DMZwerg
Senior Member
- Joined
- Mar 25, 2009
- Professional Status
- Certified Residential Appraiser
- State
- Wisconsin
Here is the whole country http://www.benefits.VA.gov/homeloans/fee_timeliness.asp
The problem comes in with the terminology "rate".
Does the Dodd Frank use of "rate that is customary and reasonable" apply equally to all SFR mortgage appraisals, and thus limit the top as well as the bottom, or is it to be interpreted as a minimum billable rate per hour?
See, those high-end uber-complex lakefront properties on large acres could well be 40+ hour assignments and thus should command higher fees than the cookie-cutter tract assignments. I could well see C&R for the cookie-cutters be somewhat below VA fees (Mercury Network version would make sense for those) whereas beyond that I could see VA/8 being used as a guideline for minimum C&R for more complex properties.
Well, somebody asked
