Can noncommissioned employees who order appraisals report to the same person as the loan production staff?
No. Section III(B) of the Code prohibits any person who reports to an individual connected to the loan production staff from ordering an appraisal. • Does the Code require an appraisal if the lender was previously not required to complete one or if Freddie Mac does not require an appraisal valuation? (For example, if the value has not declined since the original appraisal was completed on a Freddie Mac-owned Streamlined Refinance Mortgage.) No. Code Section IX states that it shall not be construed to establish new requirements or obligations that require the lender to obtain a property valuation, or use any particular method for property valuation (such as an appraisal or AVM).
