valuation

appraiser independence

Appraiser independence refers to rules that prevent lenders, agents, borrowers, and others from improperly influencing an appraiser's opinion of value. Federal rules under the Dodd-Frank Act prohibit coercing, bribing, or pressuring appraisers to hit a target value, and require that appraisers be paid customary and reasonable fees. Loan officers and agents may provide factual information, such as comparable sales, but may not demand a specific value.