Here is a *GREAT* 2 min video on how to effectively manage appraisers (without breaching HVCC) that *ALL* loan officers should be providing to their Realtors® for purchases, and the clients directly on refinances! http://www.youtube.com/watch?v=1SjxiTtXFFMI'd transcribe it for the lazy... but its *only* 1:48 long... go watch.Dave DonhoffLeverage Planner
I'd transcribe it for the lazyAllow me to at least summarize:Make sure the appraiser knows the area. If they don't, ask them to have the appraisal re-assigned to someone who does.--Peter
It'd be great to be able to cite chapter and verse of the Dodd-Frank Act so that the AMC isn't relying on what I say but on what's written. Perhaps Mr. Glick can provide that specific information. I'll check it out. Thanks for the link, Dave.
Nobody seems to know where within the Dodd-Frank Act it says that the appraiser must be local. I guess we'll have to rely on hearsay.
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