Dear Preferred Mortgage Brokers,
As we are well aware, the real estate market in
Florida has changed very quickly, and in a very short amount of
time. In order to continue to enjoy our proven record of success in Florida, it
is critical that we constantly review our process and make changes where
necessary to protect the portfolio and the ability to offer the vast array of
products that we offer.
In order to ensure accurate appraisals and a positive
customer experience, we are testing a change in the appraisal process.
Effective with applications received on December 3, 2007, we will
no longer accept a broker fee appraisal. We will be doing complete Appraisals
on all loan submissions, which will include an interior inspection on all
transactions. The fee for this appraisal will be $325.00 paid at closing. If
a loan does not close, you will not be responsible for the appraisal fee to Wachovia nor will your
borrower.
It is important to note that our upfront fee structure
of a $100 non refundable fee will remain in effect to be credited towards the
$410 processing fee. Our Appraisal Department’s also has a commitment to
provide you fast and accurate service in determining your borrower’s values and
is staffed and ready to provide you excellent service including our promise to
contact your borrower/realtor within 24 hours and an overall customer wait time
of no more than 6 days.
We appreciate your support in what we have worked to
build. We are committed in making the loan process as positive as possible for
you, and your customer.
Please do not hesitate to contact Fran Erdle @
727/458-2836 with any questions or concerns.
Courtney McIntyre
Loan Rep
Assistant
Wachovia
Tampa Loan
Center
Ph. # (813)
282-6011
Fax # (210)
257-2361
Cmcintyre920@worldsavings.com