At Citadel Servicing Corperation ("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 AMCs below.
- You can order your appraisal through ANY Appraisal Management Company (AMC) you prefer.
- You can use a previously acquired 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 CSC AE for details).
TRID Please ensure 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 CSC AE.
Things to watch out for:
- Appraisals older than 120 days will need a recertification of value.
- CSC will not accept appraisals older than 180 days from the original completion date.
- CSC adheres to all regulatory appraisal compliance statutes.
- CSC does not consider broker owned or operated AMCs to be independent. (BPO costs may be passed on to the broker/borrower.)
Broker Price Opinions (BPOs):
- CSC reserves the right to order BPOs 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 the BPO requirement is waived if CSC is comfortable with the value.
- Borrowers from Minnesota are not permitted to pay for BPOs even if previously disclosed.
CSC’s Preferred AMCs
Pro Teck - Valuation Services