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Appraisal Notice

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  • March 12, 2014 at 10:57 am EDT #5591
    jcarter
    Member

    With a loan originating in a business name but using a guarantors personal residence for collateral, who would be the main applicant on signing the Appraisal Disclosure Notice? Would it need to be the name of the business or the guarantors name as the main borrower?

    March 13, 2014 at 12:12 pm EDT #5599
    rcooper
    Member

    From your information, I believe the business is your applicant and the appraisal disclosure would go to it. The appraisal disclosure isn’t required to be signed but you need to have procedures in place that document your process for providing it.

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