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APPROVED APPRAISER LIST
APPRAISER INELIGIBLE
(or requires additional information)
HURRICANE UPDATE: Below is an updated list of counties
believed to have had risk of structural damage and appraisal requirements
Moncor will require for all appraisals dated on or before 9/12/2008:
Category
1: Final Inspection w/ Photos (Interior &
Exterior) – These are
counties that have been determined to be in the immediate path of the
storm and expected to encounter structurally threatening conditions in
the form of heavy wind and or rain. Moncor require Final Inspection
with Interior & Exterior photos and certification from appraiser the
subject sustained no damage.
Angelina, Austin, Brazoria, Chambers, Cherokee, Fort
Bend, Galveston, Grimes, Hardin, Harris, Houston, Jasper, Jefferson, Liberty, Madison,
Matogorda, Montgomery, Nacogdoches, Newton, Orange, Polk,
Sabine, San Augustine, San Jacinto, Trinity, Tyler, Walker, Waller,
Washington.
FOR
APPRAISALS IN THESE COUNTIES DATED ON OR AFTER 9/15/2008, A FULL 1004 APPRAISAL INCLUDING INTERIOR
PHOTOS WILL BE REQUIRED.
NON-STANDARD
APPRAISALS (i.e. Property Valuation
Update, PIW, 1075, 2055, 2075, 2095) ARE NOT ALLOWED FOR ONE YEAR FROM DISASTER DATE 9-12-2008.
RE-INSPECTION REQUIREMENTS
·
Property
must be re-inspected by the original appraiser or, if not available,
another licensed appraiser. No exceptions.
·
The
appraiser must provide the following commentary/evidence:
Property is free from
damage and the disaster had no affect on
Value or marketability.
·
If the
re-inspection indicates damage, the extent of the damage must be
addressed. Completion of repairs is required as evidenced by Form
1004D/442, Appraisal Update and/or Completion Report, with photos, prior
to Countrywide’s purchase of the loan.
·
The
appraisal must include a minimum of three comparable sales post-disaster.
·
Photos are
provided of interior, exterior, and neighborhood.
·
If borrower
is Employed in an affected area, a verbal verification of employment must
completed verifying the borrower’s employment has not been affected.
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