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Getting Reviewed again by FSA

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Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Got whacked for first time 1 mo. ago on FSA backed loan (not guarentee loan). 2 more rejects yesterday...appraisals done months ago. Don't they have some kind of time limit? Thought they were supposed to do those within 1 week of recieving the appraisal. Only in one county. Nary a peep from Ark. appraisals Lender is furious. Intends to confront them. He said they beg him to make these loans, then the delay and delay then reject the appraisal. After 5 years have I suddenly got stupid? Or....

Does the County admin (who is referring them out) have a pet appraiser she wants to do them? Well, spit it out sister, who is he?

Is she inviting me to give her a kick back?

Or is she racially discriminating against Laotians. All the rejects are Laotian buyers. The white folks are unscathed so far. One Realtor is beginning to suspect FSA is dragging their feet on applications from Laotians and about to voice his concerns to authorities.

It has to be one of the above.

Ter
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I saw the reverse of this in Farmers Administation loans in East Texas. The co. administrator was black. Black borrowers sailed through with no problems (high foreclosure rate, however), while white borrowers couldn't get a loan.

Roger
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Here in Arkansas USDA settled with black farmers rejected for loans in the East part of the State. They were clearly being discriminated against, generally by the good ole boy network of all white FSA boards.

Same admin. once rejected every applicant to buy a repo farm except one, who happened to just be her boyfriend. One rejected farmer filed a complaint but it was absorbed adminstratatively by higher ups.
 
B

Bemis Pownall

Guest
I remember several years back, we were doing lots and lots of reviews.
I thought it strange that most of the homeowners/borrowers had spanish sir names?

:morning:
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
Terrell:
Are you now, or have you ever been a card carrying member of the Republican Party? Here is the solution to all of your problems: Make a $5,000 donation to the Clinton Library and put a Hillary in 2004 bumper sticker on your PU truck and see if your luck doesn't change. Ain't there some big law firm out their that takes care of these kind of cases?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Ain't there some big law firm out their that takes care of these kind of cases?

Yes, but they are busy suing me claiming I misled a borrower who bought the property and closed on it 4 days before I sit foot on the property. Must have been mind readers....

Lender told me that in 5 mo. they were unable to secure a single loan in Oklahoma thru FSA but have completed all of the applications for FSA in Arkansas, except for one property that failed to appraise out.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Terrel

ahhhhhhhhhh, new you was a card carryin member of the fellowship of the ET kind, shows ta go ya- doin the werk befer ya git there can't be hazardous :lol: :lol: :lol:

8)
 
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