VA 2075

[Jim McGrath]

I have had an out of state lender contact me to do a 2075 exterior for the VA. As I am not on the VA list, I didn't think I could do it. But he tells me I don't have to be on the list to do a 2075. Is this correct?

Jim

 

[rtubbs]

Jim, get your money upfront. I don't do VA either but I doubt that they would be accepting a 2075; and, if it was for VA, VA would be ordering it.

 

[Mountain Man]

:? :?: :?: Yeah, doesn't make sense to me either. I agree, get you CASH at the door. VA orders through a fee panel, NOT by the lender. They also require URAR, not 2075's.

 

[Farm Gal]

I have had clients ask for a VA or FHA LEVEL inspection and write up... maybe this????

 

[Charlotte Dixon]

No, Jim, you can't do it. There is verbage which we must put in every V.A. appraisal that is unlike a standard conventional, or FHA appraisal. The V.A. doesn't ask for 2055s. The lender is screwed up and must go through the VAAS (no, it's not a pap smear). V.A. is not lender select and the appraiser must be assigned to the case. If you accept a fee for doing a V.A. appraisal when you're not a V.A. Fee Appraiser, that is plain and simple wrong.

 

[Jim McGrath]

No, Jim, you can't do it. There is verbage which we must put in every V.A. appraisal that is unlike a standard conventional, or FHA appraisal. The V.A. doesn't ask for 2055s. The lender is screwed up and must go through the VAAS (no, it's not a pap smear). V.A. is not lender select and the appraiser must be assigned to the case. If you accept a fee for doing a V.A. appraisal when you're not a V.A. Fee Appraiser, that is plain and simple wrong.

It is a 2075, no value needed. I called the lender and told him I could not do it. He said he will send me documentation that says I can.

We will see tomorrow.

Jim

 

[Charlotte Dixon]

No, Jim, you can't do it. There is verbage which we must put in every V.A. appraisal that is unlike a standard conventional, or FHA appraisal. The V.A. doesn't ask for 2055s. The lender is screwed up and must go through the VAAS (no, it's not a pap smear). V.A. is not lender select and the appraiser must be assigned to the case. If you accept a fee for doing a V.A. appraisal when you're not a V.A. Fee Appraiser, that is plain and simple wrong.

It is a 2075, no value needed. I called the lender and told him I could not do it. He said he will send me documentation that says I can.

We will see tomorrow.

Jim

Jim, do as you please, but I would call the V.A. Regional Office in your area. If you're in the Philadelphia Region, I have that number for you. That's about the strangest thing I ever heard. In our Region, at our last meeting, a question was asked about the 2075, 2065, etc. and they said as far as they're concerned, throw all those forms out the window. Maybe different Regions have different rules. Who knows?

 

[Pamela Crowley (Florida)]

Would this be a refi? FHA streamline refis don't always need an appraisal. Maybe VA doesn't either and they want a 2075 to go with their AVM. ???

 

[Jim McGrath]

No, Jim, you can't do it. There is verbage which we must put in every V.A. appraisal that is unlike a standard conventional, or FHA appraisal. The V.A. doesn't ask for 2055s. The lender is screwed up and must go through the VAAS (no, it's not a pap smear). V.A. is not lender select and the appraiser must be assigned to the case. If you accept a fee for doing a V.A. appraisal when you're not a V.A. Fee Appraiser, that is plain and simple wrong.

I got a fax from the lender today explaining a 2075 for the VA. In it he quotes the VA Pamphlet 26-7 revised. Chapter 6 pages 6-1 and 6-2.

Which states An IRRRL, Interest Rate Reduction Refinancing Loans.

They are; at a lower rate then the exisiting VA loan, with lower principal and interest payments.

GENERALLY, NO APPRAISAL, CREDIT INFORMATION, OR UNDERWRITING IS REQUIRED, AND ANY LENDER MAY CLOSE AN IRRRL AUTOMATICALLY.

He also states, that while an appraisal is not required they would like to have checked out to make sure it is still standing.

So unless someone on here has some info to the contrary, I will assume it can be done.

Jim

 

[rtubbs]

Go for it Jim. You're not doing a VA appraisal; you're providing a service to the lender that they are asking for. I see nothing wrong with it.