Management Response:\r
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This is David Lurvey, Southern Missouri Bank of Marshfield. This gentleman entered into a loan with us knowing that if his loan did or didn't go through he would be responsible for the cost of the appraisal. As a service to our customers we do not charge for appraisals upfront when we start the loan. In good faith with we trust that if they back out of the loan or their loan doesn't go through due to value or market conditions they will pay for the appraisal. With that being said this loan didn't go through for reason we will not disclose due to privacy, because of that he was not willing to pay for appraisal.
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