Will VA go AMC?

[Zoe]

If you look at the big picture, Most SARs have tons of appraisal experience whether they work for VA directly or work indirectly for VA as in house SAR for a lender.

VA will tell a lender to pound sand in many ways. VA has tons of experience working in VA system.

They are definitely not above firing an appraiser either.

The fact the VA needed no bailout still lingers in the atmosphere compared to AMCs and others that required bailout.

Many appraisers get in the system and don't like it or get fired by VA.

 

[Zoe]

Notice VA did not even attend appraisal bias hearings with Congress.

VA was NOT told to attend. The ones who attended were told to attend appraisal bias hearings.

 

[George Hatch]

It's been a while but I distinctly remember commentary some years back about VA not being primarily about safe/sound but to function as an entitlement program for veterans.

I've written a few recommendations for applicants to the VA panel over the years, but never for an appraiser whose work I wasn't familiar with.

 

[Zoe]

It's been a while but I distinctly remember commentary some years back about VA not being primarily about safe/sound but to function as an entitlement program for veterans.

I've written a few recommendations for applicants to the VA panel over the years, but never for an appraiser whose work I wasn't familiar with.

I think they are more worried about market value relative to the veteran and the lender and VA. They can tell to pound sand too. They don't want the veteran over leveraged on a market value appraisal. They don't want anybody overleveraged on the subject including them.

Yes, I agree they are more concerned about their borrowers than the typical lending program.

 

[Zoe]

I don't know if appraisal management companies have a SAR. I guess with lenders that use appraisal management companies and maybe even have part ownership in one have a SAR that they employ and then send all other loans through their AMC or engage them directly.

I know I check "NO AMC" on loans for VA.

I assume they could have an underwriter in house that is a SAR approved for VA and that same underwriter could do conventional, FHA, etc.

 

[Digger88]

I thought this was about managing the process of orders only not direct AMC management per se

 

[Zoe]

I know this. Not all lenders have an in house SAR for VA. VA underwrites many of the loans they insure. If it don't meet their guidelines, they don't insure it.

Veteran or no veteran.

 

[CCAAMO]

No reason for VA use AMC. Once they assign the order most of the work is done by the lender and SAR in terms of managing the order, review and payment.

 

[Non Sequitur]

No reason for VA use AMC. Once they assign the order most of the work is done by the lender and SAR in terms of managing the order, review and payment.

It's about control.

 

[Zoe]

It's about control.

It's more than that. They have skilled people in charge that try to protect the veteran, lender and VA from being overleveraged and the fee the lender discloses to the borrower as an appraisal fee is the appraisal fee.