Appraisal Assignment Letter And Acknowledgement printable pdf download

Appraisal Assignment Letter and Acknowledgement

Borrower(s) Name:

Property Address:

City, State, Zip:

______________________________ (“Transferring Lender”) assigns all right, title and interest in and

to the above referenced appraisal to: __________________________________ (“Receiving Lender”).

Transferring Lender acknowledges that it complies with all Fannie Mae/Freddie Mac Appraiser

Independence Requirements (“AIRs”), the Dodd-Frank Wall Street Reform Act and Consumer

Protection Act.

Transferring Lender has developed and implemented the structure, policies and

procedures required in order to ensure that all residential mortgage loans are in compliance, and that

all appraisals used for those mortgages were obtained in a manner consistent with regulatory

requirements.

Specifically, in addition to the above acknowledgement, regarding this Loan, Transferring Lender

acknowledges adherence to the following:

•

No mortgage broker (“Mortgage Broker”) that originates mortgage loans on behalf of

Transferring Lender and no member of Transferring Lender’s sales or loan production staff, as

well as any other member of Transferring Lender’s staff who is likewise prohibited under AIR

or other regulatory requirements, played any role in selecting, retaining, recommending, or

influencing the selection of an appraiser;

No Mortgage Broker and no member of Transferring Lender’s sales or loan production staff, as

•

well as any other member of Transferring Lender’s staff who is likewise prohibited under AIR

or other regulatory requirements, had any substantive communication with an appraiser or a

designated and authorized appraisal management company (“AMC”) of Transferring Lender

relating to or having an impact on valuation, including ordering the appraisal, managing the

appraisal assignment, or disputing any aspect of an appraisal;

Transferring Lender has not provided a list of approved appraisers or AMCs to a Mortgage

•

Broker or any member of Transferring Lender’s sales or loan production staff, including any

member of Transferring Lender’s staff who is likewise prohibited under the AIR or other

regulatory requirements. Transferring Lender has not allowed a Mortgage Broker to select a

Transferring Lender designated AMC or an appraiser. However, Transferring Lender may have

directed a Mortgage Broker to contact a single AMC, to initiate a request for an appraisal,

provided that Transferring Lender specifically authorized and designated a single AMC to act

on its behalf and not on behalf of the Mortgage Broker;

The appraiser was engaged directly by Transferring Lender through its designated and

•

authorized AMC;

•

Transferring Lender certifies that neither the appraiser nor the AMC have any financial or other

interest in the property or credit transaction;

No Mortgage Broker, borrower, property seller, or real estate agency compensated the

•

appraiser in any manner;

•

Transferring Lender’s name appears on the appraisal as the Transferring Lender/Client;

The appraisal being transferred is the only appraisal ordered by the lender for this

•

transaction.

Appraisal Assignment Letter And Acknowledgement

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