What does a staff appraisal reviewer do?
Responsible for reviewing and editing home appraisals submitted by field staff while ensuring exemplary quality, adequate attention to details, and being able to follow specific client instructions.
How do you become a staff appraisal reviewer?
In order to be eligible to participate in LAPP, lender’s staff appraisal reviewer must be a full-time employee of the lender and have at least 3 years of experience of a type which qualifies him/her to competently perform administrative appraisal reviews in conjunction with underwriting loans for VA loan guaranty …
What is SAR in appraisal?
Staff Appraisal Reviewer (SAR) Information.
How can I see my VA appraisal?
The only way to check the status of the VA appraisal process and the final report is to check with your lender. Your VA lender will receive a copy of the report – usually electronically – as soon as a Staff Appraisal Reviewer (SAR) has reviewed it.
Do VA appraisals come in low?
Sometimes the VA appraisal is lower than the asking price, and sometimes it is higher. The VA loan guaranty amount is based on whichever dollar amount is lower. When the appraisal is lower than the asking price, it essentially means that the lender does not place a value on the home as high as the seller.
What is SAR certified?
“LAPP/SAR Underwriter Training” is an in-depth, instructor-led online program that will help you become familiar with the duties of a VA LAPP/SAR,recognize the requirements and processes for ordering and reviewing appraisals, and delivering Notices of Value (NOV) to the veteran borrower.
What does a SAR underwriter do?
Students will be able to identify eligible property types, ensure appraisals meet minimum property requirements, review sample documents, common SAR errors and end the class with a test case to reinforce the topics covered.
Do VA appraisers know the selling price?
The VA utilizes the “sales comparison approach” to value. In layman’s terms, that means the VA appraisal value is determined by the final sales prices of similar homes. To arrive at this value, VA appraisers must select comparable sales.
Are VA appraisals more strict?
VA appraisals are much like regular appraisals — an approved appraiser will come out to the house you’re looking to buy and establish its value. The main difference is the VA has stricter guidelines when it comes to houses.