On the "cream-puff" house where the appraisal review came in low, the mortgage broker pulled the loan package from the original money source and placed it with another source. If the original lender had DENIED the loan (THIS IS IMPORTANT!), that appraisal would have stayed with the FHA file, and the borrower wouldn't be able to get a new FHA appraisal for 6 months!!!! He resubmitted everything, and we had full loan approval and a package a week later. NO issues with the appraisal. The experienced, local FHA appraiser was right on. Our suspicion? The wholesale lender is going to be filing for BK soon. That's just a suspicion, and I won't name who it was, but to do a desk (AVM-automated valuation model) review that comes in $34,500 LOW is really ridiculous unless they're out of funds!
The other property, where the VA appraisal came in low and we terminated the deal, we're having an FHA203K appraisal soon, so we'll see where that comes in.