The loan was rejected because of value and the condition of the property. The condition that caused the adjustment is listed in the appraisal. Once the conditions are corrected, the value will be adjusted by the appraiser and we will reconsider the loan.
Westmoreland Federal Savings only uses State Certified Appraisers.Appraisals are used to determine the value of the property. Condition of the property is a factor in determining the value. Appraisals are never used as a home inspection. The applicant’s appraisal was used for its intended...
purpose which is to determine the value. We have provided the applicant with a copy of the appraisal. There is no other correspondence that list any conditions of the property that were not listed in the appraisal as the applicant stated in his letter to you. Unfortunately, we could not approve his application for a mortgage loan as applied for due to the value and condition of the property. We believe that we have an option that might work for the applicant which would require the correction of the deficiencies listed in the appraisal. We are most willing to discuss this matter with the applicant to determine if the amount we could lend would meet his needs. David * N[redacted]PresidentWestmoreland Federal Savings[redacted] [redacted] CONFIDENTIALITY NOTICE: This electronic transmission (including files attached hereto) is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any disclosure, dissemination, copying, distribution or taking of any action in reliance on the contents of this confidential information is strictly prohibited . If you have received this communication in error, please destroy it and immediately notify us by return email. Thank you.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
They still have not stated what the condition of the property was that rejected the loan. The big ticket Item that the appraisail listed he was wrong in his assesment. The electric was not out of date. Are they saying that they rejected the condition of property for a $200 piece of carpet and A shower encloser that all material was bought and ready to install?
Regards,
[redacted]
The loan was rejected because of value and the condition of the property. The condition that caused the adjustment is listed in the appraisal. Once the conditions are corrected, the value will be adjusted by the appraiser and we will reconsider the loan.
Westmoreland Federal Savings only uses State Certified Appraisers.Appraisals are used to determine the value of the property. Condition of the property is a factor in determining the value. Appraisals are never used as a home inspection. The applicant’s appraisal was used for its intended...
purpose which is to determine the value. We have provided the applicant with a copy of the appraisal. There is no other correspondence that list any conditions of the property that were not listed in the appraisal as the applicant stated in his letter to you. Unfortunately, we could not approve his application for a mortgage loan as applied for due to the value and condition of the property. We believe that we have an option that might work for the applicant which would require the correction of the deficiencies listed in the appraisal. We are most willing to discuss this matter with the applicant to determine if the amount we could lend would meet his needs. David * N[redacted]PresidentWestmoreland Federal Savings[redacted] [redacted] CONFIDENTIALITY NOTICE: This electronic transmission (including files attached hereto) is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any disclosure, dissemination, copying, distribution or taking of any action in reliance on the contents of this confidential information is strictly prohibited . If you have received this communication in error, please destroy it and immediately notify us by return email. Thank you.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
They still have not stated what the condition of the property was that rejected the loan. The big ticket Item that the appraisail listed he was wrong in his assesment. The electric was not out of date. Are they saying that they rejected the condition of property for a $200 piece of carpet and A shower encloser that all material was bought and ready to install?
Regards,
[redacted]