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Re: Appraisal ordered before Application

Home Forums Compliance Masters Group (Members Only) Appraisal ordered before Application Re: Appraisal ordered before Application

#2991
rcooper
Keymaster

As long as you don’t charge the customer for the appraisal until after they have received the early disclosures and indicated their intent to proceed then you should be able to charge for the appraisal. I’m not sure this process is beneficial to the bank – if the applicant doesn’t qualify or the applicant chooses not to go through with the loan, then the bank is stuck with the appraisal fee.