Why does it seem almost inevitable that an adversarial relationship should develop between an appraiser and an underwriter? It is unfortunate that these two participants in the business of residential mortgages cannot understand that they are working toward a common goal. They are both striving to determine an accurate representation of the collateral value. However, the underwriter must also reconcile this value with many other factors, of which the appraiser is not aware.

The typical confrontation often unfolds as follows: After a long day of property inspections, research, and photo-taking, the appraiser returns to his office only to find a note sitting on the desk. The message asks the appraiser to call so-and-so at XYZ Lender. There is also a reference to a particular property address, recently appraised.

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