Appraisers: Sometimes truth is stranger than fiction

Monday, November 11, 2013

Sometimes the truth is stranger than fiction. The following email was forwarded to us by one of our members who wanted reassurance that just saying “no” was the right answer. Boy, was it ever!

This just proves that in spite of all of the reform and new regulations, there is nothing better than money to cloud someone’s judgment. 

Hi XXXXXXX-

Thanks again for the re-cert on this file but I’m coming to you again begging for some help. As you know a re-cert (1004D) was ordered by the processor on this condo but what was actually needed due to the appraisal expiring on 2/28 was a new 1004. My funder who was under the gun to fund this loan due to the lock expiring on 3/6 saw that the value came in where she needed and funded the deal.

Well now according to my contact in our post-closing dept. we may have an unsellable loan which would get that funder in HUGE trouble with management. I know you said you couldn’t back date something as the order needed to come through the AMC but after talking to some people in my appraisal dept. today they told me that our investors and auditors don’t even have access to the LenderX so wouldn’t be able to check the order date on a re-cert.

My funder has really got her butt in trouble over this re-cert date and I told her I’d see what I could do to help her out. We appreciate the work you do for CompanyX and this obviously would be kept on the hush-hush if you could help us out.

Is there any way you could date the attached 1004D Feb 26th? I’ve been in this business for 14 years and this is the first file I’ve ever asked to have this done so I’m sure it won’t happen again. If you could help us out we’d really be grateful.

Sincerely,

XXXXXXX

It’s bad enough to ever ask for this, but it’s 100 times worse to ask for it in an email. If someome is ever irresponsible enough to send you an email like this, or to make the request in another way, just say no.