Coalition of individual appraisers working together to unite, promote and protect the collective interests of all appraisal professionals in Virginia; to promote needed changes in laws, rules, regulations, policies and standards affecting all appraisers in Virginia; to observe and report the actions of regulatory, legislative, oversight, and standards-setting entities of the Commonwealth.
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VaCAP has learned from one of our members, BB&T will be following the Veterans Administration Fee Schedule moving forward. They will also being reimbursing appraisers for all upload fees. This is exciting news. Please share with your contacts and clients. See the announcement below.
To: BB&T Approved Mortgage Appraiser
Continuing our commitment to compensate appraisers with fees which are customary and reasonable, BB&T utilizes the Veterans Administration’s published fee schedule as a foundation. We wish to inform you that we are adjusting our mortgage fee schedule to remain consistent with recent fee increases announced by the Veterans Administration to certain states in our lending footprint.
In addition, we are updating the mortgage fee schedule across the entire lending footprint in order to reimburse our approved appraisers for increased costs associated with utilizing our mortgage software programs, AppraisalPort.
Both of the aforementioned changes will be implemented for mortgage appraisal orders ordered on or after August 13, 2018.
Our mortgage assignment process continues to allow for an order to be rejected, accepted, or accepted with conditions. All requests for a fee change will be considered for assignments that require increased time, difficulty and scope of work, following regulatory requirements.
If you have any questions regarding these fee changes, please contact BB&T at AppraiserRegistry@bbandt.com.
AppraisalPort technical support is available by calling 888-963-3330 (M – F 7 am to 7 pm CST) or via email at firstname.lastname@example.org.
We hope this communication is of help. We will continue to work to remain transparent with our fee calculations as a part of our efforts to endure a fair and competitive environment. On behalf of Real Estate Valuation Services, thank you for your continued processional partnership.