Used the wrong form now what?

[Reality Check]

What happens if someone uses the URAR 1004 form for private work, but clearly states intention for "Estate Valuation" or "Divorce Proceedings" multiple times in the report and Lender is N/A. I have read earlier threads, just now, that state that this in unacceptable. All information in report is accurate, just used the wrong form. Have other appraisers used the URAR form for private appraisals? Does anyone have any experience using them successfully for private work? FYI I did look for other forms, there are many, but did not think that using a modified URAR was inappropriate. I feel terrible by the way, so please be gentle in your replies. Yes, going forward I will use a general residential form and my next CE class will be related to this topic. Now what?

 

[Zoe]

Wrong form. Your state probably would not like it. The certifications are not right. Intended use and user are not right.

Look at the names on the bottom of the 1004 form. It reads Freddie Mac and Fannie Mae.

@DWiley can probably tell you. He is employee of Freddie.

You could private message him. He will answer you.

 

[Reality Check]

They are not happy...

 

[Reality Check]

Now what?

 

[Tom D]

You are in big trouble with state board if they see it. Just clone it to a general form, if your program has it, resend it. Alamode has it.

 

[Zoe]

You are in big trouble with state board if they see it. Just clone it to a general form, if your program has it, resend it. Alamode has it.

I agree. Be easiest route imho. The certs and limiting conditions are not right.

The general form and different certifications and limiting conditions would have been easier.

Narrative report would have worked also.

 

[CGinMN]

They are not happy...

Who are they and what is the situation? You should offer to your client to put it on the appropriate form.

 

[James Micozzi]

You are in big trouble with state board if they see it. Just clone it to a general form, if your program has it, resend it. Alamode has it.

Okay. provide proof that any board has disciplined an appraiser for using a 1004 for private work. I'll wait.

 

[Zoe]

Okay. provide proof that any board has disciplined an appraiser for using a 1004 for private work. I'll wait.

Different states are different. How many states are you licensed in? 50?

It doesn't matter to a judge and a lawyer in a court of law. The lawyer will say how did you certify to this for the intended use and user?

I'm sorry your honor. I used the wrong form.

 

[James Micozzi]

Different states are different. How many states are you licensed in? 50?

It doesn't matter to a judge and a lawyer in a court of law. The lawyer will say how did you certify to this for the intended use and user?

I'm sorry your honor. I used the wrong form.

again. provide proof that this has ever occurred. My belief is that this is just your opinion, not actual fact that a an appraiser has been disciplined for this.