Angel Oak Mortgage Solutions LLC offers Appraisal Valuation Services through our approved Appraisal Management Company: Novo Appraisal Management.

Appraisal Process Angel Oak Mortgage Solutions LLC offers Appraisal Valuation Services through our approved Appraisal Management Company: Novo Appraisal Management. Requirements have been implemented for appraisal orders in an effort to maintain adherence to Appraisal Independence Requirements (AIR compliance), Truth In Lending regulations and the ECOA Valuations Rule. Please note that Angel Oak does not accept appraisal transfers at this time. To place an appraisal order, the following requirements must be met:  The Broker must be an approved client with Angel Oak and have received an Angel Oak Broker ID (identification number) from our Broker Approval Department  The loan file must be an active loan application with Angel Oak  The loan application has been accepted by the Loan Submission Department  Angel Oak Authorization Code has been provided to the broker from the Loan Submission Department *Please note that this code represents an application meets TILA and RESPA compliance standards and will be required to be entered in the “Angel Oak Auth Code” field of your appraisal order request to Novo

 The applicant’s email address is required at the time of order placement Payment and Delivery Requirements: 

Charges will not be assessed until the completed appraisal has been delivered o

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The TPO client will be promptly notified if there are any concerns with credit card processing

Email Recipients of the completed report will include the following: o

Angel Oak Mortgage Solutions (reports are not required to be uploaded as a condition on the portal)

o

The loan applicant via the email address entered at the time the order was placed

o

The TPO individual placing the order

I. Accessing Log-In Credentials

Once the loan has been submitted and the borrower has acknowledged the Angel Oak disclosures, you will receive an email from the Loan Set-Up Department with the appraisal authorization code and instructions on how to log-in to Novo for the first time.

© Angel Oak Mortgage Solutions LLC NMLS #116240, Corporate office, 3060 Peachtree Road NW, Suite 500-B, Atlanta, GA 30305. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public.

Appraisal Process 25 August 2014 ANR

Appraisal Process II. Placing the Appraisal Order To place the order you may go to www.angeloakms.com and select LINKS>APPRAISAL REQUEST.

 Utilize the client login credentials issued from Novo to log in and place your order

 At the top of the screen, select New Appraisal:

© Angel Oak Mortgage Solutions LLC NMLS #116240, Corporate office, 3060 Peachtree Road NW, Suite 500-B, Atlanta, GA 30305. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public.

Appraisal Process 25 August 2014 ANR

Appraisal Process  The Novo order form will appear; complete as directed.

© Angel Oak Mortgage Solutions LLC NMLS #116240, Corporate office, 3060 Peachtree Road NW, Suite 500-B, Atlanta, GA 30305. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public.

Appraisal Process 25 August 2014 ANR

Appraisal Process 

Review your order and provide the credit card information for the appraisal. A hold will be placed on the credit card provided, but the credit card will not be charged until the completed appraisal has been delivered.

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Select “Submit” to complete the appraisal order.

© Angel Oak Mortgage Solutions LLC NMLS #116240, Corporate office, 3060 Peachtree Road NW, Suite 500-B, Atlanta, GA 30305. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public.

Appraisal Process 25 August 2014 ANR

Appraisal Process III. Tracking your Appraisal Order  Go to the “Orders” tab to view your appraisal status. Dates will be available for the Date Assigned, Estimated Inspection, Estimated Delivery, and final Delivery date.

IV.

Appraisal Turn Times a. The average appraisal turn time from acceptance to delivery is approximately 7 business days b. The order is typically assigned to an appraiser within 24 hours of request c. Inspection is typically scheduled within 24 hours of order d. Appraisal is typically completed within 48 hours of inspection e. Quality Assurance reviews within 24 hours of delivery f. Revisions from Quality Assurance are expected within 48 hours of receipt

V.

Appraisal Contacts Angel Oak Mortgage Solutions Sammy LaRoche, Compliance Specialist Phone: 404-844-5733 [email protected] Novo Appraisal Management Customer Support: 866-508-5041

© Angel Oak Mortgage Solutions LLC NMLS #116240, Corporate office, 3060 Peachtree Road NW, Suite 500-B, Atlanta, GA 30305. This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the U.S. government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public.

Appraisal Process 25 August 2014 ANR