Transfering appraisal from Lender.

[AC King]

IN QUOTES BELOW IS HUD'S STATMENT THAT THEY ARE A CLIENT IN FHA APPRAISAL ASSIGNMENTS:

"Please see the answer from one of our Senior Housing Specialists. If you
have any questions, please call 1-800-543-9378 Option 3 for Technical
Support Branch.

Forwarded by Julia D. Dooley/HOC/DEN/HUD on 02/12/02 08:25AM
Ronald L.
Collins

To:JuliaD.Dooley/HOC/DEN/HUD@HUD
cc:
02/11/02 02:04 Subject: Re: HUD/FHA
PM
JuliaD.Dooley)

The Direct Endorsement company is an agent for HUD and as such they are in the line of clients. Or we are in the line of clients. The appraiser's
first responsibility is to complete the work as instructed by the lender.
We set the standards to the lender. They would in turn add any additional
standards that they may need to satisfy the people they sell the package
to, which may be more than HUD requires. Uunder no circumstances should it be less than HUD requires.

Julia D. Dooley

To: Ronald L. Collins/HOC/DEN/HUD@HUD

cc: Techsupport Questions/HOC/DEN/HUD@HUD
02/11/02 Subject: HUD/FHA clients?"

 

[mbrunson]

Who cares if HUD is or isn't a client?!?!

By getting a copy of the new case # assignment it is obvious that the lender and HUD are aware of and approve of the change.

SDG

Mike

 

[AC King]

All appraisers should "care" since USPAP requires that the client or clients be named in the appraisal report.

 

[mbrunson]

My point AC, is that in the context of the question the issue is mute.

However, just to prolong the horses agony, USPAP defines "client" as "the party or parties who engage an appraiser (by employment or contract) in a specific assignment." the issue you refer to is: does HUD consider itself a"client", so technically this is not a USPAP question.

SDG

Mike

 

[AC King]

Your point, Mike, is somewhat confusing because you stated "that in the context of the question the issue is mute." Mute typically means the inability to speak, or being dumb. If you meant moot, it means debatable, and that is what I considered was the purpose of this forum.

As to "prolong the horses agony," I am unsure as to what you mean by that. My reply concerning FHA as one of the clients was in response from an earlier reply from another Aspiring Forumite, who asserted that HUD/FHA did not consider itself a client. I felt it would be beneficial to the readers of the Forum to know that HUD did indeed consider itself a client, and should be identified as such in the appraisal report.

Since FHA appraisals must conform to USPAP, everything about the report is governed thereby and naming the client or clients is a requirement. Technically this is an USPAP concern.

 

[mbrunson]

DAMN THAT SPELL CHECK!!!