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APPRAISAL/ VALUATION TIMING WAIVER Borrowers Name & Current Address:Lenders Name & AddressMichigan Mutual, Inc. Suite 210 100 Galleria Officentre Southfield, MI 48034 Date:Loan NumberSubject.

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Appraisal Delivery Date means the date on which the Applicants obtain the Current Appraisals.

A creditor shall provide a copy of each such appraisal or other written valuation promptly upon completion, or three business days prior to consummation of the transaction (for closed-end credit) or account opening (for open-end credit), whichever is earlier.

Lenders might waive a new in-person appraisal because the home's market value was calculated so recently. The same can be said for refinancing a home. If little time has passed since the original appraisal, a lender may be willing to waive the in-person appraisal when refinancing.

Fannie Mae and Freddie Mac require that the effective date must be the date that the property was inspected. The report date is the date that we prepare and sign the appraisal report and transmit it to the client.

Losing a PIW can delay the closing because you'll now need an appraisal, and run the risk of the property under-appraising. Opting for a PIW will not give you the peace of mind of having a professional appraiser assess the market value of the property.

Waiving an appraisal contingency can be a smart tactic for standing out in an extremely competitive seller's market. Doing so could eliminate a seller's fear that the deal might fall through if the property doesn't appraise for the initial asking price.

For value acceptance (appraisal waiver) to be considered, generally a prior appraisal must be found for the subject property in Fannie Mae's Collateral Underwriter (CU) data. When required, DU will compare the address for the subject property to the property addresses found in CU.

You are more likely to qualify for an appraisal waiver if your loan-to-value ratio is no higher than 80%. You can get to a lower loan-to-value ratio by coming up with a larger down payment when applying for your mortgage. The larger your down payment, the lower your loan-to-value ratio will be.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232