The appraisal process

Under the new RESPA guidelines, appraisals are can be ordered only after the intial audit is completed.

They are now lender specific and ordered through an Appraisal Management Company. This company in turn uses licensed local appraisal on a rotation basis. The Home Valuation Conduct Code (HVCC) prevents any loan broker from directly contacting an appraiser or influencing the value in any manner. However, you can provide any relevent info such as upgrades, market comparable etc. to the appraiser.