The following is an email sent by Don Lee, IFA, an appraiser in Belleville, IL, to his client, an east coast lender. The mortgage broker was local and the Invoice was 3 months past due.
I have filed a complaint with the Veterans Administration and have forwarded on, this email to them. In the next several days I will be contacting my Attorney and my Collection Agency regarding an outstanding Invoice. I'm in amazement regarding Mr. (mortgage broker) and your organizations Business Attitude regarding payments to the Appraiser. Tell me what other companies in America pay their Vendor services only when and if the company gets paid?
Please be reminded that the Lender is required to collect the Appraisal Fee at the time of application, Line 37, form 26-1805-1 and forwarded on the Appraiser on receipt of "Certificate of Reasonable Value". ( I have just started inserting this language on all VA Invoices)
I'll be contacting the Illinois Department of Professional Regulation and file a complaint on (Your Mortgage Company) and (your mortgage broker), where you are both licensed to do business in the State of Illinois. I will advise them of your business practice of only paying Appraisers, if and when you get paid.
bcc: Southwestern Illinois Appraiser Users Group
Don received an email within hours from the mortgage company, saying "the check will be in the mail tomorrow" and has now received the check.
Don asks; "Why are some VA Lenders so lax that they require us to remind them to collect fee at time of application, when we make calls for payment? I live next to Scott Air force Base, so 60% of my business is VA. "
Don M. Lee, IFA
Belleville, IL 62223
Ph. 618 397-1082
Fax 618 397-1092
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