Previously issued appraisal requirements for single-family loans that are guaranteed by the Department of Veterans Affairs have been extended by two years.
Back in June 2015, VA issued Circular 26-15-12 outlining new requirements for Lender Appraisal Processing Program and Servicer Appraisal Processing Program staff reviewers.
At the time, the department unveiled its automated appraisal management service for use in enhancing the appraisal review process prior to issuance of the Notice of Value.
Source: Mortgage Daily
