VA late fees

[gbrown]

Question on late fees. Does your late fee clock apply from time of receipt or from NOV (notice of valuation). It appears that the NOV date maybe weeks after receipt date, I go by notice of receipt, it says that in my invoice. Also due to excessive late payers are your late fees increasing in 2026. Just want to know what you think.

 

[BRCJR]

Question on late fees. Does your late fee clock apply from time of receipt or from NOV (notice of valuation). It appears that the NOV date maybe weeks after receipt date, I go by notice of receipt, it says that in my invoice. Also due to excessive late payers are your late fees increasing in 2026. Just want to know what you think. I did have someone tell me there late fee was $200 for any past due over 30 days. Is anybody asking more and if late fee is unpaid do you fight for any balance. Maybe need a poll.

To legally enforce a late fee, it has to be included, with some very limited exceptions, in your contractual agreement with the client. Many may collect them but, simply including such on the invoice is not 100% the correct way to do so.

 

[TerryRohrer]

To legally enforce a late fee, it has to be included, with some very limited exceptions, in your contractual agreement with the client. Many may collect them but, simply including such on the invoice is not 100% the correct way to do so.

I think in this situation, the VA Handbook covers that issue. It further suggests that late fees are limited by each State's usury laws.

• VA Guidance: The {Veterans Benefits Administration website (benefits.VA.gov) https://www.benefits.VA.gov/HOMELOANS/appraiser_fee_schedule.asp} clarifies that a late fee is permitted if payment isn't made within 30 days of the appraiser's billing for the work.

From the VA page on timeliness:

Payments​

Lenders and other appraisal requestors should note that VA Form 26-1805, VA Request for Determination of Reasonable Value (Real Estate), states “On receipt of ‘Notice of Value’ or upon advice from the Department of Veterans Affairs that a ‘Notice of Value’ will not be issued, we agree to forward to the appraiser the approved fee which we are holding for this purpose.” If a payment has not been made within 30 days of billing, a late fee charge not to exceed state usury statutes is authorized.

Late fees cannot be charged to the Veteran. Lender Appraisal Processing Program lenders are responsible for their approved agents.

https://www.benefits.VA.gov/HOMELOA...estors,responsible for their approved agents.

 

[AppraisingLA123]

I had a VA order that had not been paid for 6 months, i charged 10% per month late fee. Most of the clients pay within a month.

 

[Tim Hicks (Texas)]

Sometimes I am happy just to finally collect my fee. Lenders, even the good ones, will lose invoices at any point.

 

[Zoe]

Your state can have limits on late fees. Like a certain percentage allowed per day. I do by the month. 0.83% per month. I think that is Tennessee law. It is called like a usuary limit. It starts 30 days after the invoice date which is date of delivery. It usually gets their attention if it is 60 days late, I put it on updated late invoice. It is listed on the original invoice I send them.

"Please pay promptly
Payment is due within 30 days.
Accounts not paid within terms are subject to a 0.83% monthly finance charge"

 

[Zoe]

Of course you know VA will help you collect the fee if necessary. You have to do your due diligence on collection efforts. You have to show how many times you have tried and when and they will help you.


VA can put pressure on the lender.. They won't sue them for you. But they can put pressure on the lender that is worse than a lawsuit. Like you are not doing anymore VA loans.

Their heat is worse than your heat.

 

[Zoe]

If they are still liquid, they will pay your appraisal for VA when VA contacts them. Probably delivered by FEDEX overnight mail.

 

[AppraisingLA123]

Your state can have limits on late fees. Like a certain percentage allowed per day. I do by the month. 0.83% per month. I think that is Tennessee law. It is called like a usuary limit. It starts 30 days after the invoice date which is date of delivery. It usually gets their attention if it is 60 days late, I put it on updated late invoice. It is listed on the original invoice I send them.

"Please pay promptly
Payment is due within 30 days.
Accounts not paid within terms are subject to a 0.83% monthly finance charge"

according to this article you can chage up to 10% in Tennessee

Maximum Late Fee Laws by State - 2025 Update

Complete 2025 guide to maximum late fee laws by US state. Interactive map shows fee limits, grace periods, and compliance requirements. No max in 30+ states.

www.paidnice.com

 

[glenn walker]

You can charge but collecting is what's almost impossible..lol