Tom4value
Senior Member
- Joined
- Dec 4, 2016
- Professional Status
- Certified Residential Appraiser
- State
- Massachusetts
I would question why it is even in there. Appraisal waivers are proposed by the lender for borrowers with good credit and/or low LTV. However, the borrower has to agree to the waiver. The lender can offer the waiver but the borrower has every right to have an appraisal anyway. I am no lawyer but I am an appraiser and a former LO and I would say that stip becomes null and void if utilized.