I've noticed some lenders (wholesale brokers mostly) with the ability to still order their own FHA appraisal, but banks and many brokers no longer have the ability. Not sure if this is a underwriting or end loan selling restriction, but it's here as such.
I've had three deals in recent weeks fall subject to abnormally long timelines and exceptionally low values due to out of market appraisers being called in to an unfamiliar area as due to protocol and being "next on the list" for the service.
It is what it is.
Increase has caused some delays.
Tibbles Team, Tom & Rose (734) 812-6745
The only rule that may delay the borrower (or their agent) from receiving a copy of the appraisal once completed is the requirement of the lender to provide a copy at least 3 days before closing. Which doesn't give the borrower, or their agent, much time to dispute the appraised value, re-negotiate, or adjust their action and/or options.
It is also becomming more common for LOs and MBs to shop lenders for higher YSP of FHA transactions and hold onto the report until the highest YSP is found. Many are also shopping appraisers for FHA appraisals that hit the value needed using the same case # assigned, or by telling the appraiser they will provide the case number later when recieved.
With the new lending rules preventing most lenders from selecting their own appraisers, I expect we'll see some appraisals following VA timelines -- up to two weeks.