Property Valuation
In Texas, who is authorized to prepare a formal appraisal for mortgage lending purposes?
AAny licensed real estate agent
BA licensed or certified real estate appraiser✓ Correct
CThe buyer's real estate broker
DA home inspector
Explanation
Formal appraisals for mortgage lending must be prepared by a state-licensed or state-certified real estate appraiser under FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act). Real estate agents may prepare CMAs, not formal appraisals.
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