Why was I asked to send a PDF of the appraisal?
In most cases, Liberty will accept an appraisal sent in directly by you, however we will condition for a copy received directly from the AMC at the time of underwriting. The file will be accepted at Intake with a PDF copy from you, but a Final Approval will not be issued until the appraisal is received and reviewed from the AMC.
What if I’ve provided the PDF of the appraisal, but the AMC doesn’t send the validation copy right away?
We will still underwrite the file from the PDF you provided; however, you will see an underwriting condition on your Conditional Approval that will ask you to contact your AMC and have them email the validation copy. Your file will not be cleared to close until we have received the appraisal PDF directly from the AMC.
Why hasn’t my file moved into Underwriting even though Liberty has received the validation copy of the appraisal from the AMC?
It is our goal to move files as swiftly as possible into Underwriting. If, however, your file was also missing any minimum requirement documents, it will not be forwarded to Underwriting until those items are received by File Intake. If this is the case, a separate email listing those items would have been sent to you by our File Intake team.
Does this mean an appraisal from a non-preferred AMC is subject to more scrutiny from an underwriter than an appraisal from an AMC that is on the Preferred AMC list?
Our underwriting standards are the same for all appraisals.
How can I streamline things with my AMC?
Many AMCs have a Special Instructions field that you can complete when ordering online. Feel free to let them know they will be asked to forward the appraisal to submissions@libertyreverse.com once the file is submitted. If you ask them to copy you on that email, you’ll know for sure when the appraisal was provided to Liberty.
Once the file is underwritten, what do I do if I have appraisal conditions?
Contact your AMC. They will handle forwarding the conditions needed to the specific appraiser. Make sure to tell them to email the conditions/updated appraisal to underwriting@libertyreverse.com, with a cc to yourself so you will know when the conditions have been provided to Liberty.