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#2226410 - 11/27/19 02:40 PM Appraisal Transfer
clinds Offline
Member
Joined: Sep 2017
Posts: 64
We had a loan which started with a different lender whom ordered the appraisal. The borrower decided to go with us at some point in the process and we used the appraisal ordered by the previous lender. The appraisal fee came in higher than what was disclosed on the Loan Estimate, the question I am being asked is who is responsible for the tolerance issue? I believe it is our responsibility but want to confirm.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2226411 - 11/27/19 03:09 PM Re: Appraisal Transfer clinds
B2B Offline
Junior Member
Joined: Nov 2015
Posts: 38
You are

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#2226783 - 12/05/19 06:11 AM Re: Appraisal Transfer clinds
Hawk Offline
Member
Joined: Jan 2019
Posts: 56
If you accepted the loan prior to the appraisal being done and it came out higher than excepted from what was disclosed on your LE, why would anybody but you be responsible. And if you accepted the loan after the appraisal had been done, youre still responsible since you should have already known how much the appraisal was.

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