Appraisal Blog

Ordering an appraisal - Don't give us your opinion of value!
October 6th, 2009 6:34 PM

It is amazing that some clients still put estimated values on the appraisal orders. One of the reasons HVCC went into effect and now FHA adopting some of HVCC standards, is to give appraiser's more independence and have greater objectivity in completing assignments.

If you are a financial institution and still doing this, please know that you are not "helping" the appraiser by giving us a value to "shoot for". Let us do our job objectively and ethically. Please let your loan officers know that HVCC and FHA strictly forbids any communication about value or any other aspect of the appraisal with the appraiser. We are now told to report any of these incidents to the respective authorities. This may result in cancellation of the order and in extreme cases an investigation.


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Posted by Rose Sauceda on October 6th, 2009 6:34 PMPost a Comment

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