DEPARTMENT OF VETERANS AFFAIRS

DEPARTMENT OF VETERANS AFFAIRS

REGIONAL LOAN CENTER

PHOENIX, AZ

VA FEE PANEL

APPRAISER'S HANDBOOK

August 2005 Edition

Table of Contents

Chapter

Topic

Page

Preface / Introduction / VA Expectations

4

VA Contact Information

5

Chapter 1: GENERAL INFORMATION

8

C&V Consolidation and Restructuring

8

Appraiser Availability and Communication

9

Vacation Notices

9

Illness or Emergency Notices

10

Conflict of Interest - VA Policy

10

Chapter 2: THE APPRAISAL SYSTEM (TAS)

12

The Assignment Process

12

Monitoring Your TAS Account

13

Chapter 3: E-APPRAISAL (ELECTRONIC APPRAISAL SYSTEM) & FILE NET 14

Overview of E-Appraisal & FileNet Applications

14

Benefits of E-Appraisal

15

How E-Appraisal Works

15

Creating the PDF Appraisal

15

Chapter 4: TIMELINESS AND REPORT DISTRIBUTION

17

Timeliness Guidelines / RAM Information

17

Delays Requested by Lender or Builder

18

Reassignment of Untimely Appraisals

18

Timeliness & Distribution Guidelines -: E-Appraisal

19

Packaging ? Order of Exhibits - E-Appraisal Cases

20

Chapter 5: FEE APPRAISER RESPONSIBILITIES

22

What Is Expected of the Fee Appraiser

22

Fees and Payment Issues

23

Desk and Field Reviews of Appraisal Reports

24

Quality Control and Standards

24

Contact with Lenders & Other Parties of Interest

25

Chapter 6: LAPP APPRAISAL ISSUES

27

The Role of the LAPP SAR

27

Contact and Cooperation with the LAPP SAR

27

LAPP Reconsiderations of Value

28

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Table of Contents (continued)

Chapter

Topic

Page

Chapter 7: VA APPRAISAL REQUIREMENTS

30

USPAP

30

Selection of Comparable Sales

30

Approaches to Value

31

Appraisal Report Forms

32

Completing the URAR - page 1 (Front)

32

Completing the URAR - page 2 (Back)

36

Use of Assistants

41

Chapter 8: ADMINISTRATIVE ACTIONS

42

Summary of Deficiencies and Corrective Actions

42

Complaints

43

Disciplinary Due Process

43

Chapter 9: LIQUIDATION APPRAISALS

44

Basic Liquidation Appraisal Guidelines

44

Extension of Validity Period

46

Sample Letter - Occupied Properties

47

Request for Assistance - Access to Vacant Properties

48

Liquidation Appraisal Addendum

49

Chapter 10: MANUFACTURED HOUSING ? PERMANENT FOUNDATION

50

Basic VA Requirements

50

Manufactured Housing Summary Sheet

51

Chapter 11: INDIVIDUAL PROPOSED CONSTRUCTION

52

Basic VA Requirements

52

Pilot Program: Appraisal from Model Home

52

Required Certifications

53

ADDENDA: ADDENDA

Table of Contents

54

3

PREFACE

INTRODUCTION

This Fee Appraisers Handbook is intended to supplement the appraisal requirements and guidelines provided in the Lenders Handbook (January, 2001 revision and subsequent changes). Where there is any inconsistency between this Fee Appraisers Handbook and the Lenders Handbook, the Lenders Handbook will be considered the controlling document. In cases where the Fee Appraisers Handbook and Lenders Handbook vary as to standards of performance, the more stringent requirements will govern.

STATEMENT OF VA EXPECTATIONS

In addition to quality appraisal reports completed in timely fashion, the Department of Veterans Affairs expects and requires the highest standards of professional conduct, courtesy, appearance, and customer service from its Fee Panel members. Although you are independent contractors, remember that in the eyes of the veterans, lenders, Realtors, and other clients with whom you come in contact everyday, you represent the VA. While we recognize and respect your right to conduct your appraisal business as you see fit, be assured that VA likewise has the right -- and the responsibility -- to ensure that the Loan Guaranty program is administered first and foremost for the benefit of our veterans.

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CONSTRUCTION & VALUATION CONTACT INFORMATION

VA REGIONAL LOAN CENTER Construction & Valuation (262)

3333 N. Central Avenue Phoenix, AZ 85012-2405

ADMINISTERING THE VA HOME LOAN PROGRAM IN ARIZONA, CALIFORNIA, AND NEVADA

KEY C&V CONTACTS DIRECTORY and WEBSITE ADDRESSES

updated AUGUST 1, 2005

TOLL-FREE PHOENIX REGIONAL LOAN CENTER 1-888-869-0194, then Press 6, or dial Ext. 3050

PHOENIX REGIONAL C&V SUPPORT DESK VAVBAPHO/RO/CVGC@vba. Fax: (602) 627-3222

MAIN WEBSITE ~ VA REGIONAL LOAN CENTER:



[ ON HOME PAGE CLICK: CONSTRUCTION & VALUATION, LISTSERVE IS DISCUSSED WITH A "CLICK HERE" TO REGISTER UNDER SPECIAL ANNOUNCEMENTS, FINALLY INPUT YOUR EMAIL ADDRESS AND A PASSWORD FOR FREE SUBSCRIPTION TO THE LATEST VA BULLETINS, TRAINING FLYERS, AND OTHER LGY PROGRAM ANNOUNCEMENTS! ]

CONSTRUCTION & VALUATION WEBPAGE:

VA APPRAISER'S HANDBOOK WEBPAGE: . vba.ro/phoenixlgy/va_partner.htm

VA LENDER'S HANDBOOK WEBPAGE: . vba.ro/phoenixlgy/va_partner.htm

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