Borrower
Original Loan Date
Original Loan Amount
Current Loan Balance
Last Appraisal Amount
Appraiser
Last Appraisal Date
Officer Responsible
Is an acceptable appraisal (passed our review and dated less than one year old) in file? ( ) YES ( ) NO If yes, a new appraisal is NOT required unless there has been a significant change in market conditions within past 12 months.
Has borrower performed satisfactorily according to the
original terms? ( ) YES ( ) NO
If answer is “no”, a new appraisal WILL be required. Please explain
Is any new money being advanced other than as agreed to under
original transaction? ( ) YES ( ) NO
If answer is “yes”, a new appraisal WILL be required.
Please
explain
Has the credit standing of the borrower
deteriorated?
( ) YES ( ) NO
If ‘yes”, a new appraisal WILL be required. If “no”, is new, updated
financial and credit information on the borrower in file to support this answer?
Please
explain
Has there been an obvious and material deterioration in
market conditions or physical aspects of the property which would threaten
collateral protection?
( ) YES (
)NO If “yes’, a new appraisal WILL be required.
Please
explain
Is there any reason to believe the appraisal in file does NOT
reflect a current market value estimate? ( ) YES
( ) NO If “yes”, Please
explain
Officer
Signature
Date: