VA Liquidations

[Jan Roseberry]

VA announces --

"Announces Countrywide Home Loans (CHL) as the new property management contractor for the VA home loan guaranty program. For all properties conveyed to VA after July 24, 2008, holders and their servicers will send required title documents to CHL. All properties conveyed prior to that date will continue to be the responsibility of Ocwen Loan Servicing LLC (Ocwen) for follow-up on title documents during the transition period. CHL or Ocwen will provide instructions on a case-by-case basis on when to submit title documents to the new address on properties conveyed prior to July 25, 2008. VA expects this transition will be completed within the next 60 days."

 

[Michael Hinnant]

how do I get on the VA list anyway?

 

[Mr Rex]

With BOA as owner of CW, you might want to pick your poison.

 

[Kali the Boston Terrier]

how do I get on the VA list anyway?

Fill out an application and wait 5 years.

 

[Mr Rex]

Fill out an application and wait 5 years.

VA REOs do not require VA panel approval.

 

[David Beasley]

VA REOs do not require VA panel approval.

I would say that's only partially accurate. I know non-VA appraisers that have gotten in with Ocwen in the past and done some of their work...but I get plenty of REO requests from TAS (the VA's appraisal ordering and management system). Gotten several this month in fact - assigned to me, a VA appraiser.

Now, what happens after this latest announcement, I can't say. Countrywide has been a portfolio servicer for certain LGI (VA's REO terminology) properties/appraisals for some years already.

 

[Don Clark]

I would say that's only partially accurate. I know non-VA appraisers that have gotten in with Ocwen in the past and done some of their work...but I get plenty of REO requests from TAS (the VA's appraisal ordering and management system). Gotten several this month in fact - assigned to me, a VA appraiser.

Now, what happens after this latest announcement, I can't say. Countrywide has been a portfolio servicer for certain LGI (VA's REO terminology) properties/appraisals for some years already.

David,

Actually the posters are talking about Apples vs Oranges.

A VA Liquidation Appraisal is completed by members of the VA Fee Panel as a Liquidation is a pre-foreclosure assignment.

After foreclosure, it then is an asset of The Department of Veterans Affairs. Then it may very well be appraised by other than fee panel appraisers.