Appraisal Reviews = Collateral Reviews = CDAs = DELAYS (Mostly For Jumbo)
The appraisal review requirement is one of the reasons why jumbo loans take at least a week longer to close than conforming (Fannie/Freddie) loans.Read More
Tag Archive for: appraisal conditions
Appraisal Condition/Health & Safety Issues to Watch For!
Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting conditions called out by appraisers that will either cost too much to repair, delay closings, or kill deals altogether. Our Appraisal Manager, Jennifer Muzzall, provided […]Read More
Appraisal Conditions and Health & Safety Issues to Watch For!
Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting conditions called out by appraisers that will either cost too much to repair, delay closings or kill deals altogether. Our Appraisal Manager, Jennifer Muzzall, provided […]Read More
Why Underwriters Request Inspections; Handyman Before Appraiser
We recently had an “as is” transaction blow up because the appraiser called out significant wall cracks and dry rot. Appraisers can turn a blind eye to minor deferred maintenance, but they have to call out major (visible) items or they will lose their license. When our underwriter saw our appraiser’s photos, she asked for […]Read More
Since its formation in 2006, JVM Lending has been committed to reinventing the mortgage lending model in order to provide outstanding service, low rates, and some of the fastest closing times in the industry.