Re-assign prohibition reference

[Couch Potato]

What do you want?

See, that is way more than I tell them. I prefer to make it a lot simpler for them :

"Mr. LO, I was sitting here watching a subtitled telenovela and updating my facebook page when you interrpted me to tell me that what I ought to be doing instead is working. So you want me to drop what I'm doing, break some silly rules, AND, since you've determined there is really no work involved int his, NOT pay me. Ummm, no."

Somehow I don't think your response will result in the desired goals, which are maintain a good relationship with the client, protect your integrity and obtain an order for a very easy assignment. :new_smile-l:

 

[Jim Onderisin]

Other posters have already steered you to the source of documentation regarding the USPAP rules not to "reassign" or "readdress" an appraisal.

Others have suggested you do what I would do: let the lender know that what she specifically asks is not allowed, but she can hire you to appraise the property. If the effective date of the previous appraisal is acceptable to her institution, then the work required will be less and you can provide the new appraisal at a discount. Have her send you a new order and be sure you get paid in advance.

 

[Carnivore]

Jim, and others,

I appreciate all of your help and good intentions. I already knew what to do and not do. I was asking if my source was current. I ask this in the urgent section because I wanted to deal with the problem wednesday.

Thanks to all.

 

[Fred]

I am having trouble finding that rule.

USPAP, Definitions: Intended User.

Yes, not a "rule"...but, within the definition.

Lee,
Are you suggesting that the second client was not an intended user at the time of the first appraisal? If so, how could you know that?

Steven S, Thanks for confirming the currency of my first citation.

No problem, Andrew. Every time they publish something, I put it in my FRT file. In fact, since virtually all my reports are PDF's, I no longer list them in the sources section of my report as text, but as hyperlinks.

You might consider that this really isn’t a “standards’ issue. If someone wants to me to “change” a document, no is the answer, even for a document that hasn’t already passed through the federal jurisdiction. Didn’t need no stinin’ appraisal “school” to figure that out.

 

[Michael Tipton]

I'd start with reviewing Section 2232.0.3 Obtaining an Appraisal in the attached file (BHC Supervision Manual dated January 2007).

I have printed Section 2231.0 -Real Estate Appraisals and Evaluations and retain a copy in a notebook I keep by my work station.

http://www.federalreserve.gov/boarddocs/supmanual/bhc/200701/2000p7.pdf

 

[Ross (CO)]

Michael,.....Good shared publication there ! Pages 57 - 84 are very focused on the appraiser/appraisal role and the protocols by which a bank, lender, Fed agency might oversee, scrutinize and "review" an appraisal in a portfolio and the appraiser/evaluator who performed the service and provided that product.

Those pages (57-84) are an interested read....especially when one reflects on the manner in which so many of us may have been engaged for certain assignments by certain "types" of individuals and clients over the years. Add to that the heightened sensitivity of the current market "mess" that we are reading about daily, how many States are tightening their compliance practices, and the litigation nightmare that may yet unfold as bad apples are plucked from the proverbial barrel in the coming years of cleansing. Think too of the NY AG case and the rampant effort of the many networked "managers" of appraisal reports to foster these nutty $35 Desktop reports !

Carnivore,.....a little extra boost for any possible visit you have with that boss of the bank officer discussing with you their re-address issue. See another "re-address" remark on pg. 83 in the right-side column. Really just a repeat of other text you already have (and shared in this thread) yet words that might have that boss give some smack-down to any of his/her bank officers who step out of line and try to browbeat an appraiser.

 

[CANative]

Thanks for the link Michael. Everything needed is right there. I've bookmarked it for future reading.

Note that one section states that the lender is to verify that the appraiser is paid the same fee whether the loan closes or not. I guess those appraisers who offer rebates or reduced fees for loans that don't close are no elegible for FRI appraisals.

 

[Smokehouse]

This is why i LOVE this forum, you ask a fairly straight forward question and in no time a wealth of information comes flying at you. I think I learn more from this site than any appraiser course I have taken.

Why cant we all get together and start a national firm! Talk about ethical appraisers.....I want to be president !

 

[Lee Lansford]

Lee,
Are you suggesting that the second client was not an intended user at the time of the first appraisal? If so, how could you know that?

Nope, wasn't suggesting any such thing.

I was just pointing to the place in the USPAP where information could be found as to when an Intended User is to be identified.

 

[Fred]

Nope, wasn't suggesting any such thing.

I was just pointing to the place in the USPAP where information could be found as to when an Intended User is to be identified.

Sorry for the confusion then. I thought you were answering the question I asked.