I am a broker. Can I add appraisers to a rotation who will complete the orders I send?
No. A broker cannot reach out to Appraisal Nation and request a specific appraiser or a “preferred panel”. Per Appraiser Independence Requirements section IV,
A.…will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any other third party (including Mortgage Brokers and real estate agents).
B. There must be separation of a Seller’s sales or Mortgage production functions and appraisal functions. An employee of the Seller in the sales or Mortgage production function shall have no involvement in the operations of the appraisal function.
(1) Certain parties are prohibited from:
(a) Selecting, retaining, recommending, or influencing the selection of any appraiser for a particular appraisal assignment or for inclusion on a list or panel of appraisers approved or forbidden to perform appraisals for the Seller; and
(b) Having any substantive communications with an appraiser or appraisal management company relating to or having an impact on valuation, including ordering or managing an appraisal assignment.
These parties are:
(i) All members of the Seller’s Mortgage production staff;
(ii) Any person who is compensated on a commission basis upon the successful completion of a Mortgage; and
(iii) Any person whose immediate supervisor is not independent of the Mortgage production staff and process.