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#2262491 - 11/15/21 05:49 PM Denial and LTV/Appraisal
JobSecurity Offline
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Joined: Oct 2009
Posts: 579
We have a denial that was based off of the appraisal. The appraisal came back $100,000 less that what was estimated on the LE and the calculations in the loan file. My question is we have the estimated LTV off the estimated loan value in the file (which was much higher at that time). The denial was solely based on the appraised value. We would report the value on the LAR off the appraised value that was lower than anticipated, but we don't have to go back and calculate the LTV again based off the final appraised value do we? Should we?

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#2262524 - 11/15/21 09:36 PM Re: Denial and LTV/Appraisal JobSecurity
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Except for a purchased Covered Loan, if the Financial Institution relied on a CLTV ratio when
making its credit decision, the Financial Institution reports the CLTV ratio on which it relied. (Page 81 in the 2021 GIR)
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2262532 - 11/15/21 10:34 PM Re: Denial and LTV/Appraisal JobSecurity
JobSecurity Offline
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Joined: Oct 2009
Posts: 579
thank you Dan.

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