I just had an interesting issue come up on a loan.  Just wondering if any of you have had a similar experience. This is an FHA loan that I brokered and it was declined by the lender due to property issues.  Another lender looked at it and they accepted the property with additional work requirements.  We ordered closing documents and the closer said they couldn't do the loan because the appraisal had been paid for prior to the expiration of the time limits on their disclosures (the four day rule).  This loan had been originated 45 days prior to submission to them and their disclosures going out.  I hadn't collected the appraisal fee from the borrower and paid it out of my own funds and because I could prove that they moved ahead with closing.  But they are telling me that they wouldn't have if the borrower had paid for it even though it had been transferred and been disclosed by the other company.  I see this as a huge detriment to brokering.  I don't know what stance other lenders are taking.

I know this is old and you probably know by now, the new Rules on FHA appraisals. This should not happen anymore.  You can go on the FHA websit.

As long as the client has sign the disclosure all bets are off for the four day rule. 

I am sorry but everything you are saying if you are with a good Lender this should not happen.  We are a Direct lender and I had a FHA Purchase High Balance close under 25 days last month. You have to educate yourself and know how to play the game.  With all the new rules this will either break you and you will leave the business or make you and you will stay.  It is your choice read everything that comes across your desk or email. Do not set aside.