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Appraisal Procedures
Conventional Loans
  
  All conventional appraisals must be ordered in compliance with Sierra Pacific Home Loans, Inc policy and procedures and the Home Valuation Code of Conduct (HVCC).  
   
  The HVCC does not apply to: Loans that are insured or guaranteed by a federal agency, such as FHA and VA loans. Order appraisals for these loans in the usual way.  
       
  How To Order A Conventional Appraisal:  
    Sierra Pacific Home Loans, Inc. is working with LSI to be our initial Appraisal Management Company (AMC) to ensure compliance with HVCC.The basic requirements to ensure compliance with the HVCC are:  
 
  • The broker may not have any interaction or undue influence on the appraiser or the appraisal process.
  • Sierra Pacific Home Loans, Inc. requires the broker to order all conventional appraisals through our approved AMC, LSI at this time.
  • Appraisal will be completed in Sierra Pacific Home Loans, Inc. name.
  • Completed appraisals will be completed in Adobe (.pdf) format.
    • The broker will be sent a copy of the appraisal via email.
    • Sierra Pacific will also send a copy of the appraisal to the borrower via email within the 3-day HVCC requirement.
  
 
Order The Appraisal Here
LSI Login: User Id and Password
  • LSI is working with RealEC. For the login page click here.
  • Enter you User Id and Password.
  • LSI emailed a user id and password to all of our brokers. If you did not receive the email or need help call 559.224.3300 and ask for Customer Support.
 
     
 
 
     
  Other HVCC Resources:  
   
       
 
Q
 Do FHA, VA or USDA appraisals have to be ordered using the AMC appraisal link?
A
 A No. There is no change to the current appraisal process for government or USDA loans.
Q
 How do I sign up to be able to use LSI?
A
  • LSI has supply each currently approved broker with a unique ID and password via email.
  • If you have not received your ID and password from LSI, please contact your Wholesale AE.

Q

 Can the broker simply order an appraisal from the appraisal ordering site to use with any Lender?
A
 No. The appraisal must be completed in the purchasing/funding Lender’s name. When you order an appraisal for a loan to be delivered to Sierra Pacific, you must use the Sierra Pacific LSI link and have an Sierra Pacific Loan Number to order the appraisal.
Q
 What if the broker has to cancel the loan with Sierra Pacific, can the appraisal be transferred to a new Lender?
A
Yes.
  • The broker needs to follow Sierra Pacific procedure to cancel the loan.
  • If the broker or the new Lender contacts LSI directly to request a transfer, LSI will not transfer the appraisal due to confidentiality.
Q
 How do I pay for the appraisal?
A
LSI will accept payment via credit card. Either the borrower’s or the broker’s.
  • When the broker orders the appraisal, credit card information can be entered into secure fields on the Web Site.
  • If the broker does not have the information available, simply do not complete the information. LSI will contact the borrower directly for payment prior to ordering the appraisal.
  • Please do not enter any credit card information into any “comment” or “additional instructions” areas which are not secure for financial information.
  • The appraisal will not be performed until LSI has received payment.
Q
 How does the broker get the appraisal from LSI?
A
  • LSI will make the appraisal available to the broker and the borrower.
  • Upon completion of the appraisal, an email notification will be sent to the broker.
  • A copy of the appraisal will be made available to the borrowers within the requirements of HVCC.
Q
 What if the borrower and the broker feel the value is not correct on the appraisal, or there is some other dispute issue?
A
  • LSI has a dispute process which is managed through the LSI Client Service Team. To see the LSI Welcome document click here.
  • The broker will complete the Appeal Request document and contact the LSI Client Service Team.
Q
 Does the appraisal still have to be underwritten by Sierra Pacific?
  Yes. The underwriting process has not changed.
 
       
 
   
   
   
     
 
 
 
Sierra Pacific Home Loans, Inc. is a Fannie Mae, Freddie Mac, FHA, VA, USDA Rural Development Loans, California Housing Finance Agency, California Public Employees Retirement System Member Home Loan Program, California State Teachers Retirement System Home Loan Program, major banks and other mortgage investors lender.
 
 
 
 
Copyrighted 1994-2008 Sierra Pacific Home Loans, Inc.
7480 North Palm Avenue, Suite 103, Fresno, CA 93711-5729
(888) 478-3727 - (559) 224.3300 - (559) 224-0961 Fax
Real Estate Broker Lic # 00745743, California Dept of Real Estate
Consumer Finance Lender Lic # 607-0373, California Dept. of Corporations