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Does the Code permit a broker to select an appraiser from the lender’s list of approved appraisers, if the lender is responsible for the relationship with the appraiser, including compensation?
A:
No. The Code prohibits lenders from relying on an appraisal where the broker had a role in selecting, retaining, or compensating the appraiser.
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What is the Future of Real Estate Appraisal Jobs?
A:
The job outlook of real estate appraisal benefits greatly in a rising market where many new homes are being sold, is there more properties to assess. Even in a declining market, homes will still need to be assessed for their lower value. In addition,
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Appraisers and lenders - what is the appraiser's role?
A:
Most appraisals in this country are done for mortgage lenders. Most appraisers work for lenders, particularly if they specialize in appraising homes. The appraiser's role is to provide an objective, unbiased opinion of value to the lender. Appraisers
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Equine Appraisers - where can I find a horse appraiser?
A:
We've searched the internet for a listing of appraisers. Note that we aren't affiliated with, or endorse, anyone on this listing. Click here to see the list.
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When selecting residential appraisers, may loan production staff use a revolving pre-approved appraiser list, provided the list is not under their control?
A:
Yes, loan production staff may use a revolving, board-approved list to select a residential appraiser, provided the development and maintenance of the list is not under their control. Staff responsible for the development and maintenance of the list
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What is a Home Appraisal?
A:
An appraisal is an opinion of market value developed through appropriate research of local market activity and replacement cost analysis. Within the context of a mortgage loan, an appraisal serves to help the lender assess the proposed collateral (su
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What is an appraisal management company?
A:
At first glance, this seems almost self-evident. An appraisal management company is just that, a company that manages appraisal vendors and all of the ordering, tracking, and delivery tasks that need to be attended to within a real estate mortgage tr
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Do appraisers licensed/certified with the Department of Revenue & Regulation, Appraiser Certification Program need to renew their license/certificate?
A:
Yes. Licenses/certificates are renewed yearly. On even numbered years you must submit a renewal application and fee. On odd numbered years you must submit a renewal application, fee and proof of successful completion of required continuing education.
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What is an appraiser?
A:
An appraiser is a real estate professional who specializes in providing opinions of value (appraisals). Most appraisers are real estate appraisers, who specialize in real property. Other appraisers specialize in other types of property, such as gems
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