My New Blog

Hit It and Get It
August 23rd, 2007 9:49 AM

I have noticed in these slowing times more and more lenders are loan shopping.  They are sending mass emails out with a property address and a "estimated value" to multiple appraisers usually picked from a national registry.

I received two yesterday alone, both of which stated if the value checks out....this will become an order. 

My advice to appraisers, is to watch out for these unethical lenders, and to remember that even a verbal confirmation is an appraisal, so be careful how you respond!  Don't be suckered into the "Hit-it and Get-it" companies. Typically if they are shopping, it is because they are pushing value. Make sure you have a good E&O policy if you choose deal with them.


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Posted by Stephen Eady on August 23rd, 2007 9:49 AMPost a Comment

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