[Orren Eberhart]

Underwriter has requested another comparable that has sold within the past 3 months. Original appraisal was done 6 months ago. Underwriter wants it added to original appraisal? It appears that the under writer should be informed that an extra comp cannot be added to the original due to inspection dates, sale dates, etc..... and a new report has to be performed.

[CANative]

That's just plain ridiculous.

I'd tell them they need a current appraisal. I would not offer a discount just because of this stupid request.

[xm39hnu]

Did the UW actually make that request, or is the LO telling you that the UW said it? Sounds to me like they're trying to get a current-date appraisal on the cheap. Six months is way past the 4 months Fannie allows. I'd tell'em to put the request in written form over someone's signature, and fax it to you authorizing an appropriate fee for the additional work. I'd charge about $125 for it, but that's just me.

[Orren Eberhart]

Appraiser to supply recertification of value for the originall appraisal value or greater & one comp sold within the last 3 months to support value.

[CANative]

Just as I suspected. They're idiots.

While idiots can't be expected to know the minutae of appraisal lingo and appraiser requirements, they should at least have a clue.

New appraisal. Full fee, less a dscount for not having to remeasure the house.

[Ryan Nyberg]

New appraisal, new inspection, new fee, don't have to remeasure house.

[Bill Baughn]

Originally Posted by Jim Plante

Six months is way past the 4 months Fannie allows.

Mr. Plante,

just out of curiousity, where did you get the documentation for the "4 months Fannie allows"?

[xm39hnu]

Originally Posted by Bill Baughn

Mr. Plante,

just out of curiousity, where did you get the documentation for the "4 months Fannie allows"?

Selling Guide, I believe.

[Carnivore]

Originally Posted by Jim Plante

Selling Guide, I believe.

Yes, thats correct:

http://www.allregs.com/efnma/doc/?dv...xi-ch-2/xi-201

[Otis Key]

XI, 201: Age of Appraisal (or Property Inspection) (06/30/02)
The property must have been appraised (or inspected, if that is the level of property fieldwork recommended for a Desktop Underwriter-processed mortgage) within the 12 months that precede the date of the note and mortgage.
When an appraisal report will be more than four months old on the date of the note and mortgage—regardless of whether the property was appraised as proposed or existing construction—the appraiser must inspect the exterior of the property and review current market data to determine whether the property has declined in value since the date of the original appraisal.

Like Greg and some of the others said, they're looking for a cheap update; new assignment; new fee