lender.

So we follow the respective process and provide the Appraisal Report. End of story.....

 

[Don Clark]

For a VA appraisal, the lender is not authorized to give this permission. Only the VA can give permission for the appraiser to release the appraisal, even a copy to the lender.

Not exactly true. A VA appraisal is portable between lenders that are VA approved. Any VA approved lender can use a VA appraisal no matter what lender ordered it. The lender who ordered the appraisal, or the lender who uses it can provide a copy to the veteran. Most state laws require that they do so when requested to do so in writing.