Financing in Fresno>Question Details

Joey, Other/Just Looking in Fresno, CA

I am trying to re-fiancing my house, so I found a broker to start the work. She first ordered an appraisal

Asked by Joey, Fresno, CA Tue Jun 30, 2009

for my house. Somehow the application didn't get approved, so I asked for a copy for the appraisal, my broker refuse to provide it. Does she has the right to refuse to send my appraisal report since I've paid for it? Any place I can report to?

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Hi Joey,

I am an appraiser and yes, you are entitled to a copy of the report. HOWEVER, new guidelines came into affect on May 1 of this year which prohibits banks/brokerages from having direct contact with an appraiser. The guidelines also prohibit the ability to transfer an appraisal report to a new lender unless the loan is a non-conventional (FHA) loan. So it is very likely that if your loan application was submitted with that first application you will likely have to come out-of-pocket for another appraisal regardless.

The new guidelines are (in my opinion) completely ridiculous and almost form a non-compete because it reduces your ability to shop for a loan after you have submitted an application and have paid for an appraisal.

Residential Sales and Appraisals
Covering all of San Diego County
0 votes Thank Flag Link Wed Jul 1, 2009
It seems as if you are in the unfortunate situation of getting terrible service, and on behalf of Loan Agents everywhere, I want to apologize to you for that. You mentioned that "somehow the application didn't get approved". You should know exatly why your application did not get approved, and in most cases, that should have been obvious to the broker BEFORE they ordered an appraisal on your behalf and spent your money. As for your appraisal, yes, you have a right to recieve a copy. I agree with the others who have posted...try checking with the manager of the office first. I would also try to find out why your application was not approved. My instinct tells me that your broker failed you in several areas.

Good luck!
Julie Thall
0 votes Thank Flag Link Wed Jul 1, 2009
good of the disclosures you signed at application states that you have a right to recv a copy of the appraisal if you paid for it.......also, there is a time limit for the lender to contact you in writing in regards to why you were denied...if you are currently on an fha loan, you can do a streamline refi that doesn't require an appraisal .best regards.....bob mcclure- success mortgage partners- plymouth, michigan......
0 votes Thank Flag Link Wed Jul 1, 2009

On May 1st, a new law went into effect. Its called HVCC (Home Valuation Code of Conduct) and applies to conventional loans only. If you had the appriasal done after May 1, this law states you should receive a copy of the appraisal within 3 days of the report being completed. With that being said, you should be able to contact her manager for a copy.

If its an FHA loan, you should have received a disclosure stating if you make the request in writing, you have the right to recieve a copy of the appriasal within 30 days. I suggest talking to her manager or contacting the appraiser directly for a copy. If you annoy them enough, they should give you a copy. just keep calling and talking to management.

0 votes Thank Flag Link Wed Jul 1, 2009
Actually, yes, you should have access to the appraisal. Is she licensed through the state? You can look up the license through the link below. I would start my contacting her manager if she has one.....and if she is licensed, the Dept of real estate. Good luck.
0 votes Thank Flag Link Wed Jul 1, 2009
Cindi Hagley, Real Estate Pro in San Ramon, CA
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