At CSC we make the appraisal process easy. We provide many options including using your current appraisal for your CSC loan.
- You can order your appraisal through one of our preferred vendors below.
- You can order your appraisal through ANY Appraisal Management Company (AMC) you prefer.
- You can use a previously completed appraisal that was completed in the last 120 days.
- The appraisal does not have to be in CSC’s name.
- You can use a previously created appraisal not completed by an AMC at an additional cost (ask your AE for details).
- TRID Please insure you are NOT collecting any fees for an appraisal or BPO until the "Intent to Proceed" has been acknowledged by the Borrower(s) after receipt of the Loan Estimate. If you have an appraisal from a previous Loan Application and Loan Estimate, please contact your AE.
Things to watch out for:
- Appraisals older than 120 days will need a re-cert of value.
- CSC will not accept appraisals older than 180 days from original completion.
- CSC adheres to all regulatory appraisal compliance statues.
- CSC does not consider broker owned or operated AMC’s to be independent. (BPO costs may be passed onto the broker/borrower)
Broker Price Opinions (BPO):
- CSC reserves the right to order BPO’s on every loan.
- In most cases the BPO will be at a cost to CSC and not passed on to the broker or borrower.
- The BPO can be vital to the valuation process of the loan.
- The BPO gives CSC the most up to date picture of the property’s value, hence this is ordered before loan documents.
- Occasionally BPO’s are waived if CSC is comfortable with the value.
- Borrowers from Minnesota are not permitted to pay for BPO's even if previously disclosed.