Appraisal Request Letter
A bank “Assignee” may occasionally request the assignment of a real estate appraisal as part of loan evaluation and/or loan underwriting. The assigning bank “Assignor” may have changed underwriting standards, issued a loan denial or is unable to underwrite the loan for a different reason. There are two standard forms to use, a form request and a letter request. Which document to use depends on the comfort level of the requestor.
This document is the letter request and should included the following two items in addition to the required descriptive terms:
- The appraisal being transferred has been ordered under the current Appraiser Independence Requirement (AIR) guidelines and is in accordance with all regulations
applying to the AIR; and
- The transferred appraisal will not be more than 120 days old by the date of closing the subject transaction.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.