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Topic 5. Notice of Value Timeliness Expectation
July 22, 2019
This chapter has been revised in its entirety.
a. Importance of Prompt Issuance of an NOV
VA is committed to providing expeditious service to Veterans. It is advantageous to Veterans to receive the NOV well ahead of the scheduled loan closing.
b. Timeliness Expectation
The SAR must issue the NOV within five business days from the time the completed appraisal is uploaded into WebLGY, unless there is a delay beyond the SAR’s control. Any delays should be explained in WebLGY notes.
c. Lender Delays
LAPP lenders are responsible for resolving any timeliness problems involving authorized agents and branch personnel.
d. Notification to an RLC if the Appraisal is Late
The RLC should be notified when appraiser timeliness expectations are not being met.