- Mar 2, 2010
- Professional Status
- Certified Residential Appraiser
So I am in the process of having my townhome refinanced for the first time in 15 years. The loan processor working for the broker sent me a copy of an article making the rounds in the mortgage broker world attributing the bulk of the process delays to lazy and greedy appraisers charging outlandish fees and dragging out the turn times while playing golf. I am embellishing it a bit but not by much. I guess I should not have expected any less. After 24 years in the business you get pretty cynical. In my case, the appraiser contacted me in a timely manner, arrived on time, was efficient and professional, turned his report in within a week and apparently got paid at the low end of the scale based on the fees charged to me. I have heard of no UW issues regarding the appraisal. On the other hand, I have had to deal with continous, extended and last minute UW questions and clarifications. Many of them for items already addressed months ago ( I live in a PUD/townhome and they have been continually requiring then waiving HO6 condo addon insurance). In my case at least, it is evident that the drawn out refinance process is due to lender/broker incompetance and indifference rather than to "lazy" or "greedy" appraisers.