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The lender has the appraisal. The VA does not permit its appraisers to take 2 weeks to submit a report after viewing the home. However, the lender does have five working days to get around to reviewing the report after it is submitted. Then they may have questions of the the appraiser or want additional info, etc. or otherwise not be ready to sign off on it. You'll hear from the lender when they are ready. Underwriters won't rush on this. There are too many regulations that have to met, too much responsibility to just toss a loan package together for the sake of speed. Hang in there- try to be patient as difficult as that can be for a borrower.
Yes that's the exact process that were taken throughout our process we even got copies of the appraiser and the lender reviewer page. Being patiently as humanely possible lol but thanks for the great advice.
Is there a timeline they have to complete the appraisal review? It's 10 business days today since it was done, 7 business days since it was returned to lender. Think 12 since it was ordered. Thought they only had 10 total.
The **** file is out of underwriting. Because of the credit score we do require a second level review. It will be another 48 hours until we have that second level review back. As soon as I have it back I will advise all parties. ....Any Imput?
Got appraisal last night after spending half an hour on phone with processor's supervisor for not responding to us.
awwww I'm happy for you sometimes you have to get stern with LO and processor's especially when their not responding I feel like they should let you know whether its good or bad communication is everything
We have a VA loan on a property that is now rental property. The whole process was smooth for us. No delays, problems or issues. It was also in Killeen where I'm assuming many loans are VA.
awwww I'm happy for you sometimes you have to get stern with LO and processor's especially when their not responding I feel like they should let you know whether its good or bad communication is everything
Yeah all we wanted was a status. That should take 5 seconds to send an email. Sheesh. Still afraid we won't be ready to close in 16 days.
We have a VA loan on a property that is now rental property. The whole process was smooth for us. No delays, problems or issues. It was also in Killeen where I'm assuming many loans are VA.
Ok great that's nice to know the VA loan can have smooth success.....
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