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The name in public records & name on order are different

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Larry Lyke

Senior Member
Joined
Feb 2, 2002
The borrower and curent owner not matching is the underwriter's responsibility once it has reached her level.

She can correct it from the paperwork sent to jer with the application or fro the title work she received that the appraiser wouldn't have had access to . Then she can question the appraiser and in the question state why she is questioning the ownership information furnished by the appraiser as incorrect and/or ought to be changed.

This, of course, has all the attributes of getting the informion corrected vy virtue of the underwriter furnished the higher level of correct information. This means the appraiser doesn't have to go back through the LO or process. The advantages are manifest.

It's a very soft-peddle finesse around the loan officer who may be part of a scheme (read scam).

In response to the underwriter's question to the appraiser, the appraiser gets the opportunity to correct the information in an addendum based on information brought up by the underwriter, wherein the appraiser can in one polite sentence or two lay the blame where it belongs.

And it's a self-effacing paper trail vindicating why the appraiser was in the dark.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8)

I get at least one of these a week. We are in a hot sellers market right now. I have been trying to get information on a property since the 5th of this month. Finally received a copy othe contract(lender said we don't do sales, only equity loans but sent the contract anyway :lol: Stated they wanted it "as completed". Met the new owner who just closed on the new loan on 9-9-2002(contract was for that loan). When I arrived at the property I was informed that the appraisal I was supposed to do included interior modifications and a room addittion. Ok, says I. Whre are the plans and specifications for all that :?:

Contractor who also met me thare, and stayed on his Damn cell phone for 15 minutes while we all waited for him to get out of his truck said "I submitted them to the planning department, and they have lost them". Fine says I, call me when you find them. Called the lender, and am now requiring proof of ownership on the recent sale, a trip charge for my wasted time, and a new higher fee to finish the appraisal when I have everything I need. A this rate it may be christmas. :roll:

Received another one last week, same lender, apointment at 11AM today. Owner of record is not owner on order. $800,000. sale. No contract. Same company that does not do sales :roll: Can't wait to see what this one is all about.

What ever name is in the public record goes in the "Owner" block. I will put the name on request in "Borrower" block.

"Just a speed bump on lifes highway"

Don Clark, IFA
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Don --

Here's something I found works pretty good on somebody talking on their cell phone. After a minute or two of waiting, while I or others, ostensibly at the same location to meet with the cell-phone talker:

"Pardon me, sir, these people (me) have come here to meet with you. Please call your party back."

Being polite to rude people is a sign of your inferiority, if you do it twice[i/]. The first time is a sign of your good manners, good breeding, whatever -- or superiority. The cell-talker is announcing his superiority by his body language. Which is easier than demonstrating such through conversation.

Be prepared for unexpected outcomes. Some people are rude. By the time the group has agreed to assemble, we already know each other's ranking [position, job, whatever].

To some people this is an act of superiority that you read about in 'how-you-stand' books and they perform the little number of keeping others waiting at the beginning of every meeting.

Realtors are very good at it -- in interacting with buyers. You have to compartmentalize your buyer and there's a thousand ways to do it. One of the most common is 'we got 2 offers on this property to present tonight!'
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
the owner of record is just that. If the public record says " Bill Jones" I say "Bill Jones". Not my job to track down unrecorded information!
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Ditto Mike Garrett. I don't do title searches.
 
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