VA 2075

[rtubbs]

Go for it but get your money up front.

 

[Charlotte Dixon]

Jim, thanks for the handbook reference. I found it and read it, and may stand corrected.
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"What is an IRRRL? An IRRRL is a new VA-guaranteed loan made to refinance an existing VA-guaranteed loan, generally at a lower interest rate than the existing VA loan, and with lower principal and interest payments than the existing VA loan. Generally, no appraisal, credit information or underwriting is required on an IRRRL, and any lender may close an IRRRL automatically. Exceptions and specific requirements are explained in the remainder of this section."
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I'd say, read the handbook about EXCEPTIONS AND SPECIFIC REQUIREMENTS. I didn't see where Any licensed appraiser could do this, but it didn't say a V.A. appraiser Had To. At any rate, I'd still call the V.A. directly to find out for sure. What's stopping you from calling? It would be very simple and they are the last word, not the lender. The above states: Any lender may close an IRRRL automatically. My question is: Why doesn't the lender want a V.A. appraiser? and why is this lender so insistent that you do this? Sounds fishy to me. Before I'd worry about getting paid, I'd make sure I was doing the right thing. Good Luck, Jim!

 

[Charlotte Dixon]

STRAIGHT FROM THE HORSE'S MOUTH, JIM......

I just got off the phone with the Philadelphia Regional Office. You are correct and can do it, as long as it's not an appraisal, as you said. They are not assigned through the V.A. system, as you said. And as THEY SAID, get you money up front. :lol:

 

[Jim McGrath]

STRAIGHT FROM THE HORSE'S MOUTH, JIM......

I just got off the phone with the Philadelphia Regional Office. You are correct and can do it, as long as it's not an appraisal, as you said. They are not assigned through the V.A. system, as you said. And as THEY SAID, get you money up front. :lol:

Charlotte, they said it was their company policy to get a 2075 to insure the house was okay, even though no appraisal was required.

Jim

 

[Mountain Man]

Wellll, I lernt something too. Heck, get you money, take the photos, fill out the form and EDI it :!:

 

[Mike Garrett RAA]

I just learned something too! I still do appraisals for VA refinance..so don't spread the word, lol!