Can loan originators engage an appraiser?

Lenders are not allowed to initiate dialogue with an appraiser at any time or discuss appraisal after receipt of report. during the assignment, the appraisal department must be aware in advance of all communication between the loan officer and the appraiser.

Can you be a real estate agent and loan officer at the same time in Florida?

You can certainly do both, given your state and lender programs allow it along with providing the required disclosures to ensure you are in compliance with regulations. In states like California and Florida, for example, many real estate agents are also licensed mortgage loan officers.

What is acceptable between lender and appraiser?

Yes. A lender may accept an appraisal transfer from a different lender. However, the lender delivering the loan to Freddie Mac makes all representations and warranties that the loan complies with the requirements of the Guide and related documents. Lender A must be named as client on the appraisal report.

Can appraisers talk to borrowers?

3. Can I speak to the appraiser? Yes! Regulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract.

Can a MLO be an independent contractor?

—An individual may not act as a loan originator unless he or she is an employee of, or an independent contractor for, a mortgage broker or a mortgage lender, and may not be employed by or contract with more than one mortgage broker or mortgage lender, or either simultaneously.” Emphasis added.

Can a MLO do his own loan?

Can the MLO use their federally registered MLO status to originate loans for their own non-federally regulated mortgage company? No! The SAFE Act exempts a federally registered MLO from state MLO licensing requirements only if the MLO is an employee of a federally regulated bank.

Can an appraisal be assigned to another lender?

Yes. A lender may accept an appraisal transfer from a different lender.

Can an appraisal be used twice?

Use of an Appraisal for a Subsequent Transaction Fannie Mae will allow the use of an origination appraisal for a subsequent transaction if the following requirements are met: The borrower and the lender/client must be the same on the original and subsequent transaction.