CitiMortgage has addressed appraiser eligibility with their clientele for all conventional, FHA, and VA transactions. - Pipeline Press Article
[*Appraisal Scoop Note: This article is a couple of months old but I hadn't seen the information discussed in Appraiser media so I thought it might be of value]
Starting New Year's Day [ 1/1/2011* ], Citi will be posting an "Appraiser- Monitor/Ineligible List" instead of an Approved Appraiser List. "Any appraiser not on the Appraiser- Monitor/Ineligible List may be used, subject to the other guidelines for appraisers and their appraisals set forth in the Manual." Appraisers will be grouped into those that will require "monitoring" and be identified on the list with the caption "AMC Field Review Required" (self explanatory), or those appraisers whose appraisals are ineligible for submission to Citi and will be designated on the list with the caption "Appraiser Ineligible" - and will not purchase loans based on appraisals prepared by these appraisers.
"As a website login is required to access the list, customers who wish to provide their vendors with access to the list may do so by sending an email to National Client Services at email@example.com with the contact information and email address of the person requesting access. The vendors will be provided a generic login allowing them restricted website access and not access to any Correspondent or borrower specific information." At this time Citi has approved Finiti, LSI, PCV Murcor, or ServiceLink as appraisal review companies. In addition, Citi is "encouraging" its correspondent clients use the First American CoreLogic Correspondent Validation Program ("CCVP") to validate the value of an appraisal used in a loan transaction.
"CitiMortgage will begin processing all loans, prior to loan purchase, through LoanSafe, the fraud tool provided by First American Corelogic, beginning with closed loan packages received on and after 12/14/09. Correspondents must continue to also submit an acceptable fraud report with a closed loan package."