This means if they have found an appraiser providing inferior work the lender is not to utilize these appraisers for Fannie loans. Sounds OK, but they only have four appraisers on their list, for the entire United States! It’s a small beginning, but it’s sure to grow as Fannie searches through its database for appraisers who have repeatedly provided inferior work.
On a regular basis SAMCO reviews individual State Appraiser Board Disciplinary Actions. We will now be doing this with Fannie also. In the past some ‘bad apples’ have tainted our profession. But with every passing year, the professionalism of our appraisal industry is growing. It’s great to be part of it.
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