Houston area VA panel question

[Leon Stewart]

Robert:

It's unlikely to happen. About 4 or 5 years ago I was talking to a friend of mine who was an administrator in the VA's Appraisal Department and we were having a social conversation at a social gathering and we were discussing an older VA appraiser friend of ours who was retiring, and this VA person indicated that he was disappointed that this older retiree didn't recommend anyone to replace him. I was somewhat supprised and asked him don't they just select someone from the qualified appraisers on the waiting list. He indicated that the usually procedure was for the person retiring to recommend his replacement, and usually that would be a relative or a close friend. So these Roster Spots are handed down from generation to generation, so only on rare occasions do outsiders get on through the normal channels, but good luck anyway.

leon

 

[Restrain]

Charlotte:

I've had to deal with these people as a Broker. This is not only my opinion, its the general opinion of the real estate professionals in this area. As a result, VA is the LEAST desired financing and the realtors consistantly recommend to their clients that they not accept a VA financed loan. Had a client that had to do a VA loan, it took months to close and cost them 10% of the sale price in un-needed repairs and appraisal problems.

VA is a farce, period.

 

[Charlotte Dixon]

R...I guess it's different in various parts of the country. We are in an Air Force Town, approximately 2 miles from Dover Air Force Base. The Naval Academy is close, also. V.A. loans are very popular here and turnaround times are as swift as conventional. FHA loans take longer around here, they're complicated and Realtors try to avoid those. The loan officers and processors do so many V.A. loans, they are experts in that field. I can understand if an area doesn't do many V.A. loans that people involved wouldn't know how to process them quickly. Most lenders here hire and train special staff to process V.A. loans so they go smoothly. It's bread and butter in this area for Realtors, Loan Officers and Appraisers. To discourage V.A. loans in this market is like cutting off a limb. We love them! Different strokes, etc......