It is important to note that all these steps must be completed prior to submission to underwriting to avoid additional delays.
Aside from FHA appraisals (see below) there are no transferred appraisals allowed for broker or Jumbo products.
- Transfer/Assignment letter from current lender to Gold Star (if possible)
- PDF and XML version of the appraisal – must be sent to the START team for SSR’s in Gold Star’s name prior to submitting to underwriting.
- Proof of payment from the transferring lender (if no paid invoice, borrower will need to be charged in advance to pay the prior lender/AMC)
- Air/Compliance Cert
- Transferred appraisals cannot be extended, rebutted, recertified or amended. A transferred appraisal that is subject to can have the final inspection ordered through Gold Star.
- FHA case number and appraisal must be transferred to Gold Star in FHA Connection.
- If different borrower, disclose the cost of the appraisal as Gold Star will have to refund to the prior lender to reimburse original borrower.
- PDF of appraisal and XML – must be sent to the START team for the EAD transfer to Gold Star name prior to submission to underwriting.
- VA Transfers require a written request from the Veteran to the previous lender.
- The previous lender will need a Gold Star point of contact Name, Number and Email (firstname.lastname@example.org) and our VA Lender ID.
- Once the LIN has been reassigned to Gold Star, our SAR must reissue the NOV in our Name.