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.
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My opinion only. Not legal advice.
Say you'll haunt me - Stone Sour