Transfer short form appraisal to another lender?

[Dan K.]

Hey BP - I'm scheduled to close on a refinance tomorrow  Just a few hours before close of business today, the lender threw me a curveball and gave me a different refinance amount, telling me that I have to bring cash to the closing table to refinance - something I have no interest in doing.  

They also claim that I can't transfer the appraisal to another lender because its a short form appraisal.  

Does anyone have advice on how to do this with another lender without having to pay a new lender for another appraisal?

[Dan Wallace]

That does not make any sense to me. If the appraisal meets the receiving bank's criteria then it should be acceptable. Ultimately it is the receiving bank's decision and not your current lender's decision. I think question 10 in this joint financial institution letter answers this for you.

https://www.fdic.gov/news/news/financial/2005/fil2005a.html