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#1916896 - 04/23/14 06:14 PM Appraiser Removal Letter
Carol Hopper Offline
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Carol Hopper
Joined: Jul 2008
Posts: 96
Central Missouri
One of our secondary market investors is requesting a sample of the letter we would send to an appraiser stating they are being removed from our list of board approved appraisers. Does anyone have such a letter they would be willing to share? If not, does anyone have a list of what the content of that letter would be. I know for a while there was discussion concerning reporting an appraiser you would remove. Would that be included in the letter?
Last edited by Gr8Hoppers; 04/23/14 06:15 PM.
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#1917940 - 04/27/14 12:11 PM Re: Appraiser Removal Letter Carol Hopper
rlcarey Online
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rlcarey
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Galveston, TX
Why would you send such a letter? You just quit using them.
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#1918035 - 04/28/14 03:21 PM Re: Appraiser Removal Letter Carol Hopper
Carol Hopper Offline
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Carol Hopper
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Central Missouri
Our investors are requiring it. I believe it is a HUD item now.
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#1918041 - 04/28/14 03:28 PM Re: Appraiser Removal Letter Carol Hopper
Truffle Royale Offline

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Originally Posted By: Gr8Hoppers
Our investors are requiring it. I believe it is a HUD item now.
??? What do you mean by 'it's a HUD item now'?

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#1918090 - 04/28/14 04:59 PM Re: Appraiser Removal Letter Carol Hopper
ForceFull1 Offline
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smalltown Iowa
Originally Posted By: Gr8Hoppers
Our investors are requiring it. I believe it is a HUD item now.


I am wondering if your investors' requirement is a lingering hangover from the old Home Valuation Code of Conduct (HVCC). If memory serves, the HVCC required several items such as the lender's grievances with the appraiser's work to be included in the removal notice letter.
Since the HVCC was replaced with the Appraisal Independence Requirements (AIR) those specific notification requirements no longer exist as far as I can tell.
https://www.fanniemae.com/content/fact_sheet/appraiser-independence-requirements.pdf
I'd question your investors on why they want to see the letter and what they want to see in it.

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#2228088 - 12/30/19 10:03 PM Re: Appraiser Removal Letter Carol Hopper
ComplyCycle Offline
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ComplyCycle
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Have there been any changes to these rules that now require a letter be provided to the appraiser once we decide to quit using that particular individual? An appraiser is demanding that we provide a letter stating the specific reasons that led us to quit using that individual. I am not aware of any termination letter requirement and am curious if others have additional detail since this thread was created.

Thank you.

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#2228089 - 12/30/19 11:01 PM Re: Appraiser Removal Letter Carol Hopper
rlcarey Online
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Galveston, TX
Ignore them, you can use whoever you want to.
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#2228092 - 12/31/19 01:54 PM Re: Appraiser Removal Letter Carol Hopper
ComplyCycle Offline
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That's what I thought - thanks for the quick confirmation.

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