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I am in the process of buying a home, the VA appraisal was done last thursday 5/29, USAA received it on 5/31. I thought that I would have access to see if there are any issues for the seller to take care of immediately. I was told that the appraisal has to be reviewed before I am able to get a copy. My question is: why can't I see it while it is being reviewed? It seems that a week is an excessive delay. The sellers are waiting to move forward with ohter inspections until after seeing the appraisal. Meanwhile, my Morgage Processor only seems to answer questions/emails when convenient, I have called several times, always have to leave a voicemail, and have never gotten a call back. I always email after calling, and get some email responses. I am starting to feel like I made a wrong choice going with USAA, which is really making me loose faith since I thought they were the best! I really do not appreciate being treated like this.

6 REPLIES

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Myself and dontlike (my wife) are feeling the same as you. However, I was able to get ahold of a resolution team member who was able to tell me what the house appraised for and if there were any NOV (don’t know what that stands for). We were back on track however our processor isn’t happy with us and wants out.

 

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ImpaitientlyWaiting and Frustrated w/ Mort;

 

Welcome to the USAA Member Community Forum.

 

Thank BOTH of you for your service.

 

Now as for your posts and questions.

 

  1. Unfortunately you can't get a copy of the VA Appraisal until the the Lender gets their copy first! Once the appraiser uploads the VA Appraisal Report in the VA Portal, it is available to the Lender that same day. The Lender can then send you a copy of the VA Appraisal.

  2. The "standard" wait time for VA Appraisals to be returned to the Lender as well as the fees for these appraisals differ from State to State based upon the VA supporting Regional Loan Center, given responsibility for that particular States VA Loan related business. Lenders approved to participate in VA's Lender Appraisal Processing Program (LAPP) are generally able to expedite the processing of VA appraisals. For further information about VA Appraisal Fee Schedules and Timeliness Requirements can be found here.

  3. One final note regarding your VA appraisal, even though you paid for your appraisal, the appraisal is actually the property of the lender. On the front of the appraisal report it will specifically state who the appraisal was made for with your lender's name on the report. However, you have the right to receive a copy of the appraisal report and you will receive a disclosure from your lender informing you of your right to obtain a copy. A mortgage lender is required to provide you with a copy of your appraisal. On January 18, 2014 a new rule went into effect. Borrowers will automatically get free copies of appraisals, even if they don’t request them. Also copies are to be provided no later than three days before loan closing.

  4. The term NOV stands for "Notice of Value". More information about VA Notice of Value can be found here.

I hope I have answered your questions.

 

Thank you for participating in the USAA Member Community Forum.

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The issue is that the lender, USAA, has had the appraisal since 5/31 and it is now 6/5. Initially I was told that I "might" receive it by 6/6. Today I was told that I should have it by 6/12... See my frustration? 

 

I know that they will eventually give me a copy, it is just the delay without valuable reason.

 

Thank you for your assistance and additional information. 

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It has been almost a month since I was told that my appraisal was ordered. To this date I still have not heard anything about the appraisal. I wish I could get a straight answer to see if I should start looking for financing elsewhere or continue the process with USAA. 

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Tray1,

I wanted to check in and get an update on your situation. Please let us know how your appraisal went and if there is anything we can do for you. Thank you for posting in the community!

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I to agree with you and am completely frustrated.  Our VA appraisal was done on May 16th and not uploaded to USAA until June 1st.  It is now June 5th and we still have not been given access to it - 4 full business days later.  Our Mortgage Processor just keeps telling us "I'll get it to you as soon as underwriting is done with it".  This is the first and only time I have EVER had a mortgage company keep the appraisal under wraps.  Any other home purchase I have been involved in has always given it to me the day they got it - even prior to underwriting reviewing it.  Guess that's the difference between a member driven credit union and USAA.  

 

I have been a USAA Member / insurance policy holder for 23 years and typically I sing the praises of USAA - the insurance and banking side have been a dream all these years and all these duty stations later - but this mortgage process is definately trying my patience.  I feel like there is a large disconnect between this mortgage group and everyone else.