An MLO discovers that an appraisal came in $10,000 below the contract price. The MLO contacts the appraiser to:
Correct Answer
D) Ask for clarification on a factual error in the property description
Under appraisal independence requirements, MLOs can request correction of factual errors but cannot attempt to influence the appraiser's opinion of value. Options A, B, and C constitute prohibited attempts to influence the valuation.
Why This Is the Correct Answer
Under appraisal independence requirements, MLOs can request correction of factual errors but cannot attempt to influence the appraiser's opinion of value. Options A, B, and C constitute prohibited attempts to influence the valuation.
More UST Questions
If a state regulatory authority finds violations during an examination, what factors typically influence the severity of enforcement action?
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An MLO under investigation claims that certain requested documents are protected by attorney-client privilege because they were prepared in consultation with legal counsel. How should the state regulator respond?
Which scenario represents the MOST serious violation of appraisal independence requirements?
An MLO's license is suspended for 6 months, but after 3 months, the MLO demonstrates completion of remedial actions. Can the regulator lift the suspension early?
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Maria passes the national test with 78% but fails the state test with 73%. She then retakes and passes the state test with 76%. What is her status regarding MLO licensing?
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