Release of report to Homeowner when client no longer exists

[RSW]

I would think that if a borrower wanted a copy of an appraisal after two years, he was going to go after someone. He may be looking to go after the appraiser. I don't think I would want to be a part of that. We can be sewed for anything these days.

 

[PropertyEconomics]

What is it about being against USPAP that people dont understand? Their reasons dont matter! The lender going out of business doesnt matter!
USPAP SAYS NO!!

 

[Mountain Man]

I wouldn't.
Besides... a 2 year old file in my office is going to be in storage behind a pile of 1 year old boxes. :new_smile-l:

 

[RSW]

My two year old file is setting in the shelf in front of my computer on a DVD.

 

[Fred]

Sincerely,
Ethical Appraiser That Will Find A Way to Do the Right Thing

I dont't see anything ethical about it, nor do I see why it is the right thing.

 

[Jim Kliegl]

Thanks for the replies so far. Some background. Appraisal was performed for AHM. Paid at the door by homeowner. Loan never funded, as homeowner cancelled for some unknown reason. Loan officer got in touch w/ be via email. Obviously working for a new company. The report is fine, in my opinion. But a few of you raise a good point as to "sue happy" homeowners trying to cash in. On what? Who knows?

Anyway....given person ordering the appraisal (client) is making this request now on behalf of a former customer/homeowner (while not working with the company for which it was ordered), I'm curious as to how others would handle this?

 

[Jim Kliegl]

I guess to make a long story short...my question to you all would be:

Is the client the company listed on the report? Or the person ordering on behalf of that company as of the effective date of report?

I'm leaning towards the company/lender/broker is the client, and directing the homeowner to the AHM website to make any requests for information (I smell an OREA complaint here). As you don't know what a person's motives (the person ordering at the time of report) are after they leave a company, get fired, layoff, or company goes bellyup.

 

[PropertyEconomics]

JUST SAY NO ... USPAP FORBIDS IT .....

 

[Fred]

Loan officer got in touch w/ be via email.

Now, you have added a wrinkle. If the LO was the client, then that is the party who can authorize release of confidential results.

 

[PropertyEconomics]

Now, you have added a wrinkle. If the LO was the client, then that is the party who can authorize release of confidential results.

Dollars to doughnuts the LO wasnt the client, but ordered for the client. Who was the appraisal addressed to .. J.Q. Loanofficer ... or XYZ Mortgage/Bank?