The approved appraiser list is a listing of real estate and personal property appraisers who have met the criteria of the lenders.

Most lenders follow a list of approved appraisers that have met their criteria. This is somewhat a risk management approach by lender to prevent appraisal fraud.

Several other lenders that don't maintain a list of approved appraisers, do maintain a list of red flagged appraisers. These are appraisers that the lender will not allow to be used to perform the appraisal on the subject property.

Appraisers can be red flagged for several reason, mainly for submitting appraisals that were believed by the lender of being inflated or inacurrate.

Get more information on Approved appraiser in the Real Estate Forum