Posted by Gilda Murray on 3/9/13 2:40pm
Msg #460280

Appraisal packet included in my signing docs.

Hello Notary Family I just have a topic for discussion when you have a moment. I received my docs recently with a 40 page appraisal packet included "which totaled the pages to be 175 one set". I called the Title company and informed them I do not print appraisal packets. This appraiser was paid $500.00 which was indicated on one of the documents I reviewed. I'm not doing their job. They should send this information out themselves to the borrower. The title company did not object to my opinion and told me ok. Have any of you come across this issue lately?
Appreciate your input and have a nice weekend.

Reply by 101livescan on 3/9/13 2:47pm
Msg #460282

We all are in the same choir on this one.

Reply by Luckydog on 3/9/13 2:47pm
Msg #460283

I do not print them either. First I call the buyer...99% of the time, they have it already. If not and they need it, I call title, cost them $10.00 extra and will print buyers only. It is stupid we have to do the appraiser's job when they collect 5x as much and can email it to them. We look like chumps if we start doing this on a regular basis.

Reply by sigtogo/OR on 3/9/13 3:04pm
Msg #460286

just to clarify, the appraiser is hired by the lender so

appraisal is delivered to the lender. it is the lenders job, not the appraisers, to forward to the borrower. regardless tho, I would not make copies without compensation either.

Reply by NJDiva on 3/9/13 3:22pm
Msg #460291

I'm singing in Chery'ls choir...lucky for you, I have a good

voice...lol

Seriously though, I agree with contacting title and either quoting them an additional print fee or declining printing them all together. 135pg packet, without the appraisal, even constitutes an additional print fee anyway as far as I'm concerned. What's scary though, is that 130-135 pg packages seem to be happening more and more now.

Reply by Gilda Murray on 3/9/13 3:34pm
Msg #460294

Re: just to clarify, the appraiser is hired by the lender so

Thanks, I appreciate the clarification Either way, I'm sure they can accomplish the issues without my assistance.

Reply by MW/VA on 3/9/13 4:03pm
Msg #460300

I'm hearing from the borrowers that the appraisal reports

are being emailed to them. I haven't seen any included in the pkgs. to be printed. No, I wouldn't print those without an extra fee to cover that.

Reply by Marazz/AZ on 3/9/13 5:12pm
Msg #460309

Re: I'm hearing from the borrowers that the appraisal reports

Sigtogo has it right, the lender is the appraiser's client, not the borrower. The appraiser has a confidential relationship with the lender that prevents them from even discussing the appraisal with the homeowner (unless authorized in writing). The lender is responsible for providing a copy to the homeowner. If they are asking the notary to print it I agree that asking for an additional fee is the correct thing.

And, FWIW, since HVCC most lenders are farming out appraisals through AMCs which take half of the appraisal fee. There are exceptions of course but I'd be surprised if the appraiser got the whole $500. Appraising was never easy but since the markets went nuts it's not hardly worth it at all, considering the liability and that you can be sued for years and years. Statutes of limitations hardly ever apply like you think they would.

Recently over on an appraisers board they were complaining about how much the notaries make as compared to them lol. Fee pressure is being felt all around and all you can do is stand your ground when someone is making a request that's out of the norm.

Reply by Buddy Young on 3/9/13 8:37pm
Msg #460339

I recieved one a while back that had appraisal docs in it. I didn't realize it until I printed the first copy. I called SS and told them I don't print appraisal docs and they offerd me an extra $25 to just print 1 copy and I accepted.