IMPORTANT: Appraisal Updates
CDA Due Dates
During the height of COVID, many investors removed their acceptance of jumbo loans so CDA requests were vastly reduced. With the return of Jumbo loans, there has been a record volume of CDA requests, and turn times have been impacted. When placing a CDA order, please use a 2 business day turn time excluding the date the CDA is ordered. Clear Capital will not assign the order until it is paid with the Original Appraisal uploaded to the appraisal order in Mortgagebot. The actual turn time will be noted once Clear Capital locates an accepting appraiser.
How to determine the Appraisal Fee for Disclosure
To improve the timeliness of assigning orders to an appraisal vendor and given the limited number of appraisers with the current demand, FLCBank recommends the following:
Brokers need to review the property details and values compared to the vendor Fee Schedule…..