FHA And Retainer Blocks?

[glenn walker]

The appraiser is a NUT ***and may need locked in a Steel Cage : )

 

[Meandering]

In this case your ire is mis-directed. The Direct Endorsement Underwriter has the final say on this and could have easily overridden the appraisal condition with the stroke of a pen.

And we would expect mortgage brokers to know that.

 

[Deleted member 134708]

Mortgagee's (Lenders) responsibility:



Appraisers Responsibility:



The appraiser may have been a little hyper on this but not a lot hyper. It doesn't matter if something is brand new and has defective paint. If the residence was built on or before '78 everything has to be subjected to the LBP protocols.

In this case your ire is mis-directed. The Direct Endorsement Underwriter has the final say on this and could have easily overridden the appraisal condition with the stroke of a pen.

Not looking for long answer and not trying to change your mind.

Does it matter the OP said it is impossible for those bricks, or whatever they are to be installed before 1978. As in they were 100%, without question, installed between 1979-2017?

 

[Tim The Enchanter]

Self banning.

Gotta like someone who comes on and with their first post insults a long time member who tries to help.

 

[Flakey]

Gotta like someone who comes on and with their first post insults a long time member who tries to help.

That was the whole point in the first place. Trolls do what what trolls do. Feh.

 

[Meandering]

Does anyone other than me find it ironic that,

FHA sends out it's updates as mortgagee letters and not......

appraiser letters?



Ghee, wouldn't expect the lending side to actually read them, eh?




.

 

[jay trotta]

I wouldn't of called for it.

Speaking as a civilian who hates seeing fellow Americans screwed out of money, maybe this appraiser, like many do, are extorting you for extra money. They are going to get paid another $150 to come back out.

Not saying you can win, but I'd love to see you win in small claims court and get your money back and then some.

In fact, I just had a final inspection come over where I wasn't the original appraiser. This was a conventional loan. I saw the engagement letter and guidelines. This appraiser on their own, when no one asked for it, made this home owner get a new garage entry door because it had a cat door cut into it. This appraiser just extorted another $200 from the homeowner for a 2nd visit.

This happens way too much and no one says anything. Appraisers inside secret? In this case, Zero people asked for this item to be repaired. The appraiser took it upon themselves. Doing the right thing or collecting $200? I'd love for a judge to be the judge.

Just curious how You perceive an AMC fee for their service ?

 

[CANative]

Does it matter the OP said it is impossible for those bricks, or whatever they are to be installed before 1978. As in they were 100%, without question, installed between 1979-2017?

No. It does not matter. That's the point that the original poster is not getting. Apparently that is the point that some appraisers are not getting.

If the dwelling was built in '78 or before then everything on the property is subject to the LBP protocol.

 

[Deleted member 134708]

Just curious how You perceive an AMC fee for their service ?

Free market.

Buyers perspective: they pay $x for appraisal. If they think too high, tell bank I'm gonna pay $0 and you pay it. There are tons of $0 cost lenders.

Appraiser perspective: accept only the fees you like.

AMC: perspective. Lowest bidder wins, charge bank highest fee market will bear.

Not ok with. Everything said and done. And Jim the banks janitor makes up his own rule that the paperwork file isn't heavy enough and buyer needs to pay another $200 to someone to make it heavier. No one asked for Jim to apply his rule.

Stupid analogy but all I got.


And in no way are 99% of bankers ever going to let a subject to appraisal ever go thru. They will never ever over ride it. Why? Zero upside and all downside. What a litigious society creates.

 

[Terrel L. Shields]

it's only the lending side that can require anything

and he can't tell wood from cement.

Marion was not dissing you. Your appraiser obviously went for overkill, but the underwriter can overrule (waive) the condition. What kind of wood block doesn't rot after 40 years? Just curious.