We are 100 percent compliant with Appraisal Independence and HUD Requirements for FHA Appraisal Independence. Our appraisers are state certified and have their own errors and omissions insurance. We work with professional and competent appraisers with years of experience. Our appraisers have 24 hours to accept the order and we expect the report to be returned in a reasonable amount of time. If there is any difference between the fee quoted for an appraisal and the actual fee, we will contact you prior to proceeding with the order.
As an originating company, you must comply wholly with all aspects of Appraisal Independence, including but not limited to:
• No indication of value on refinance transactions may ever be made. Please do not place this information on your orders.
• You may not choose a specific appraiser for a specific assignment.
REMINDERS:
*We always want to improve our service, and we believe that begins with communication. On that note, we wanted to advise you that orders placed via the Mercury Xsite October 1, 2011 and later, will incur Crescent's appraisal administrative fee of $75. You will need to disclose this fee in Box 1 of your GFE and include it as part of your itemized fee sheet as "appraisal admin fee." The remainder of the appraisal fee goes in Box 3 of your GFE.
*In order to comply with MDIA and RESPA guidelines, you are required to provide your borrower with Crescent Mortgage's Early TIL as well as your prepared GFE "PRIOR" to ordering the appraisal. No fees other than that of a credit report may be collected prior to the borrower's receipt of these disclosures and the borrower expressing intent to proceed. If you are Brokering a loan to Crescent, you must upload a copy of the Mortgage Broker Fee Agreement signed by the borrower to your apprasial request. Failure to comply with this requirement will delay your order.
As the market becomes more and more complex, Crescent Mortgage Company always tries to exceed our customers' expectations by offering superior customer service and communication. We also understand that service is the number one reason a client comes, goes, repeats or refers your company to others.
Thank you for choosing Crescent Mortgage Company.
Crescent Mortgage Company 5901 Peachtree Dunwoody Road NE, Building C, Suite 250 Atlanta, Georgia 30328
