A report made by a qualified person setting forth an opinion or estimate of value. The term also refers to the process by which this estimate is obtained.
In conventional mortgages and in the HUD-FHA Direct Endorsement Program, the lender receives a copy of the complete report, showing the basis for the appraiser's estimate.
In VA cases and in HUD applications processed by HUD, the lender receives only a statement of the estimate of value, without any detailed supporting data.
visitors since 6/17/2008
Philip Bonafiglia Heritage Realty Ph: 856-817-1220 - Fax: 856-817-1224
238 Taunton Blvd., Suite 4B
Medford, NJ 08055 www.heritagerealtysj.com
