Appraisal Policy and AMC Panel
LendSure has a list of approved Appraisal Management Companies (AMCs) for use in connection with all loan transactions, unless the broker already has an appraisal from another AMC acceptable to LendSure.
It is the responsibility of the broker to:
- Order the appraisal from the list of approved AMCs
- Arrange for payment for the appraisal
- Deliver the appraisal (PDF format only, no scans) and the invoice for the appraisal to LendSure Mortgage Corp.
Most appraisals are completed within 5-7 business days. LendSure will usually order an external appraisal review from a third-party appraisal review firm. The appraisal review is ordered immediately upon the receipt of the appraisal and takes 24-48 hours to complete.
If a broker has previously ordered an appraisal from an unapproved AMC, LendSure may accept the appraisal if it meets Underwriting Management’s approval. Appraisals received from unapproved AMCs will require the same external third-party appraisal review described above.
LendSure will not accept appraisals that have not been ordered through an AMC.
Age of Appraisal
The appraisal report must be completed within 120 days prior to closing. A new appraisal is required if the original appraisal is aged beyond this time frame. A recertification of value is not acceptable.