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.