Which statement about appraisal independence is CORRECT?
Correct Answer
D) Lenders must have policies to ensure appraisal independence
Under Dodd-Frank Act Section 1472 and related regulations, lenders must establish and maintain policies to ensure appraisal independence. This includes prohibiting improper influence over appraisers and ensuring objective valuations.
Why This Is the Correct Answer
Under Dodd-Frank Act Section 1472 and related regulations, lenders must establish and maintain policies to ensure appraisal independence. This includes prohibiting improper influence over appraisers and ensuring objective valuations.
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