VA Fee Schedule

[Zoe]

Come on Chopra. Jump on this AMC scam.

CFPB is probably already ankle deep on AMC scam.


Just wait.

 

[Carnivore]

VA is the best single family residential client I have ever had. Bar none. I encourage any veteran I can to go with VA if they can. Some veterans can't go with VA for various reasons.

They don't like BS like most veterans don't like BS

Make it known I am not a veteran. The military would not take me for medical reasons. I applied. They said we can't Sir. We would love to have you but we can't take you.

It may have changed, but in the past there was no appraiser-veteran preference to get on their panel. I know, I tried. I tried through my congressman to get some pressure put on the VA to change their policies. So I just gave up. Maybe it has changed.

What's cool about the VA and Federal Government a 100% disabled vet can work full time for the fed government. Their reasoning is pretty darn good. In a nutshell they have data that demonstrates a lower veteran suicide rate if they are gainfully employed.

 

[Zoe]

It may have changed, but in the past there was no appraiser-veteran preference to get on their panel. I know, I tried. I tried through my congressman to get some pressure put on the VA to change their policies. So I just gave up. Maybe it has changed.

What's cool about the VA and Federal Government a 100% disabled vet can work full time for the fed government. Their reasoning is pretty darn good. In a nutshell they have data that demonstrates a lower veteran suicide rate if they are gainfully employed.

Yeah, thank you for your service.

I don't think it matters whether you are a veteran or not. I had one VA appraiser write a letter for me and two other real estate professionals that were also appraisers write a letter for me. I did everything else the VA asked.

I am not a veteran.

I was doing an appraisal and just got in my car when a guy called me out of Atlanta Georgia and said Hi. He asked me a few questions and said okay. You will be getting information from VA shortly. Your on.

I did stop in the middle of the road to answer the man's questions. I turned my flashers on. I was on a small residential subdivision street.

 

[Zoe]

Again, the beauty of VA is they didn't need any taxpayer bailout money. The guy that called me from VA said you just got lucky. I said thank you Sir.

BTW, I don't believe in luck. I didn't tell the man that.

Easy client. They back their appraisers. They can also get real ugly with their appraisers that don't survive.

I have told many veterans this is how it works. Do you understand how the government works? They said yes. I am a veteran. I understand.

I always thank the veterans for their service to our Nation.

My phone is always open to any veteran that wants to call me on their appraisal.

 

[Zoe]

If the questions from the veteran get into confidential information, I never go there. I always refer them to VA or the lender. I can answer many questions without breaking my client/appraiser confidentiality agreement.

 

[LesPaul59]

Yeah, thank you for your service.

I don't think it matters whether you are a veteran or not. I had one VA appraiser write a letter for me and two other real estate professionals that were also appraisers write a letter for me. I did everything else the VA asked.

I am not a veteran.

I was doing an appraisal and just got in my car when a guy called me out of Atlanta Georgia and said Hi. He asked me a few questions and said okay. You will be getting information from VA shortly. Your on.

I did stop in the middle of the road to answer the man's questions. I turned my flashers on. I was on a small residential subdivision street.

Same experience for me when I got on. Another appraiser had told me he waited two years before he got on so I wasn't holding my breath. Then out of the blue I got the call like you did. I think I was lucky that I cover a county that they really needed covered.

 

[Zoe]

Let me make this point clear. Many veterans don't need 100% financing but do so for personal reasons to pay for something else on a cash out. Excellent credit.

Many veterans have plenty of money in the bank or other investments that are making good money and don't do 100% financing because they need the money?

They do 100% financing because their other investments are doing very well.

 

[Zoe]

That's like @Fernando saying I will take social security early. That would not be wise because he has plenty of money. Similar in some ways on a VA mortgage when you don't need 100% financing. The VET does it to invest in other assets they have many many times.

I'll give you an example. A VET has 10,000 shares of a very profitable stock(s), gold, etc that is doing very well. If they go to buy a house or refinance?

Would they do 100% financing if possible? It would be a case by case basis.

 

[Fritz in NY]

The math is a real positive indicator for defaults with VA backed loans. If you read the quarterly data, less than .02% of all VA purchase loans went into default.
The average Conv., FHA or SONYMA (NYS) has a default rate over 2.15%. So, the VA panel appraisers seem to be valuating more effectively than non VA appraiser mortgage loans.
The numbers don't lie,

 

[J Grant]

The math is a real positive indicator for defaults with VA backed loans. If you read the quarterly data, less than .02% of all VA purchase loans went into default.
The average Conv., FHA or SONYMA (NYS) has a default rate over 2.15%. So, the VA panel appraisers seem to be valuating more effectively than non VA appraiser mortgage loans.
The numbers don't lie,

Ever since the FHA panel went from round robbin like the VA to "lender select"