Just learned VA Appraiser never came to house!

[heathpack]

No we have not taken any action... yet.

Closed on house last week. Our contractor bailed on us 1 week before the proposed start date of the remodel. And there was a small explosion in the main electrical panel of the house. And the pool pump stopped working. All of these things happened in a 3 day span, but after our escrow, we feel immunized against worry. The house is fabulous (and we have a home warranty).

New (already much beloved) contractor started demo yesterday. Oh yes and the relatives are in town for a week.

So we've had a lot on our plate right now... Stay tuned.

H

 

[Mike Kennedy]

Will keep you all posted as to where things go as far as regulatory action against Mr. Z +/- banker. H

The "banker", & his/her Superiors, deserve equal treatment as that (a)ppraiser - THEY engaged the (a)ppraiser and are RESPONSIBLE.

Please do keep us posted. Good Luck with the "dream house".

 

[heathpack]

Ok, can someone tell me straight? How bad were the banker's actions? I am trying to learn more about the allowable interactions between a banker/loan officer and VA appraiser but this is surprisingly hard to find. Now as I research, I am getting the impression that my banker was not supposed to have talked to the appraiser at all. Not even once. He should have ordered the appraisal via computer and then if appraisal was objectionable have his underwriter deal with this via some formal VA channel? Is this understanding correct?

H

 

[rcsone]

.....authorized lender submits to VA a request for an appraisal
.....the appraiser is chosen from a Panel of approved appraisers in that area by
computer by rotation
.....notice is sent to appraiser by email which details the assignment and participants,
one of which is someone designated POC on the form. This POC is the contact
information on the designated appraisal. This POC is entitled to be contacted, if
there is insufficent data to support the sales price or "timeliness" of the appraisal
completion. ANYTHING else having to to with the appraisal can only be
exchanged with VA or someone called a SAR, who has been authorized by VA to
question anything specific to that appraisal
.....comment - - generally the POC is more like a secretary than anything else

Finally the procedure goes in the simple and routine as follows: email of assignment, inspection, and then the report is forwarded to VA with conversation and attendence of the none . . . . best to you..............rs