103: Refusal to Accept Certain Appraisals

From time to time, we may refuse to accept appraisals prepared by specific appraisers or we may notify a lender that we will no longer accept appraisals prepared by a given appraiser.  When we notify a lender that we will no longer accept appraisals from a particular appraiser, we will allow the lender a certain amount of time to clear its mortgage pipeline.  After that, it must not submit to us any mortgages secured by properties appraised by that individual.

We may also refer unacceptable appraisal reports to the appropriate state appraiser licensing or regulatory boards for investigation and action.  Our decision to make such referrals does not affect the lender's responsibility for managing the property valuation and appraisal review process.