VA Appraisal Slowdown

[Ariba]

Received this e-mail from the Denver VA RLC.

Greetings VA Fee Panel Appraisers,

We hope you are all safe and well. Loan volumes have changed across the industry and we have seen a similar shift in VA origination activity across our 8 states of jurisdiction. Hopefully, this trend is short-lived. Transaction volumes have led to a number of inquiries from appraisers about their VA profiles. Some appraisers have contacted us to confirm that they are still in good standing with VA. Others have asked to increase max weekly assignment counts or to expand their territory. Rest assured, you will be notified by VA if there is to be a change in your standing. Given lender orders drive appraiser assignments, changing max weekly assignments and expanding territories won’t automatically result in more orders. [quote/]

 

[Oh No Not Him]

Received this e-mail from the Denver VA RLC.

LOL..I asked to add 2 towns at the far edges of my 2 counties that I had removed when it was busy because I couldnt keep up & the distance was an issue..oh well...I guess that why I havent heard back

 

[glenn walker]

No that's not how it works. The system is designed to protect existing appraisers not open it up when other areas get slow. It's fair. To protect the ones who served areas when others were not. VA Is doing a good job not to allow out of area appraisers to cannibalize existing appraisers by flooding their MARKET. KUDO to VA.System.

 

[Oh No Not Him]

No that's not how it works. The system is designed to protect existing appraisers not open it up when other areas get slow. It's fair. To protect the ones who served areas when others were not. VA Is doing a good job not to allow out of area appraisers to cannibalize existing appraisers by flooding their MARKET. KUDO to VA.System.

Glenn I have a bit of an issue with "cannibalizing"...in my case, there are areas I have covered regularly for over 20 yrs...as a matter of fact my RLC had suggested doing just what I did-ciutting out a couple towns when I couldnt come close to meeting turn times.

 

[glenn walker]

Glenn I have a bit of an issue with "cannibalizing"...in my case, there are areas I have covered regularly for over 20 yrs...as a matter of fact my RLC had suggested doing just what I did-ciutting out a couple towns when I couldnt come close to meeting turn times.

Nothing personal but probably many are also now trying to expand into your area too.

 

[CommonSense]

Received this e-mail from the Denver VA RLC.

How about the that shortage of appraiser. lol

 

[Tim Hicks (Texas)]

Glenn I have a bit of an issue with "cannibalizing"...in my case, there are areas I have covered regularly for over 20 yrs...as a matter of fact my RLC had suggested doing just what I did-ciutting out a couple towns when I couldnt come close to meeting turn times.

So, take away the few assignments for that area from the regular appraisers from that area? They could just expand them in your area instead. Stay in your lane and weather the storm.

 

[glenn walker]

How about the that shortage of appraiser. lol

So, take away the few assignments for that area from the regular appraisers from that area? They could just expand them in your area instead. Stay in your lane and weather the storm.

Tim I assume the RLCs are watching order volumes and they know if they have a over supply or under supply.
So depending on market areas some may allow people doing new counties and others wont. What they don't want to do is create a situation where nobody has any work. Imagine I am in a County of 10 Million People and my VA buddies are now down to one or two assignments a month from 10 to 15 over last 10 years, so obviously this County has a Over-Supply on the fee panel, but I assume in some communities they still have a Under Supply.

 

[ucbruin]

Why do some people post as if supply and demand is static....
Supply and demand is not static....

During the height of the pandemic Walmart/Target/et al....
Had shortages and did whatever it took to get more products....
During 2022 all these retailers are reducing prices to sell the products....

Sometimes there is an oversupply of appraisers/undersupply of assignments and/or an oversupply of assignments/undersupply of appraisers....

 

[MrLA]

Confirmed. Overall slow down across the board except for builders!