Multiple Appraisals of the Subject Property

If the originator wishes to obtain more than one appraisal for a loan due to applicable law, regulation, Homium policy, or otherwise, the underwriter must

• adhere to a policy of selecting the most reliable appraisal rather than the appraisal that states the highest value,

• document the reasons for relying on the appraisal, and

These requirements also apply if the underwriter considers an appraisal to be deficient.

Transferred Appraisals

Homium does not allow for transferred appraisal reports, all appraisal reports must be in Homium’s name and ordered through Homium’s designated AMC. However, at Homium’s discretion an appraisal in a purchase transaction may be accepted if the appraisal meets the requirements of this section.