Appraisal Question

Do any of you accept Appraisals that were completed for other banks? We have an applicant that had an appraisal done about six months ago for another bank on a one year term loan. They are now applying to refinance with us and have asked to use the appraisal. The Appraiser is not on our approved list of Appraisers.

It is a business decision and would have to be addressed in your board approved Appraisal Policy , but the appraisal would need to be assigned to you directly from that other bank.

Thank you for your help.