Doesn't it seem like the lending underwriter is always out to get you?
At Seward Real Estate Services, we understand that sentiment and continually strive to produce appraisal reports that are not only 100% USPAP compliant, but that are also review-proof! We understand what the lender is looking for and we make sure to cater to them, so that you don't have to!
The foundation of our research is based on fourteen years of appraising experience and twenty-five years of housing market experience. With this background, we begin to compile the data for each individual report, carefully pouring over all relevant information in order to produce a list of the most comparable sales in the neighborhood.
We generally put a few extra comps into each report to ensure that the subject property is as adequately bracketed as possible. We make sure to bracket all aspects of the house from size, to year-built to number of bedrooms.
Once the report has been compiled, each and every report is reviewed to make certain that all the i's are dotted and that all the t's are crossed. That way, when you send the report to the underwriter, you have a greater chance of pushing it through without any "prior to funding conditions
Perhaps you remember the headlines?
California Appraiser Sues WAMU, First American, eAppraiseIT, and LSI - Refused to check "Stable"
It was about Jeniffer Wertz, a California licensed real estate appraiser, who filed a 12 count lawsuit against Washington Mutual Bank, First American Corp., eAppraiseIT, Lenders Services (LSI), FNIS, Inc, and Susan Richter.
Appraisal Scoop has learned from Jeniffer Wertz that . . .
"The case has been settled to mutual satisfaction of the parties."
As is usually the case in these instances, that's about ALL that any of the parties can say. I'm guessing that the amount of settlement and the terms of the agreement will be sealed by the court. Still, I view this as victory for the "little guy" (or girl) and offer my kudos to Jeniffer for standing up for ALL of us!
I've abstrated and edited portions of the original lawsuit for ease of reading on this blog. The complete, un-edited document, can be downloaded here: Download WertzPrimarySuit.pdf
Related News Stories:
Author: Brian J. Davis - Brian Davis & Associates - Brian has over 24 years of appraisal experience in Central, IL and hosts the Appraisal Scoop blog and the WinTOTAL Users Group an email forum for appraisers
Staff Profiles | Contact Us | What is an Appraisal | EMPLOYEE LOGIN | Mortgage Calculator | FOR CALYX USERS | About Us | Property Tax Appeal | Faxing an Order | Find a Lender | Link to us | Qualification | Estate Appraisal | Divorce Appraisal | Find an Appraiser | IN Coverage Area | Client Login | Order an Appraisal | Prepare for an Appraisal | Home Buyer Checklist | Download Adobe Acrobat | Tell a Friend | Real Estate News | FAQ | Our Technology | Press Release | Why get an Appraisal | Services | Home | Appraisal Video | Inspection Video | RAA Designation | Fax an Order | My Blog
Copyright © 2010 Seward Real Estate ServicePortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map