What requirement applies to the appraiser of a property securing a higher-priced mortgage loan?

The requirement that applies to the appraiser of a property securing a higher-priced mortgage loan is that they must make a physical visit to the interior of the property. This mandate is established to ensure that the appraisal process is thorough and accounts for the actual condition and characteristics of the property. A physical inspection of the interior allows the appraiser to evaluate critical factors that could affect the property's value, such as wear and tear, renovations, or significant structural issues that may not be evident from an exterior-only inspection. This requirement is essential for protecting both the lender’s investment and the borrower’s interests, particularly in higher-risk situations where accurate valuations are crucial.

The other options do not align with the established standards in the appraisal process for higher-priced mortgage loans. A requirement to submit a report within three days is not specific to higher-priced loans and is instead a general timeline that may apply to various types of transactions. Providing a market analysis rather than an appraisal skips the detailed analysis required for formal valuations and may not meet regulatory requirements. Limiting the appraisal to exterior inspections would not fulfill the necessary due diligence and would overlook important aspects of the property's value.