Bankrate.com survey on loan closing costs by state. (fees, properties, lend)
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The Virginia charges are way out of whack. It could be due to the northern VA market being competitive, so much so, most of the lender fees are not even close to what is listed on BankRate.
We lend nationwide and our closing department has this down to a fine art. An email came out yesterday addressing states experiencing appraisal delays, some possibly extreme. This was said to be due to market demand combined with a lack of qualified apprsisers in various markets. Some of the states on that list include Minnesota, Texas (parts), Oregon, Washington (state), North and South Dakota.......there were a few more. In a couple cases, unique properties in these areas were up to a 2 month wait. Talk about a lock buster.
The Virginia charges are way out of whack. It could be due to the northern VA market being competitive, so much so, most of the lender fees are not even close to what is listed on BankRate.
We lend nationwide and our closing department has this down to a fine art. An email came out yesterday addressing states experiencing appraisal delays, some possibly extreme. This was said to be due to market demand combined with a lack of qualified apprsisers in various markets. Some of the states on that list include Minnesota, Texas (parts), Oregon, Washington (state), North and South Dakota.......there were a few more. In a couple cases, unique properties in these areas were up to a 2 month wait. Talk about a lock buster.
<sarcasm>I appreciate the CFPB protecting the consumer by going all out to crush the appraisal industry.</sarcasm>
Oregon: 2 months for appraisals right now. I have a remote Manny deal on 22 acres and was quoted a turn time just around Halloween, at a cost of $1800. They are laughing at rush requests, and fees are over a grand. Same thing in WA. Not seeing this kind of delay anywhere else.
Oregon: 2 months for appraisals right now. I have a remote Manny deal on 22 acres and was quoted a turn time just around Halloween, at a cost of $1800. They are laughing at rush requests, and fees are over a grand. Same thing in WA. Not seeing this kind of delay anywhere else.
Yep, that's what we are hearing. Now that I am logged on from work (to cite Fannie elsewhere), I have access to the remaining states in paralysis:
Colorado, West VA, and Utah.
"I appreciate the CFPB protecting the consumer by going all out to crush the appraisal industry."
Uh yeah. That's working out real well, isn't it?
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