appraisal - Posted by Stacy

Posted by River City on March 21, 2009 at 09:06:48:

The mortgage underwriter has the authority to change the appraised value based on the information in the appraisal report. This decision was more than likely discussed with the appraiser to alert him/her of the change and the reasons for the change. However, that is a rather large change. You might want to discuss it with your loan officer/originator/broker/processor to see why it was reduced.

appraisal - Posted by Stacy

Posted by Stacy on March 20, 2009 at 14:24:41:

We are in the process of refinancing our home. A appraisal came back at $200,000.00, however, when our paper work was to be finalized they lowered the price to $171,000.00. Is this legal?
Thank you Stacy