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Phrases Used By Lenders When Asking For Predetermined Value.

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Charlotte Dixon

Thread Starter
Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
How many ways can they ask? They twist the words to make them sound good.......almost nice, almost legal. Here's the newest one I read, as it was on the way to the trash can:

I would like to order a C.O.D. appraisal on the aforementioned property, however the deal is........VERY VALUE SENSITIVE...... and I need $260K to make the loan deal.

:lol: Wasn't that cute?...."Very Value Sensitive".....

Do any of you have some good ones to offer?
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol: 8O :x :evil:
Damn now I GOTTA clean my screen...

You got me, I'm dying here... and it HAD to be the sweetened tea with cream :roll: sticky keyboard too :roll:

wouldja put a warning on things like this - puh leeeze?

(danger - swallow before reading) is about appropriate :idea: :wink:
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
"INTEREST RATE SENSITIVE" IE: If "I come on low", they will not have as much "equity" and their rate will be higher. :roll: Like I care. 8)
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Answer with something like:

Appraiser very USPAP sensative. (AKA would like to keep license)
 

Steve Owen

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Missouri
How about this one:
If borrower's value seems high, contact me. It may affect the loan program.

No S$%*?
 

Charlotte Dixon

Thread Starter
Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
WE????

<span style='color:red'>We have an "issue oriented" borrower we're trying to plug in to a program. Could you take a look at the market so we'll see how we can all help him out? Unfortunately, time is of the essence because if the interest rates go up another 1/8, we won't be able to help him</span>

Translation: Tell us what the house is worth and if it ain't there, scr-- you.
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
"If this house doesn't appraise out, we won't pay you."
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
"These kids really need to get into this house but, they have a lot of debt and the LTV is sensitive and they are going to have a baby soon and the sellers don't want to fix anything and it's an FHA but they don't have any heat source there are outbuildings that may not pass a termite inspection do we HAVE to mention them?" Oh yeah, they have the only well on the block but they say the water is good.....BTW, we need $XXXXXXXX or we can't do the loan.

And that was just the "tip of the iceberg"........my value "killed the deal" Oh well.........................guess what? The "kids" paid me and put an offer on another house just one block away that was twice the size, in better condition and had public water. Guess who they hired to do the appraisal? Yup........paid twice by the same folks and THANKED! Doesn't happen often.....
 
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