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Appraisals & the HVCC ... Are You Frustrated With the Current Hassles?
Appraisal issues continue to be a problem for competing Lenders, Banks, and Mortgage Brokers. I receive calls from Attorneys and Realtors ... even Borrowers themselves (after the loan has not closed through a competing lender), asking, "What can you do to help this situation"? Currently, this is happening more often that you would think ... or like.
I definitely do not mind receiving phone calls or pleas for assistance regarding this issue. I'm always happy to have a chance to help and also grow my business. And, this is a problem where I think I hold a definite edge over many other lenders. I am a Mortgage Banker through Chicago Bancorp ... and I retain some control over the appraisers we conduct business with. A definite plus that pays off during the processing of a loan.
But as a former Appraiser, I can tell you ... we are seeing issues of a nature that we have not faced prior to the passing of the HVCC ... and seeing them much more often. We have been left to face a huge "fire-storm" of troubles with nothing but a fire-bucket of water with which to put it out. In other words, when problems arise ... more
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