"No News is Good News"In an initial public offering ("IPO"), the interval between when a company files its paperwork with the SEC and the SEC approves it, is known as a "quiet period."
What's the equivalent in residential real estate?
The interval between when the lender's appraiser submits their report, and the lender completes their underwriting process (typically evidenced by something called a "written statement").
Domino Effect
No news on this front is decidedly good news; a phone call from the lender to the Buyer's agent regarding the appraisal can only mean one thing: the appraiser is having trouble establishing the home's value.
That means that the lender doesn't have sufficient collateral, which can cause it to reject the Buyer's loan, which can cause the Buyer's Financing Contingency to fail (alternatively, the parties can renegotiate the purchase price).
As I said, no news is good news!
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