I think the more time they have, the more they nitpick! :roll:
I think you're right, Charlotte. I've also noticed a direct relationship to the borrower's strength and credit worthiness.
So then, the question becomes- Should we too request a copy of the borrower's credit history and charge our fees accordingly??? The LO knows going into it that the deal will be more difficult and the origination, points, and interest rate are all stiffer. The appraiser who charges a flat fee regardless gets run through the mill. 6 comps and 2 addenda later, you now find yourself behind in the other reports on your desk and no wealthier, just further behind the 8 ball. GRRRR!
I've had a few these past weeks where I so wanted to call and take a piece of the underwriter's ear...'did you read the part where I said in bold letters 'EVERY EFFORT HAS BEEN MADE TO STAY WITHIN OR AS NEAR SUGGESTED GUIDELINES AS POSSIBLE. THE SALES PROVIDED ARE THE BEST AVAILABLE DATA WHICH REFLECTS THE SUBJECT'S MARKETABILITY'. Please, Ms. Underwriter, do read that to mean that there aren't any other sales within 1-2 miles and less than 25% gross adjustment. DO YOU UNDERSTAND?? Well, go further out. Expand your search. Aahemmm. Sale 4 was 15 miles out. Just which market would you like me to appraise? The subject's, or perhaps I should go into the neighboring town 45 miles south which has nothing to do with this home??? Argh!
Sorry guys, just had to rant. Feels better.
Happy Sunday! Typing with one eye, the other glued to NFL I imagine for most of us.
