Dear Valued Partner,
On Sep 18, 2009, HUD released new requirements (Mortgagee Letter 2009-28) on ordering FHA appraisals. For all Case Numbers assigned on or after 02/15/2010, the Mortgage Brokers and Commission-based Lender Staff are prohibited from ordering Appraisals.
Sun West has implemented the above Mortgagee Letter and streamlined the process while ensuring proper compliance. SunSoft Online (www.reversesoftonline.com) allows you to place the Appraisal Order request online with a click of the button.¬†
Go to Vendor Order link in top right hand area of the screen after creating the loan.
The Vendor Order screen provides you the ability to request for Appraisal, Title, and Escrow through SWMC. In the screen, enter the Credit Card details to which the appraisal fee will be charged and hit on Save.
After saving the credit card details, click on Request Appraisal to place an appraisal order request.
The system will now automatically post the order request and confirm the date request was posted.
Click on Print to generate the Appraisal Order Authorization Form. Appraisal Order Authorization form must be completely filled, signed, and faxed back to (206) 202- 2472. You may also email the signed form to Accounting.Appraisals@swmc.com.¬†
If you have any questions, please contact your Account Executive at (800) 453-7884.¬†
Sun West Mortgage Company, Inc.
|This information is provided as information for licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans subject to approval. Certain restrictions may apply. Program Rates, Prices,¬†Guidelines, Fees, Costs, terms and Conditions¬†are subject to change without notice.
Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303, Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884