Just curious how many community banks are actually charging the borrower for the preparation of an In-House Evaluation/Appraisal? We have never charged the borrower for this in the past, but with the upcoming changes mandating routine delivery we are now considering adding this fee.

And yes, I know that you cannot charge for the copy... but you can charge for the preparation of the evaluation.

We do...keep in mind it will be a part of your origination charges.

But it won't be considered a finance charge.

Lissa - Are those in-house appraisals being done by appraisers who are either licensed or certified as appraisers? If not, will they be licensed or certified by 1/18/14?

We do not charge.

John...won't that only matter if you make HPML's?

You anticipated my comeback if the answer from Lissa is that that one or more of the appraisers aren't licensed or certified. If her institution gets an application that will, if approved, close as an HPML, they'll have to farm the appraisal out.

You guys are awesome! And to answer your question John, our in-house staff are not licensed or certified. Thanks so much!

If the appraisal and the appraisal review is farmed out, how is it recorded on the GFE and HUD-1?.

In Block 3 and 800's.

Thanks RR Joker, but if the apprasial fee & review fee is inclusive and we don't know how much the appraisal portion is, do we list the whole amount in block 801 or 804 on the HUD-1?

Appreciate any help!