In addition to what Randy has stated, which is the real MEAT to this entire discussion, I do want to point out that this statement is false.
The MLO says that it is acceptable that it wouldn't be any concern to anybody who pays for an old appraisal b/c it will not be on anything who is paying for it.
No, it doesn't matter who pays for the appraisal, but it WOULD be reflected on a CD if it ever went that far. The fact remains, you can't shop values so technically, barring a completely inept appraisal worthy of rejection...either the seller will come down on the price OR the buyer will up the downpayment OR the sale will fall through due to value.
My opinion only. Not legal advice.
Say you'll haunt me - Stone Sour