Just learned VA Appraiser never came to house!

[heathpack]

......VA processing procedure is the finished appraisal is loaded to the VA Regional Portal and then it is accessed by "the intended user", ie: the lender who orginated the request to and through VA. This "turned in by the end of the day tomorrow" stuff would show a conflicting report differing from the original, uninspected one previously filed with VA. So from your sequence of related events, I question the entire process and the participants from the realtor, the loan officer, and including the first and second appraisers. If you will PM me I will give our Regional's contact number and they can refer you to the proper person of and in your area. At the top of the completed appraisal there should be a Case Number which begins with "LAPP followed by in this area ##-##-#-#######. This will establish the identity for your possible needed conversation with the VA folks. In addition I would suggest futher considerations of your liability to VA, if this turns out to be a questionable transaction committed with your prior knowledge. Since "it's a good deal" might satisfy only your motive, it leaves me to ponder VA's reationship with you when they provide means.....?........best to you and all............rs

Wait, I'm confused again. I thought we'd formally ordered a review and that's what is getting turned in today. Isn't that the process?

H

 

[Ken B]

RS is exactly correct. Those of us familiar with the VA appraisal report processing procedure are wondering just what is going on. FWIW, I don't think anyone could come back at you for anything if someone starts questioning what happened. You have acted in more than good faith, IMO.

Is there a number at the top of your report similar in structure to that identified by RS? If so, as I previously stated, "Z" has some explaining to do. Something is hinky.

Well, something is more than hinky in that, for the "first" report "X" inspected, "Z" signed as "did inspect" when he didn't. And now, supposedly, "Z" is doing the "real" inspection. "Z" is not doing a review. There is no process which would permit such an action. What is he reviewing? Something he has already signed? As nicely as it can be put, BS. It simply doesn't work that way.

"Don't rock the boat", huh? It is my opinion that you are getting jerked around. And all of the "professionals" that have been so nice to you are doing the jerking. They have one goal and one goal only. To close the loan and collect their commission.

But I could be wrong.

 

[heathpack]

RS is exactly correct. Those of us familiar with the VA appraisal report processing procedure are wondering just what is going on. FWIW, I don't think anyone could come back at you for anything if someone starts questioning what happened. You have acted in more than good faith, IMO.

Is there a number at the top of your report similar in structure to that identified by RS? If so, as I previously stated, "Z" has some explaining to do. Something is hinky.

Well, something is more than hinky in that, for the "first" report "X" inspected, "Z" signed as "did inspect" when he didn't. And now, supposedly, "Z" is doing the "real" inspection. "Z" is not doing a review. There is no process which would permit such an action. What is he reviewing? Something he has already signed? As nicely as it can be put, BS. It simply doesn't work that way.

"Don't rock the boat", huh? It is my opinion that you are getting jerked around. And all of the "professionals" that have been so nice to you are doing the jerking. They have one goal and one goal only. To close the loan and collect their commission.

But I could be wrong.

There is a file number with an identical numerical format but there is no "LAPP" phrase. What is "LAPP?"

For the record, the banker is "ours," not someone the realtor set us up with. Realtor knew who banker was but had never worked with him before.

It seems to me that if appraiser originally told banker that he could not take his "2nd look" without a request in writing that this has already been submitted to the VA. And if that is the case, the VA will have 2 appraisals (not 1 + a review as I thought). VA response will be "I don't think so." So are appraiser & banker just delusional that this can be still made to work?

H

 

[rcsone]

Wait, I'm confused again. I thought we'd formally ordered a review and that's what is getting turned in today. Isn't that the process?

H

"no, that is not the process". VA reviews their own works and you cannot order a review. You could request one, but you do not know how. As I currently understand this Regional's process, after receiving the completed appraisal through their portal, they will furnish the lender a Notice of Value. This says the amount VA is willing to guarantee to the lender. The paperwork might not be reviewed for months, if ever. This Regional tells me they review every one from at least their desks. Then a sample of about 10% are field reviewed where the comps and subject are examined in person from the street. This information was related to me less than thirty days ago. Plus there is different levels and quantities of reviews and reviewers depending on the appraiser, the local markets, and statistical unknowns, staffings, etc. And my concern of the slight for you is that this guarantee is based on many facts which you relate as lacking in sufficency. And you are preceding with a transaction with them which you know is not as presented to them properly for their consideration. You will have harsh grounds to walk if anything goes amiss in this transaction anytime in your and its succeeding history. This concern is due to your relating, as you have here, of your knowledge of irregularities prior to this deal's completion. You have in my opinion attached personal liability until the term of this activity or loan is completey satisfied over its 30(?) year life. And remember that VA will have artillery, tanks and planes.............I mean not to alarm only converse.......best to all...............rs

 

[Webbed Feet]

Wait, I'm confused again. I thought we'd formally ordered a review and that's what is getting turned in today. Isn't that the process?

H

That's impossible. An appraiser cannot "Review" themselves!!!!

