Which appraisal requirement is linked to higher-priced loans under the appraisal independence rules?

Which appraisal requirement is linked to higher-priced loans under the appraisal independence rules?

• A. The appraiser must physically visit the interior of the property
• B. The appraiser must use comps from within one mile of the subject
• C. The appraiser must exclude foreclosures from comps
• D. The appraiser must sign the report electronically by a licensed broker

Answer: (A)

The key idea is that for higher-priced mortgage loans, the appraisal independence rules require the appraiser to physically inspect the interior of the property. This interior visit is essential to accurately assess condition and features that affect value, and it helps ensure the appraisal is independent and not influenced by outside parties. The other options describe general appraisal practices or administrative details that are not the specific HPML-linked requirement. So the best answer is the interior inspection of the home.

The key idea is that for higher-priced mortgage loans, the appraisal independence rules require the appraiser to physically inspect the interior of the property. This interior visit is essential to accurately assess condition and features that affect value, and it helps ensure the appraisal is independent and not influenced by outside parties. The other options describe general appraisal practices or administrative details that are not the specific HPML-linked requirement. So the best answer is the interior inspection of the home.