Devon notices a compliance issue tied to appraisal and valuation requirements and valuation requirements. What is the best next step?
Correct Answer
A) Do not pressure the appraiser to hit a target value
Appraisal handling requires valuation independence and timely valuation copies. The best answer is "Do not pressure the appraiser to hit a target value".
Why This Is the Correct Answer
Appraisal handling requires valuation independence and timely valuation copies. The best answer is "Do not pressure the appraiser to hit a target value".
More Origination Questions
A branch manager asks about a loan file because a processor wants to omit known monthly obligations from underwriting. What should happen?
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An MLO is reviewing procedures for a case where the person preparing the valuation would be paid more if the value is higher. What is the proper handling?
A quality-control reviewer flags a case because the person preparing the valuation would be paid more if the value is higher. What correction is appropriate?
Before closing, the team discovers that a processor wants to omit known monthly obligations from underwriting. What is the safest compliant answer?
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