My New Blog

August 23rd, 2007 9:49 AM

I have noticed in these slowing times more and more lenders are loan shopping.  They are sending mass emails out with a property address and a "estimated value" to multiple appraisers usually picked from a national registry.

I received two yesterday alone, both of which stated if the value checks out....this will become an order. 

My advice to appraisers, is to watch out for these unethical lenders, and to remember that even a verbal confirmation is an appraisal, so be careful how you respond!  Don't be suckered into the "Hit-it and Get-it" companies. Typically if they are shopping, it is because they are pushing value. Make sure you have a good E&O policy if you choose deal with them.


Posted by Stephen Eady on August 23rd, 2007 9:49 AMPost a Comment (0)

Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Eady & Associates llc. 1303 Hixson Pike Suite A Chattanooga, TN 37405
Phone: Fax:

Contact Us | Important Links | Company Docs | Report unethical practices | Client Login | Order an Appraisal | Why Get | Services | Home | Rent vs Buy Calc | Refi Breakeven Calc | Faster Appraisals | RAA Designation

Copyright © 2012 Eady & Associates llc.
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map