I received an application for the purchase of a home from a young women who was purchasing for the first time. We processed her loan, obtained a mortgage commitment subject to a qualified appraisal.
We were all set to go to the settlement table except for one item. The appraisal was completed & sent in to our department for final review. There were some questions that required a few comments for the underwriter to sign off on. I contacted the appraiser to let them know what we needed & they explained how they did not understand why we needed those items addressed but would get it done.
When we received the information it was sent to us in a "memo" fashion, not as requested, and with some disgruntled language to go along with it. Well this triggered some serious questions about the overall appraisal.
Now, to make sure we covered & protected Superior's interests, we needed another opinion, this meant ordering another Appraisal! The settlement is in 3 days! I only have 24 hours to get a brand new appraisal with a new Appraiser!
How am I going to get a new appraisal done....I contact the Real estate agent who goes to his broker who gets a favor done. They stated they could do it!
We received the new Appraisal by 1:00 the next day; it is signed off on by 2:00 & the loan is in our closing department by 3:00.
Did I mention this a Friday afternoon & settlement is on Monday morning at 9:00 am and the money we provide for settlement is taking "extra" long to get there?
The Title company received the papers & money by the time settlement occurred & I now have a yet another Happy Client!!
The "details" are just as important if not More than the interest rate you receive on your mortgage. This is just one sample of many things that can happen. It pays to work with someone who "Can get the job done" even under seemingly impossible situations!
Call me to represent you in your next mortgage transaction!
