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#618557 - 09/27/06 03:20 PM Appraiser ?
Rooster Offline
Member
Joined: May 2006
Posts: 50
Can we put an existing borrower who is an appraiser on our approved appraiser list and use the individual as an appraiser?

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#618558 - 09/27/06 03:31 PM Re: Appraiser ?
Passing storm Offline
100 Club
Joined: Aug 2005
Posts: 111
Here and Now
For his own loan? Or in general?
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Don't believe everything you think

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#618559 - 09/27/06 03:37 PM Re: Appraiser ?
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
we have appraisers with credit relationships, would not engage them in a conflict situation, and if memory serves me, we report the credit relationship at exam time (safety and soundness).
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#618560 - 09/27/06 03:40 PM Re: Appraiser ?
Life of Riley Offline
Gold Star
Joined: Sep 2006
Posts: 388
In a pineapple under the sea
Quote:

we have appraisers with credit relationships, would not engage them in a conflict situation, and if memory serves me, we report the credit relationship at exam time (safety and soundness).



We do the same
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Just smile and wave y'all, smile and wave...

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#618561 - 09/27/06 08:00 PM Re: Appraiser ?
Appraiser Lady Offline
100 Club
Joined: Jun 2005
Posts: 198
PA
you are fine as long as you don't give him/her a better (or worse...hahaha) rate because s/he's on your approved appraiser list.

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#618562 - 10/01/06 09:58 PM Re: Appraiser ?
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
The appraiser must be independent with respect to the transaction being appraised. If the appraiser's individual credit relationship with you does not in any way influence the valuation, then using that appraiser should be OK. However, you must be able to demonstrate the independence. Regulators are currently looking very closely at this because of rising rates and dropping home values. So the best practice is to use an appraiser with no connection to the bank.

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