Tri-Emerald Financial Group Inc

Tell us Lendplus strives to provide the best in customer service. All lenders request mortgage applicants to have the subject property appraised for collateral on a mortgage loan. The cost of the appraisal is just one condition for loan approval. We rely upon the applicant, who knows the condition...

of the property and the appraiser to accuracy appraise the collateral to cover the risk analysis and scrutiny of loan underwriting. In this instance the appraiser’s judgment was called into play evidenced by the type of rural property and unavailability of price comparables on the subject property. Our underwriters would not approve the loan under these conditions. The appraisal failed to meet FHA minimum property guidelines and standards set forth under HB 4000.1. In fact, we also had the lender review the loan appraisal and they supported the decision as well.  Unfortunately, not all loans get approved and when they are turned down the cost of the appraisal is the applicants. Our long standing policy is to provide the best customer service possible even when the circumstances dictate otherwise. why here...