Department of Veterans Affairs Seal
DEPARTMENT OF VETERANS AFFAIRS
Regional Office
PO Box 100023
Decatur GA 30031-7023
www.vba.va.gov/ro/atlanta/rlc



March 11, 2008
Loan Guaranty Bulletin 261-08-02
To:   LENDERS AND SERVICERS
Subj:   APPRAISAL TIMELINESS AND FEE REVIEW

Our office asks your cooperation in providing the following information. This information will assist us in providing better service to veterans and program participants.

Please indicate the average number of days it takes for completion of a conventional origination loan appraisal in the table below. The number of days should be calendar days from the date of assignment until the date of receipt of the completed appraisal report. In the absence of any automated tracking system that could specify this information, we ask for your best estimate. This survey is limited to full interior inspection purchase and refinance appraisals, not drive-by, limited review, or liquidation appraisals. If any field does not apply to your organization leave it blank.

State

Average days to complete a conventional origination appraisal

Georgia

 

North Carolina

 

South Carolina

 

Tennessee

 

Please indicate the average amount you are being charged by individual appraisers for the following services in the conventional market in the table below. Please do not consider any special arrangements (volume discounts) you have with appraisal firms. If any field does not apply to your organization leave it blank.

State

URAR (Fannie Mae 1004)

Condominium (Fannie Mae 1073)

Small Residential Income (Fannie Mae 1025)

Manufactured Home (Fannie Mae 1004c)

Partial Releases

Late Payment Fees

Repair Certification Fees

Mileage Fees

GA

 

 

 

 

 

 

 

 

NC

 

 

 

 

 

 

 

 

SC

 

 

 

 

 

 

 

 

TN

 

 

 

 

 

 

 

 

Please return to us by April 11, 2008.

Company name and address: _________________________________________

Fax: 404-929-5392                                        Email: 16/Correspondence@vba.va.gov

Regular Mail: Atlanta Regional Loan Center, PO Box 100023, Decatur GA 30031-7023



Loan Guaranty Officer Signature Block
THOMAS H. BUFFTON, JR.
Loan Guaranty Officer