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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Interagency (Reg Z) and CFPB Reg B Appraisal Rules Appraisal PIW
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#2267507 - 03/11/22 03:01 PM Appraisal PIW
parker1989 Offline
New Poster
Joined: Jan 2022
Posts: 1
If a loan became ineligible for a PIW just before closing and an appraisal was not ordered, can a new appraisal be ordered after closing?

Thanks in advance.

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Interagency (Reg Z) and CFPB Reg B Appraisal Rules
#2267513 - 03/11/22 03:55 PM Re: Appraisal PIW parker1989
Adam Witmer Offline
Power Poster
Joined: Sep 2010
Posts: 2,662
Great question. Unfortunately, this is a question for your investor as it the PIW (or lack of) is part of their requirements.
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Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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#2267516 - 03/11/22 04:00 PM Re: Appraisal PIW parker1989
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
There is not an investor in the world that would accept an appraisal completed after the fact. Plus, that would make the appraisal fee a finance charge.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2267517 - 03/11/22 04:06 PM Re: Appraisal PIW parker1989
Adam Witmer Offline
Power Poster
Joined: Sep 2010
Posts: 2,662
Exactly.
_________________________
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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#2267645 - 03/15/22 01:39 PM Re: Appraisal PIW parker1989
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Welcome to BOL's Discussion Forums, Parker1989, and congratulations on your first post.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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