Appraisers responsibility to inform lender if ineligible
Hello! I work for a Mortgage Company, and recently I had an appraiser accept an assignment for a Conventional file which later changed to USDA. He was made aware of the changes in the Mercury order and continued the report. The appraisal came back from him, went to Underwriting and came back with conditions. One of the conditions was for adding the verbiage for "this property meets HUD 4000.1 standards". He ignored us for a week, then finally called me and said he is not approved for USDA making us need to wait another few weeks for a new report to come back from a USDA certified appraiser. My question is, does the appraiser have any sort of responsibilty to inform us sooner that he was ineligible for the assignment? or was it our fault for not confirming he saw the change?
any advice is appreciated! thank you!
Open May 11, 2017 - 06:06 AM
USDA, conventional, file switch, requirements