Lengthy Appraisal ?

[MikePRU]

Originally Posted by 2bindenver

I am going to guess there is an Appraisal Management Company involved.

My understanding is that there's always an AMC involved. No more direct contact between lenders and appraisers.

I had a lot of problems because of AMCs when this first came about a year or two ago, but lately not as much. Frankly, I think the whole AMC concept is ridiculous. It doesn't protect the consumer it just costs them more money.

[SmartMoney]

It's entirely possible the lender ordered it on the 15th snd the inspection wasn't done until the 21st, when your charge went through. It could also be a RESPA issue. Lenders are not allowed to collect money for services until the required RESPA period has passed. Do you know when the inspection occurred? Is there anything unique about the property that would hold it up? Any unpermitted work? Square footage disputes? Chances are all is good.

Where are you getting your mortgage? That can provide a clue as to why it is taking so long.