USPAP violation to get on "Appraiser List"

[BlueDog007]

USPAP violation to get on "Appraiser List" ?

I am beside myself at the request of a local bank to provide information to get on their "Approved Appraiser List". I submitted the typical information including resume, E&O, references, and 3 sample appraisal reports. All legal information for the subject property in the sample reports were deleted, as well as the lender/client.

This is the response from the bank:

"He has submitted samples with no addresses on them. Unfortunately, it is impossible to review his work without the addresses on the appraisals. I will hold this information for a short period of time to allow him to provide samples with addresses.

Sorry it took so long to review this. Let me know if you have any questions.

"Ms. Leftfield"
Vice President Mortgage/Loan Operations


My response to the bank:

"The samples provided are typical of what we send to lending institutions. The addresses and any legal information in regards to the subject property are never provided, due to it being against the confidentially law to do so. We have never had a lender to request the actual address of any sample provided."

Today's response from the bank:

"I appreciate the appraiser’s point; However, we must have the addresses on independent appraisals to review this appraiser.
We are actually planning to modify our position and limit the number of new appraisers we are adding”


AM I MISSING SOMETHING??? I CAN'T WAIT TO SEE THE FORUM'S POINT OF VIEW!!!

 

[Elliott]

A local bank usually has a loan officier who gives all their work
to his brother-in-law. They are being polite and letting you
apply. You could give them the addresses and include a statement
that they assume and will indemnify you for any and all lawsuits
which could arise from violations of GLB and USPAP, think of it
as the fine print that comes with your debit card.

 

[Don Clark]

I am beside myself at the request of a local bank to provide information to get on their "Approved Appraiser List". I submitted the typical information including resume, E&O, references, and 3 sample appraisal reports. All legal information for the subject property in the sample reports were deleted, as well as the lender/client.

This is the response from the bank:

"He has submitted samples with no addresses on them. Unfortunately, it is impossible to review his work without the addresses on the appraisals. I will hold this information for a short period of time to allow him to provide samples with addresses.

Sorry it took so long to review this. Let me know if you have any questions.

"Ms. Leftfield"
Vice President Mortgage/Loan Operations


My response to the bank:

"The samples provided are typical of what we send to lending institutions. The addresses and any legal information in regards to the subject property are never provided, due to it being against the confidentially law to do so. We have never had a lender to request the actual address of any sample provided."

Today's response from the bank:

"I appreciate the appraiser’s point; However, we must have the addresses on independent appraisals to review this appraiser.
We are actually planning to modify our position and limit the number of new appraisers we are adding”


AM I MISSING SOMETHING??? I CAN'T WAIT TO SEE THE FORUM'S POINT OF VIEW!!!

Why not go to the second option and get the clients permission to send unredacted copies of the report to the bank? That is an option mentioned on page F-19 in the 2008-2009 USPAP, FAQ #39.

 

[Don Clark]

A local bank usually has a loan officier who gives all their work
to his brother-in-law. They are being polite and letting you
apply. You could give them the addresses and include a statement
that they assume and will indemnify you for any and all lawsuits
which could arise from violations of GLB and USPAP, think of it
as the fine print that comes with your debit card.

That's bad advice Elliott, and a violation of USPAP and the GLB.

 

[Elliott]

Banks have lots of money and good insurance.

 

[Ray Miller]

Banks have lots of money and good insurance.

Like the idea, but the cost of getting there and the bank staying in business to support you the rest of you life may be in question.

Like Mr. Clarks answer a bit better.

 

[BlueDog007]

Don, I agree with getting permission from the original client. It's just the point of the situation and the "REGULATED BANK'S" request. These guys think they can do whatever they want......and here is another statement from them a few minutes ago!!!..............

"I think she needs the property addresses, not the company names (no bearing on the value or property from a review standpoint—and it is private information – we don’t care about that) , so she can run it through her review systems" (I personally got a good chuckle out of the "and it is private information - we don't care about that"...............WHATTTTTT???????? HAHAHAAHHA

 

[Don Clark]

Don, I agree with getting permission from the original client. It's just the point of the situation and the "REGULATED BANK'S" request. These guys think they can do whatever they want......and here is another statement from them a few minutes ago!!!..............

"I think she needs the property addresses, not the company names (no bearing on the value or property from a review standpoint—and it is private information – we don’t care about that) , so she can run it through her review systems" (I personally got a good chuckle out of the "and it is private information - we don't care about that"...............WHATTTTTT???????? HAHAHAAHHA

If it is a regulated bank you can complain to the OCC. Course you will never get on the approved list that way. I have their number if you want it.

CDonClark@cavtel.net

 

[Pamela Crowley (Florida)]

Don, I agree with getting permission from the original client. It's just the point of the situation and the "REGULATED BANK'S" request. These guys think they can do whatever they want......and here is another statement from them a few minutes ago!!!..............

"I think she needs the property addresses, not the company names (no bearing on the value or property from a review standpoint—and it is private information – we don’t care about that) , so she can run it through her review systems" (I personally got a good chuckle out of the "and it is private information - we don't care about that"...............WHATTTTTT???????? HAHAHAAHHA

PLEASE ask them what 'review system' they are using!!!!!!!

 

[Ray Miller]

PLEASE ask them what 'review system' they are using!!!!!!!

Good question.

How many of there loans are approved with there on line review system? :new_2gunsfiring_v1:

Hope your numbers match AVM numbers!