1. T/F - HVCC prohibits REALTORS and lenders from talking to appraisers.
2. T/F - A lender is required to use an appraiser management company (AMC) to get an appraisal.
3. T/F - Lenders are required to choose appraisers from a rotating roster approved by Fannie or Freddie.
4. T/F - The Code applies to all mortgages that require an appraisal.
5. T/F - HVCC requires an appraisal where a lender was previously under no requirement to obtain one.
6. T/F - A mortgage broker may select the appraiser.
7. T/F - A mortgage broker may not transfer an appraisal from one lender to another.
8. T/F - Borrowers must use a credit card upfront to pay fro an appraisal.
9. T/F - A borrower may pay the appraiser directly.
Answers are coming in a minute....
Tuesday, March 2, 2010
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