Compliance – Automated Appraiser Assignment: If we have an automated appraiser assignment (on rotation) through our LOS, can an LO place the order for an appraisal?

Answer: An LO can never ‘order’ the appraisal, even if the system is automated and the LO has no contact with the appraiser.  This breaks down to a technicality and ultimately it would be the responsibility of the lender to make sure appraisal independence requirements are being met.  What makes it technical is the concept […]

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