Assignment Information

Assignment Information

Assignment Information records what the appraisal is for and who's involved: the borrowers, the client and lender, the AMC, and the appraiser who did the work. Open it from the section list.

Where it comes from

Most of this section comes straight from the appraisal order, which is saved in the report's files. Open Files from the toolbar on the right. Select the order to preview it. It gives us the assignment type and inspection, the order and loan numbers, the lender and the AMC, and the two borrowers. We'll copy each one into the section.

The assignment

Assignment Reason is required. The order says this is a refinance, so choose Refinance. Property Valuation Method is what we actually completed. With an interior and exterior inspection, it's a Traditional Appraisal. We didn't use a property data report in place of an inspection, so No. Government Agency asks whether this is an FHA, VA or USDA appraisal. This isn't a government-agency appraisal, so choose No. Choosing Yes would add that agency's fields throughout the report. Appraiser Fee and AMC Fee are only needed when the state or the client requires them, so we leave them blank.

Version and reference numbers

Appraisal Version number is one, for an original report. The reference IDs print in the report's header. The lender's loan number is the Client Reference ID, and the order number is the AMC Reference ID.

Who's involved

The order lists two borrowers. Select Add Borrower, and enter the first borrower's first, middle and last name. Then select Add Borrower again, and enter the second borrower the same way. A refinance has no seller, so Seller stays empty. The current owners of public record came in from the county's records, and they match the borrowers.

Client and AMC

Under Contact Information, select Add Client. The client here is the lender, so Client Type is Lender. Company Name and Company Address are required for the client. Enter them exactly as the order shows them: Crescent Ridge Mortgage, on Brickell Key Boulevard in Miami. The AMC placed the order, but it isn't the client. Select Add Lender / AMC, Non-Client. Its role starts as Lender, so change it to Appraisal Management Company. Then the AMC's name and address, and its credentials: the license number on the order, issued by Florida. The order doesn't give an expiration date, so we leave Credentials Expires empty.

The appraiser

At least one appraiser is required. Select Add Appraiser, and enter the appraiser's name as it appears on the national registry. Then the company name and the company's address. Both are required for every appraiser on the report, including a supervisory appraiser. Inspection asks how the appraiser inspected the property. Both the exterior and the interior inspections were physical, on the effective date. Then the credentials: the license level, the license number, the state whose credential applies to this assignment, here Florida, and when the license expires. Save as appraiser keeps this profile for your next report, so you can pick it from Saved appraiser instead of typing it again.

Subject Property

The scope of work commentary and the exhibits below are there when the assignment needs more explanation. This one doesn't. That's Assignment Information, with a check mark in the section list. Next, the Subject Property section.