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Using a readdressed appraisal

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Question: 
We have been notified by the borrower that an appraisal was completed by an appraiser on our approved list recently on their property. Can we contact that appraiser and ask them to readdress the report to our bank?
Answer: 

USPAP and the regulatory guidelines have specific requirements that must be met when engaging an appraiser for services. “Readdressed” reports might be a violation! Tune in to this course for more details.
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Learn more about Eric Collinsworth’s Performing Internal Real Estate Compliance Reviews webinar.

First published on 04/03/2022

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