What Is Tidewater

[gregb]

Interesting that, it is non-VA appraisers telling me that Tidewater is a form of coercion, "where the relation of the parties is such that one is under subjection to the other, and is thereby constrained to do what his free will would refuse."

Keep in mind,

Tidewater is invoked by the appraiser as a courtesy to the vet, and realtors.
In my experience, VA has never had me revise an appraisal based on Tidewater "comps" despite many appraisals with results that do not support the contract price.
VA appraisers have certain rights, with VA required to follow a due process in order to sanction or remove a VA appraiser.
An ROV process is available once the Tidewater process is completed. I have never had an appraisal that went to ROV with VA.
Tidewater is not used in VA refinances.

Bottom line, Tidewater is a process that usually leads to the brokers flailing about, offering no new information resulting in any change in the report or coercion for the VA appraiser.

 

[Eli]

Interesting that, it is non-VA appraisers telling me that Tidewater is a form of coercion, "where the relation of the parties is such that one is under subjection to the other, and is thereby constrained to do what his free will would refuse."

Keep in mind,

Tidewater is invoked by the appraiser as a courtesy to the vet, and realtors.
In my experience, VA has never had me revise an appraisal based on Tidewater "comps" despite many appraisals with results that do not support the contract price.
VA appraisers have certain rights, with VA required to follow a due process in order to sanction or remove a VA appraiser.
An ROV process is available once the Tidewater process is completed. I have never had an appraisal that went to ROV with VA.
Tidewater is not used in VA refinances.

Bottom line, Tidewater is a process that usually leads to the brokers flailing about, offering no new information resulting in any change in the report or coercion for the VA appraiser.

I tell you what the deal is. There are some very sharp certified appraisers working for VA appraisal regional offices in staff positions and they don't put up with a bunch of bull from lenders or re agents or AMC's or anybody else when it comes to any kind of pressure. In fact, if an appraiser is pushing value, they better be more worried about the certified appraisers working for VA staff, than anybody, because they are reviewing the panel appraiser's work continuously and the staff VA certified appraiser is doing field reviews on the panel appraisers routinely.

Notice how AMC's are very different in that regard, at least as far as I know.

 

[CindyR]

I tell you what the deal is. There are some very sharp certified appraisers working for VA appraisal regional offices in staff positions ...and the staff VA certified appraiser is doing field reviews on the panel appraisers routinely. .

Just an observation, things may be different in your RLC, but I have yet to find any person who identifies themselves as a VA Review Appraiser to really have a real appraiser license or certification. They may be well trained and very brilliant but they are not listed on the National Registry, that I have yet found.

 

[Eli]

Just an observation, things may be different in your RLC, but I have yet to find any person who identifies themselves as a VA Review Appraiser to really have a real appraiser license or certification. They may be well trained and very brilliant but they are not listed on the National Registry, that I have yet found.

I didn't know that. That is not true out of the Atlanta Regional office. Thanks for letting me know and reminding me how all areas are different. It is easy to get focused on our individual markets, which may not even be uniform within a state, much less other regions or the nation.

 

[sandpiperapp]

That has been MY experience, maybe not yours, but has CERTAINLY been mine and it's well documented at my end that no one would do anything about it. So BS back at ya slick!

That is not accurate. My actual hands on VA experience says that is not accurate.

 

[sandpiperapp]

Tidewater is a proactive way to handle a possible reconsideration of value request, that puts me, the boots on the ground appraiser, in control. You gotta like that.

How many times have we heard appraiser horror stories about the hoops they have had to jump through from a lender or AMC for a Reconsideration of Value?

 

[Eli]

Tidewater is a proactive way to handle a possible reconsideration of value request, that puts me, the boots on the ground appraiser, in control. You gotta like that.

How many times have we heard appraiser horror stories about the hoops they have had to jump through from a lender or AMC for a Reconsideration of Value?

Yes, and if you have done your job as expected, you will never have to worry about being blacklisted for not meeting contract price like we have heard some AMC's have done due to lender pressure.

 

[gregb]

Eli, why are you comparing the VA experience to the typical AMC experience? Apples vs Mostly Rotten Root veggies, imho.

 

[TN Pro]

Let me boil it down to my experience and say that the Atlanta Regional Loan Center of VA does not put up with crap like some have indicated here, and they operate very much more professionally than any AMC I have ever encountered when it comes to dealing with


Yes, and if you have done your job as expected, you will never have to worry about being blacklisted for not meeting contract price like we have heard some AMC's have done due to lender pressure.

Could not agree more. Atlanta RLC has always had my back, have always been professional, i have never been pressured and i have never had an ROV after a Tidewater request after i have explained why any sales provided are not appropriate comps (if indeed they are not)

 

[Mike Kennedy]

Tidewater is invoked by the appraiser as a courtesy to the Lenders and realtors.

As a USAF Vet, I assure you the definition of Coercion posted earlier is entirely appropriate in it's application. It IS the reason I chose NOT to do VA.

A process which is illegal for NON-VA loans, and rightly so, does no Veteran or his/her family a "favor" when parties with vested interest in doing the deal for commission sale are permitted to intentionally attempt to coerce any Appraiser into changing a Value Opinion (defined either as a point of value or a direction in value) i.e. "below contract price" via pre-completion "notification".

There is no other reason for Tidewater to exist other than to attempt to obtain a CHANGE IN a communicated Value Opinion prior to the so-called "official appraisal" report delivery.

It is what it is and should be outlawed exactly the same way it was for non-VA loans - for the same reason.