NEW VA Fees and Timeliness Schedules Released Effective Dec 1

[Tiffany Gibbons]

Can you throw a little health insurance in there and maybe some other beniefits? LOL

Give me an inch and I want a mile.


I do appreciate it. I am sincere. I am sincere on all points.

The raise was sweet.

Got my first 2 $650 checks today, I might pick up a county I dropped now. Grateful!

 

[Zoe]

Got my first 2 $650 checks today, I might pick up a county I dropped now. Grateful!

That relieves a little pain. Gives me a little more get up and go attitude.

 

[Zoe]

VA provides some security in backing their appraisers that someone working for an AMC does not have. There is no question in my mind that is true. FHA is similar but not to degree of VA.

I won't rant but it is God's honest truth.

 

[Zoe]

I will rant. AMC is bottom of list. Direct engagement was better.

Meet me in parking lot if you want to discuss further.

 

[Zoe]

Have you ever heard of racist complaint on a VA loan? Probably have been one or two. It rarely happens. Think about why that is true.

VA controls the process. Not the lender. Not the borrower. Not the real estate agent. Not the seller........................................Need I go on? There are many things I could add.

 

[Dale Floyd]

Need to be very particular in your collection efforts. Document every thing as far as phone calls, emails, texts, whatever in your collection efforts. VA will help you because they carry a big sledge hammer.

If you are well documented in your efforts to collect, any small claims court will give you judgement and you can put lien on property to get paid in TN.

You can not put a judgement lien on a property appraised for the VA. That would be illegal, because neither the property buyer or owner hired the appraiser. You can get only a judgement against the lender directly but the potential loss of their VA mortgage abilities is a bigger headache for them.

Always do your diligence at collection efforts, and get the VA involved after the third attempt. If still no luck, file a complaint with the Tennessee Department of Financial Institutions additionally.

Remember - You cannot decline future VA orders involving a delinquent lender so be sure to involve the VA in collections if necessary.

 

[Hondo]

We are now authorized to charge late fees without needing to get approval. This is from the Dec 1, 2021 fee update guide:

Payments - Lenders and other appraisal requestors should note that VA Form 26-1805,
VA Request for Determination of Reasonable Value (Real Estate), states “On receipt of
‘Notice of Value’ or upon advice from the Department of Veterans Affairs that a ‘Notice of
Value’ will not be issued, we agree to forward to the appraiser the approved fee which
we are holding for this purpose.” If a payment has not been made within 30 days of
billing, a late fee charge not to exceed state usury statutes is authorized. Late fees
cannot be charged to the Veteran. Lender Appraisal Processing Program lenders are
responsible for their approved agents.

If I had a Lender that wasn't paying, I would be adding late fees, it just might get their attention.

 

[Tiffany Gibbons]

We are now authorized to charge late fees without needing to get approval. This is from the Dec 1, 2021 fee update guide:

Payments - Lenders and other appraisal requestors should note that VA Form 26-1805,
VA Request for Determination of Reasonable Value (Real Estate), states “On receipt of
‘Notice of Value’ or upon advice from the Department of Veterans Affairs that a ‘Notice of
Value’ will not be issued, we agree to forward to the appraiser the approved fee which
we are holding for this purpose.” If a payment has not been made within 30 days of
billing, a late fee charge not to exceed state usury statutes is authorized. Late fees
cannot be charged to the Veteran. Lender Appraisal Processing Program lenders are
responsible for their approved agents.

If I had a Lender that wasn't paying, I would be adding late fees, it just might get their attention.

Oh it definitely does! VA will back you up.

 

[CindyR]

do we still get the extra $50 for new construction?

 

[Tiffany Gibbons]

I

do we still get the extra $50 for new construction?

Only if proposed with plans and and specs, not if ordered as existing with just buyer's preference items. I think it's on the very last page of the document.