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MMJ Ordering Policy Updates - Effective 8/1/2007





 To all of our valued clients, we at MMJ take appraiser independence very seriously. Therefore, we would like to strongly recommend that you develop and implement a "best practices" policy for dealing with the appraisal process. Below is a list we have developed to help get you started.

1. Please do NOT include any references to estimated value or loan amount on your orders.

2. DO include Sale Price (and a copy of the contract) as it is required under the Uniform Standards of Professional Practice (USPAP) on purchase transactions.

3. DO NOT include any comments unless they include special lender requirements and or contract instructions.

4. Please designate an individual at your firm as an Arbitration Officer. Advise MMJ management of who your personal is as soon as possible.

5. Value, Comp checks, or pre-comps of any kind (written or verbal) will not be performed prior to us being engaged for that assignment. Although most are used for legitimate purposes, some individuals use them to "fish" for the appraiser with the highest value estimate.

6. Do NOT send copies of other completed appraisals unless it is required for a field or desk review.

7. If you require multiple appraisals on the same property, do NOT arrange for or ask the appraisers to visit the property at the same time.

8. After an appraisal has been completed, please send all non-value correction requests to: Corrections@mmja.com. Telephonic requests will not be addressed.

9. After an appraisal has been completed, please send all value related requests to: Arbitration@mmja.com. Telephonic requests will not be addressed.

These policies should be in place by August 1, 2007.

Any order received or conduct that violates these guidelines will be rejected or modified internally prior to being assigned to the field appraiser.

If you have any concerns or questions please contact Steven Knobel: (212) 319-7300 ext 201, Jeff Jackson: (212) 319-7300 ext 202 or Tony Pale: (212) 319-7300 ext 264.

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