Re-assign prohibition reference

[Lee Lansford]

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

"No problem-o!"

 

[CANative]

Why do we have to get involved in the requirements of the federally regulated institutions appraisal guidelines to know that we can't reassign or readdress an appraisal report?

 

[McMurphy]

Because, like turkey's and other fowl, appraisers are considered the bottom of the food chain; expendable as necessary to meat the value.

 

[bfriendly]

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.

I second that one!

 

[Carnivore]

Ross,

ten four on your advice.

again thanks everyone. Re-addressing is a problem that just does will not go away. I am fed up with being bullied around by lender clients. If I have to play by the rules, then so shall they be required.

The bank in question is "The First National Bank of Shelby"

http://www.ibankatfnb.com/


Frankly I dont have a problem telling the world about errant employees of ANY FDIC Bank. They are as much a part of the problem as skippy.

I dont get any business from the bank. I have tried several times, but they have their Skippy Mill favorites. The only reason I am dealing with them now is because I completed four appraisals for another regulated institution(Federal Credit Union) and the borrower, who I know personally, could not get what he needed on one of the parcels from the FCU so he went over to one of his other banks. The borrower is a prominent surgeon in the Charlotte area.

I suspect the LO wants their regular boy to do this work. Fine, but I dont break rules for anybody.

 

[Maria Burns]

Miss Ethics

While re-assigning an appraisal is not permited, we all use useful information from similar reports previously completed. Should another lender request a new appraisal with the same effective date as the prior one, this report should be able to be completed quickly, efficiently and ethically. Just remember not to discuss the prior lender or report with the new lender, keeping in mind the confidentiality....

 

[Fred]

While re-assigning an appraisal is not permited,

Try to keep in mind that there is no formal defintionso of "re-assigning."

 

[Lee Lansford]

While re-assigning an appraisal is not permited, we all use useful information from similar reports previously completed. Should another lender request a new appraisal with the same effective date as the prior one, this report should be able to be completed quickly, efficiently and ethically...

RE: new assignment using the "old" effective date...

Bear in mind that you want to communicate a "current" appraisal; if not, your assignment becomes a request for a retrospective appraisal.

I admit that there is some "gray" area here as to "current" and retrospective (there was a long string of discussion on this topic in this forum...past month or so?!?) and I don't intend here to re-open the discussion. But, do be careful that in this 2nd assignment (with the "old" effective date) that you don't inadvertently communicate misleading results.

 

[Mike Garrett RAA]

Although I complained about it in the past, I think the VA hit on something when they made the client..."Any VA Approved Lender". It ended all the BS about transferring or re-assigning an appraisal. Wonder how that could work with conventional appraisals?

 

[Fritz in NY]

Your RIGHT Mike Garrett, the VA has an new idea. It has ****ed off many UW, who still call insisting on the Verteran/Borrowers name on the report, but we are appraising a "STRUCTURE, DWELLING, HOUSE, WHATEVER" Not a borrower, that is for the UW.....to "appraise". Great Idea!!!!