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1.
Liability as to Appraisal Content and Accuracy
The Lender
acknowledges and accepts that any liability for the work
product provided within the appraisal is exclusively that
of the appraiser. Additionally, the Lender agrees to hold
Wisconsin AMS, LLC harmless for any present or future claims
arising from the information in or validity of the
appraisal.
2. Liability Limits as to Referral Services by
Wisconsin AMS, LLC
The Lender acknowledges and accepts that any
liability for the actual referral service provided by
Wisconsin AMS, LLC shall be limited to the amount collected by
Wisconsin AMS, LLC as their referral fee or $1.00, whichever is
greater.
3. Violation of Policy
Wisconsin AMS, LLC
maintains business operations in accordance with Federal
and State agencies and the standards set forth by The
Office of Federal Housing Enterprise Oversight by virtue
of the Home Valuation Code of Conduct.
All parties involved in the transaction
agree to operate within the same
standards and accept any liability caused by their
violation of this policy.
4. Compliance of RESPA Guidelines
The Lender / Broker agrees to stay up to date and follow all
guidelines set forth by the Federal Reserve including, but
not limited to RESPA regulations.
5.
Lender Order Responsibilities
The Lender / Broker is to provide Wisconsin AMS, LLC, either prior to or at the point of
order, with any appraisal underwriting guidelines
particular to their company outside those normally
accepted within the industry.
The Lender acknowledges and agrees that the
completeness of the final appraisal product is dependent
on the accuracy and thoroughness of the information they
have provided to Wisconsin AMS, LLC.
6. Reports of Misconduct
Any claims or representations of misconduct on the
part of the appraiser or lender will be directed to the
appointed authority within the lending institution as
prescribed in the Home Valuation Code of Conduct.
7. Payment
Wisconsin AMS, LLC requires payment in full before dispatching
any order to the assigned appraiser. This can be done by
credit card via the Wisconsin AMS, LLC website or by mail. The
mail form is available on the Wisconsin AMS, LLC web site on
the order now page. Once appraisal has completed,
this fee is non-refundable regardless of loan closing or
not.
8. Cancellations
Orders may be canceled prior to the home visit. Should the
order be canceled within this time the appraisal fee will
be refunded less a $100 cancellation fee. Once the home
visit has taken place the appraisal fee can not be
refunded.
9.
Payment Disputes
If I am a mortgage broker placing an order on
behalf of a borrower,
I understand and agree that if
the borrower protests the payment and wins, I am liable
for it and agree to pay Wisconsin AMS, LLC
for services rendered.
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