VA Appraisal Code

[Jan Roseberry]

MBL -- any VA appraisers know what this means.

Order also had a different kind of number, a 2 instead of normal 6 in first digits. A purchase agreement was included with order. Thanks in advance!

 

[OSU Beavers]

I am not a VA appraiser, but I used Google:

MBL - MANUFACTURED HOME

http://www.vba.VA.gov/pubs/forms/26-0286.pdf

 

[Jan Roseberry]

Thanks!

I have been on panel over 20 years and it is the first time I've seen it. Hate to admit I never thought to Google.

Maybe the reason for the different number???

 

[Greg Bell]

Did you know V.A. government reviewers do not need to be licensed??

 

[Tom McDowell]

It has nothing to do with a manufactured home. The #2 means it is an old case the new cases numbers are a number 6. You must be doing a liquidation or a reconsideration.

Why does a reviewer doing work nationaly need to be licensed in an individual state?

 

[Don Clark]

VA jOBS

Did you know V.A. government reviewers do not need to be licensed??

VA is currently looking for Staff Appraisers. For details e-mail me and I will forward the e-mail I received from them.

CDonClark@cavtel.net

 

[OSU Beavers]

Have VA fees gone up? Do they add a decent travel fee for mileage? We only have ONE appraiser on the VA panel in this county! He rotates with two skippies from Washington. The Realtors hate it when they get him because he is honest.

Because of VA's low fee relative to the local going rate NOT ONE person applied when the panel was opened up a few years back.

Also, apparently anyone in the deal (buyer, seller, LO, Realtors or uncle Bob) can challenge your appraisal and then you are required to reconsider the value and write a lengthy rebuttle. Who needs the headache?

 

[David Beasley]

Have VA fees gone up? Do they add a decent travel fee for mileage? We only have ONE appraiser on the VA panel in this county! He rotates with two skippies from Washington. The Realtors hate it when they get him because he is honest.

Because of VA's low fee relative to the local going rate NOT ONE person applied when the panel was opened up a few years back.

Also, apparently anyone in the deal (buyer, seller, LO, Realtors or uncle Bob) can challenge your appraisal and then you are required to reconsider the value and write a lengthy rebuttle. Who needs the headache?

They're not headaches. You need better sources for your rumors. Your RLC must also be slack, as they set the fees, and can and do survey local appraisers for their conventional fees and turn times so they can adjust the VA fees and turn times accordingly. Our RLC surveys us almost yearly on those subjects.

And "apparently" whomever told you about reconsiderations of value is either lying to you because they don't like you, or is mad that they themselves aren't on the list. ROVs are not called for that often anymore since the VA instituted a program to head them off. It works great and adds little difficulty to an already easy product to produce. Besides, at the end of the day, who is the valuation expert? Your Uncle Bob or LO? No...And my "lengthy" rebuttals, the few times I make then a year anymore, are usually not much more than "My comps were better than yours." Some bad headache. Sign it, upload it, move on.

And if you run in to a problem with "value" on a conventional or FHA, who has your back? No one, maybe your E&O company, or maybe an hour on the phone explaining why you did what you did. Run into an issue on a legitimate value finding as a VA contractor/appraiser, and there's a big old federal agency standing behind you saying "We agree with him/her." Sounds like your RLC may need a housecleaning if that's truly the case. Doesn't sound like they're doing their veterans or appraisers any justice. At least you said the "one" in your county was honest. About the truest comment you made. The VA keeps you honest with their audit/review system. And the problem with that is? (chirping crickets) lol

 

[Jan Roseberry]

Explanation --

Lender did not have current 1805-1 and uploaded 26-1805 (one of those old forms with 5 pages). Consequently, machine accepted and gave an older number (2 instead of current 6) to report.

Can't believe the system took it but it did and now we've got to wait and see what happens when it is uploaded. I thought it was a liquidation also but there was purchase agreement with order.

 

[Mike Garrett RAA]

Been on the panel for 14 years and never heard that term either.

VA fees (in my region) have been the same since I was appointed to the panel. 14 years without a increase. We do not get mileage for any appraisals in our home county. I did one recently were it was 100 miles round trip but since it was in my home county, no mileage.

The new, friendlier VA says, in accordance with the Tidewater Initiative..."the appraiser must notify the point of contact (POC) as indicated on the 1805 (order form) when the appraised value is less than the contract or refinance amount stated. The POC (could be lender or agent) then has two days to provide any sold data they want the appraiser to consider. Just did one, guess what? Sales were not comparable and I did not "reconsider" my value conclusion.

Most, if not all, of the staff reviewers for my region are licensed appraisers. I was told, but not confirmed, they are not required to perform a standard 3 review while working for the VA.

Other than the fee issue, I find working for the VA to be rewarding mainly because we have a lot of VA loans in my market. They did add a substantial number new appraisers to the panel here cutting the number of assignments per appraiser in an attempt to meet ever increasing demands for faster turn times. There also is talk that they are going to require a 5 calendar day turn time but that is just a rumor so far. If that happens I am going ask that they be required to work on Saturdays and Sundays. LOL!