Final answer:
The requirement that does not have to be met when two appraisals are ordered on a transaction is that the loan applicant must pay for both. Other criteria, such as both appraisals including a physical visit and being performed by certified appraisers, must be adhered to.
Step-by-step explanation:
If two appraisals are ordered on a transaction, the appraisals must meet several criteria. Namely, both appraisals must include a physical visit of the interior of the dwelling used to secure the loan, and both appraisals must be performed by a certified or licensed appraiser. Furthermore, each appraisal must be performed by a different appraiser. However, it is not expressly required that the loan applicant must pay for both appraisals. This requirement may vary depending on the lender's policies and the negotiation between the parties involved in the transaction. Therefore, the option stating that the loan applicant must pay for both appraisals is the one that does not necessarily have to be met.