Switching from FHA to conventional

[Zoe]

I still have a report out there that was concurrent with different intended user and this is different assignment.

It is okay lender. You don't have to use me for this new assignment and My SOW. That is fine.

Now, make sure you pay me for services performed on previous assignment for you. Okay?

 

[RSW]

I understand Sir. Makes no difference on my decision for new assignment and me set SOW.

I have got the whole nine yards. I understand retrospective, client and prospective and concurrent.

It is new assignment to me. Period.

The lender has other options than me. That is fine with me.

I was just pointing out your misinformation. You being a VA appraiser should know that.

 

[Zoe]

I was just pointing out your misinformation. You being a VA appraiser should know that.

I have already explained I understand very well FHA is not included on client line. I understand FHA is only intended user. I am old school enough to remember when FHA had their own appraisal panel.

New assignment to me. Many appraisers on here had shared the same position I have. New Assignment.

 

[Zoe]

I am not worried about calling FHA and saying lender wants me to convert to conventional. My position is still the same. New assignment.

The problem lender will likely have it is no longer concurrent value opinion. It is now retrospective value appraisal unless I go back to subject. Fannie don't want a retrospective appraisal.

I have already completed an appraisal conforming to FHA standards. My report has been submitted. This a new assignment to me.

The slate is wiped clean. This is a new assignment or lender can go somewhere else. I think I have made that clear.

 

[Dale Floyd]

Doesn't matter to me. Your missing the point to my client. My client has suddenly shifted liabilities on them vs FHA. I set SOW.

Let my client file a complaint on me for contacting FHA. Let's see how far that flies.

New assignment to me period. Go hire someone else than me. Fine with me.

If I were still at the bank, and an appraiser went around me and called FHA pertaining to a mortgage change I’m making, it would be a very bad day for the appraiser. The lender is working on the behalf of their borrower/client as a fiduciary. As a non-fiduciary, you provide independence in your service to the lender/client, not the borrower.

Scope of Work statements won’t save you in that instance. Anyway - Moving on.

 

[sputnam]

Wow, some really dumb thoughts here. New assignment of the same house 2 weeks later. So what has changed on the appraisal besides the new date and i did a previous appraisal on it. My clients are direct lenders, forever. At most i would take new pictures of the outside. If you want to go back inside, that's your decision. And i would do it at a discount since it's mostly cloned. 1/2 price discount, and maybe get a new good client.

Some of you dopes don't understand lending. I guarantee the the lender never sent that FHA appraisal thru the HUD portal. So HUD has never seen it. As soon as the lender saw the value they decided to go conv. i wonder if they are going to change to a new higher sale price now.

You might want to reread the OP. It was a conversion request. Same effective date, same property, same Client, same Intended Use... lending. The appraiser is not responsible for making sure that the Lender follows all the rules. The appraiser is responsible for following appraiser rules.

 

[Tom D]

Seeing your point that the lender hasn't changed then you are right.

 

[Dale Floyd]

You might want to reread the OP. It was a conversion request. Same effective date, same property, same Client, same Intended Use... lending. The appraiser is not responsible for making sure that the Lender follows all the rules. The appraiser is responsible for following appraiser rules.

Certifications and intended use are different. Scope of work is different. There is no such thing as an appraisal conversion within the guidelines governing us at the present. Perhaps there should be.

 

[JTip]

The effective date cannot be in the past UNLESS you are completing a retrospective appraisal.

It will be a retrospective appraisal because the new assignment is ordered AFTER the original inspection date.

Give ME the lender's phone number, $50 and I will fix this for you.

 

[djd09]

Until the mortgage is closed, neither FHA or anybody outside the client, has any skin in the game.

yeah tell that to marin city...