Let me tell you what I think is going to happen here. Mr. Z is going to cover his *** by attempting to submit a "appraisal report correction" by faking up some error that needed to be supposedly corrected and may even go so far as try to slip in a different "effective date" in the process in hopes it slides through the system. He'll attempt to pacify you with a slightly higher token value opinion increase with supposed justification due to the "error" that needed to be corrected. Maybe he is going to do absolutely nothing beyond looking cool while at your house.

All in hopes all of this quietly goes away. It is possible the original appraisal report was not submitted to the VA yet. Afterall, we already know integrity is an issue here. I tend to think if there was a 100% integrity breakdown that you'd of gotten any value you needed. So I am still leaning towards this being a very stupid thing to have done because of leaving on a vacation.

None of the above is good. But I am having a spot of trouble seeing where any of this hands you any legal liability between you and the VA. You simply caught it and demanded the appraiser do what he should have done.... Him still turning around and doing even more things that maybe he shouldn't be is not you being "involved" in anything inappropriate. You did not ask for that. You are no VA, appraising, or lending, expert on what should have, or should be, done.

 

[David Beasley]

There is a file number with an identical numerical format but there is no "LAPP" phrase. What is "LAPP?"

LAPP is the Lender Appraisal Processing Program - and not every case is a LAPP (because not every lender is "LAPP-approved"). It may seem like that is all we (VA appraisers) get sometimes and is easy to assume that's all that is out there, but it is not. There's also LGI, SAP, IND and others. The acronym "LAPP" is not required to appear on the report, but the case number is supposed to appear on every page in the report so yours may have been a LAPP, or it may not have been, either way it has no bearing on your primary issue.

If the appraisal is "not a LAPP", that simply means that the appraisal has to be reviewed by the VA prior to the issuance of the CRV (certificate of reasonable value). LAPP cases are reviewed in-house at your bank/lending institution, and *may* be reviewed by the VA, but there is no promise of an immediate VA review in LAPP cases. LAPP cases are reviewed randomly every so often by VA staff review appraisers at the RLC level - I think the last number I heard was 10% of all LAPPs eventually get a VA review - unless they spot a problematic appraiser, then they will review as much of their work as necessary to make sure they're OK or need to be disciplined.

Also, there is only 1 portal (VIP - Veterans Information Portal), they're not regional. We have regional loan centers (RLCs), I think there are 5-6 that service the entire country. When we upload our appraisals, they go into one large national system, eAppraisal (which I think used to be physically located in Pittsburgh), but then are actually "worked" from the RLC that covers the subject's area - and sometimes are passed to locally situated appraisers who are on the VA staff. Our (North Carolina's) RLC is Atlanta, we ultimately answer to them. However, we also have VA staff appraisers located in Winston-Salem NC and in Fayetteville NC, who also answer to Atlanta, as reviewers of our work and also work in areas like the Specially Adapted Housing program, for handicapped vets.

 

[Ken B]

There is a file number with an identical numerical format but there is no "LAPP" phrase. What is "LAPP?"

For the record, the banker is "ours," not someone the realtor set us up with. Realtor knew who banker was but had never worked with him before.

It seems to me that if appraiser originally told banker that he could not take his "2nd look" without a request in writing that this has already been submitted to the VA. And if that is the case, the VA will have 2 appraisals (not 1 + a review as I thought). VA response will be "I don't think so." So are appraiser & banker just delusional that this can be still made to work?

H

If you would like to get to the bottom of this, I recommend you contact the Regional Loan Center (RLC) for California and other western states. They are located in Phoenix. The division of the RLC which you would need to speak with is the Construction and Valuation section. The phone number is 602-627-3060. You may only get a staff appraiser who may or may not follow up on your call. If you want to talk to the real boss, ask for Grace Cooper. She is the Loan Guaranty Officer. Have the VA case number as shown on the top of the appraisal ready and explain to her exactly what you have explained here. I guarantee you that she will be interested if there is truly something irregular occurring.

Good luck.

 

[heathpack]

Ok, so now we're REALLY angry

So we've been yanked around, lied to, defrauded and treated like we're unreasonable for a few weeks now.

The sun has set and no appraisal. And banker left the office at 5pm, as usual.

Mr. Z, the gloves are coming off.

Does anyone know who regulates bankers? This is not a regular bank but an institution that issues mortgages and sells them off to others. They have referred to themselves as a "direct lender" if that phrase has meaning to anybody.

H

H

 

[rcsone]

.......a succeeding Chapter Two?.......As the Mama's and Papa's almost used to sing, "California Scheming"...............?..............the different label recently attached in your act of "money orginator vs. banker" means I would double my attentions to the possibilites of a curveball delivery in their pitch......I would end with Frank and "Fry Them to the Moon"...........best to all......................rs

 

[heathpack]

Just to be clear about banker. There's no change in designation. We've known all along that he is a mortgage banker and we've known the type of the institution he works for. "Mortgage banker" is indeed the correct legal term here in California.

I did learn that his institution is regulated in CA by the Department of Corporations. Banker himself holds a license through the Office of Real Estate, surprisingly it is the same type of license that realtor holds: "salesperson."

If anyone out there has a good contact for an honest mortgage banker in CA, I'd appreciate it. Not because I'm trying to shop a new loan, but because I'd love to be better able to understand laws and regulation regarding the mortgage banker designation in CA.

H