Can we issue an approval letter subject to an appraisal report?
We have a client who wants to use a branded hotel as collateral for a loan. The appraiser has indicated this will be a “going concern” appraisal. Is there anything special I need to know about this type of appraisal?
We have been told by our appraisers that an Income Approach is not necessary for any single family dwelling appraisal reports. Is this correct?
Is a USPAP Standard 3 Review required for all our appraisals?
What are the differences between Extraordinary Assumptions and Hypothetical Conditions and what are the requirements for their use?
We have been told that an “As Is” value is required for in-house loans but we have had several of our appraisers argue this requirement and say that USPAP does not require this. Is this a requirement for federally related transactions?
We are involved in a participation loan with another bank and they are ordering the appraisal report. Can we rely on their review or do we need to complete our own review?
In regards to Reg B appraisal notices and commercial loans: does the loan need to be secured by a first lien on a dwelling for the notice requirements to apply or is it any dwelling secured loan - regardless of lien position? For example, an LLC is securing a commercial loan with a 2nd lien on a dwelling, do they get the appraisal notice or not?
Disclosure of Right to Receive copy of Appraisal - under the new rules effective January 18, 2014 does a Zillow Valuation fall under these new rules?
I'm still unclear regarding the effect of the appraisal regulations under Regulation Z on commercial properties. Do the appraiser independence requirements apply to commercial properties?