diff --git a/lib/index.js b/lib/index.js
index afaec5e..f2a7625 100644
--- a/lib/index.js
+++ b/lib/index.js
@@ -62,11 +62,6 @@ function getRefSchema(refVal, refType, parent, options, state, fn) {
           dirname = '';
         }
 
-        if (dirname) {
-          oldBasePath = state.cwd;
-          var newBasePath = path.resolve(state.cwd, dirname);
-          options.baseFolder = state.cwd = newBasePath;
-        }
       }
 
       derefSchema(loaderValue, options, state, function (err, derefedValue) {
@@ -414,4 +409,4 @@ function deref(schema, options, fn) {
 
 deref.prototype.getRefPathValue = utils.getRefPathValue;
 
-module.exports = deref;
\ No newline at end of file
+module.exports = deref;