LTV Comments in Appraisal Reports

To all Members: 

There has been a recent communique sent to appraisers with respect to comments regarding Loan-To-Value Statements/Comments in appraisal reports, particularly in those situations where there has been no interior viewing of the subject property. 

We would like to remind ALL CNAREA Members that comments with respect to LTV are the responsibility of the lenders, NOT the appraisers.  LTV is not an appraisal concept, nor the appraisers’ responsibility. 

Being requested to complete a Market Value Opinion appraisal report is not influenced nor reflective of any LTV discussion.  

CNAREA Members are reminded that there should not be ANY comments pertaining to LTV within your appraisal reports, comments to clients, or their representatives. 

 If you have any questions or concerns, please let me know.  

Rob MacDonald 

DAC-ASA/Certified Appraisal Reviewer