Banking · Appraisal Procedures & Risk Management
When a loan application is received through an agent, what is the heightened risk that the lender must specifically mitigate during the appraisal procedures?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The risk of over-appraisal of the property value by the bank's internal valuer.
- 2The risk of the loan falling short of the required LTV ratio.
- 3The risk of home loan frauds involving document fabrication or misrepresentation by the third-party agent or fraudulent applicant.✓
- 4The risk of the borrower being a minor or a non-resident.
Correct answer
The risk of home loan frauds involving document fabrication or misrepresentation by the third-party agent or fraudulent applicant.
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