Appraisal Logistic Solutions, LLC (Appraisal Logistics ...

1 Appraisal Logistic solutions , LLC ( Appraisal Logistics ) appraiser engagement agreement Appraisal REQUEST ACCEPTANCE: By accepting the attached Appraisal Request, you agree to and accept all of the terms and conditions of the Appraisal Request / Assignment and this engagement agreement in its entirety. ACCEPT/DECLINE: You must accept or decline the attached Request within 6 business hours of receipt. If the order is not accepted within 6 business hours, the electronic order will time out and Appraisal Logistics will assign the order to the next appraiser in the rotation.

2 TELEPHONE CALLS: For quality and training purposes, all incoming and outgoing telephone calls between Appraisal Logistics and appraiser , appraiser s Office, appraiser s Staff are subject to recording. ASSIGNED appraiser : This Appraisal Request is intended for the appraiser assigned. It is expected that the appraiser assigned to the Appraisal Request will complete the assignment. The Assigned appraiser may elect to have a colleague complete the Appraisal Assignment if all of the following criteria are met; #1.

3 The reassignment must be approved in writing by Appraisal Logistics . #2. The Assigned appraiser must sign the Appraisal Report as a Supervisory appraiser . #3. The appraiser that completes the Appraisal Report must at a minimum be a State Certified Residential Real Estate appraiser . Appraisal Logistics will not accept Appraisal reports from an appraiser with licensing credential less than a State Certified Residential Real Estate appraiser . appraiser PAYMENT PROCESSING: Appraisal Logistics is committed to timely Appraisal fee processing.

4 We work closely with our Clients to continually process invoices promptly to provide payments within a reasonable timeframe. Our policy is to process and mail Appraisal fees to Appraisers within forty five (45) days of Appraisal Report final Completed status. Where our policy is 45 days, on average, payments are typically mailed within 30 days of final Completed status. Appraisal fees are typically processed and mailed to Appraisers within 16 business hours (48 calendar hours excluding weekends and holidays) of payment receipt from Client.

5 Be advised, an Appraisal Report is not eligible for payment until our ( Appraisal Logistics ) order status is Completed . Orders that have been removed from Completed status ex. Request for Revisions status are also not eligible for payment while in said status. Appraisal FEES / CUSTOMARY AND REASONABLE Appraisal FEES: Appraisal Logistics is committed to the rules and regulations as outlined by the Interagency Regulators, appraiser Independence Requirements and Dodd Frank. We promote Appraisal fee transparency and Customary and Reasonable Appraisal Fees.

6 If you feel the fees for the Appraisal Request are not Customary nor Reasonable, please do not accept the terms of the Appraisal Request. You can reach out to our Processing Department to request a fee increase and reasoning for the requested fee. All fee increase requests are passed on and approved or declined at the Client level. UNDER ALL CIRCUMSTANCES, APPRAISERS AND / OR Appraisal COMPANIES SHALL NOT COLLECT Appraisal FEES DIRECTLY FROM THE BORROWER / HOMEOWNER*. *Per Interagency and Dodd-Frank Guidelines, a Borrower may not pay the appraiser directly for an Appraisal Report.

7 OCC Document; OCC 2005-6, Attachment, #14 - Can a borrower pay the appraiser directly for an Appraisal that is ordered by the lender? Answer: Since the regulated institution has engaged the appraiser for its services, the regulated institution should be the party to remit payment to the appraiser . The regulated institution may seek reimbursement from the borrower for the cost of the Appraisal . However, the borrower may not recommend an appraiser to the institution or select the appraiser . Fannie Mae Document; FM 0309, Q51 - Are borrowers precluded from providing payment for an Appraisal to an AMC?

8 Answer: The Code does not prohibit a borrower from providing payment to an AMC; however, the borrower may not pay the appraiser directly for an Appraisal . Due to the above referenced regulations, all Appraisal fees will be collected by Appraisal Logistics for distribution to the appraiser / Appraisal Company. Be advised, your Client for this Appraisal Request and all Appraisal assignments from Appraisal Logistics is the Lender / Investor (Client). All Appraisal Reports should be in the name of the Client as indicated on the Appraisal Request attached to this agreement .

9 DELIVERY DATE: The completed Appraisal Report shall be delivered / uploaded to the Appraisal Logistics no later than the Due Date as indicated on the Appraisal Request. If you feel that you cannot meet the referenced deadline, please decline the Appraisal Request or contact Appraisal Logistics directly to discuss specific conditions and/or concerns that will have a direct impact on meeting the completion date. The delivery date is set by the Client Representative requesting the Appraisal Report.

10 Missed due dates may be viewed as service failures on the part of the appraiser and a breach of this agreement . Appraisal REPORT DELIVERY: If applicable, All Appraisal Reports are expected to be delivered in XML file format. The Appraisal Logistics web portal will automatically extract the Appraisal PDF from the uploaded XML file. If the requested Appraisal report type is not a UAD/XML supported file type, simply upload the typical PDF version of the requested Appraisal Report. Please do not include your invoice as a schedule or element of the Appraisal Report document file.