The Federal Housing Administration (FHA) announced that it will be hosting an industry briefing conference call for appraisers and underwriters April 16 to provide industry participants an overview of the agency’s recent appraisal-specific changes.
As announced on March 18, the FHA published its appraiser and property requirements in the “Origination through Post-Closing/Endorsement for Title II Forward Mortgages” (Origination through Endorsement) section of its “Single Family Housing Policy Handbook” (SF Handbook; HUD Handbook 4000.1).
In addition to revisions to language to achieve clear, direct and consistent language and terminology, the newly published Appraiser and Property Requirements section contains key policy revisions.
Appraisers will use these policies when performing appraisals, including determining property eligibility, for mortgages with FHA case numbers assigned on or after June 15.
FHA also recently published its supplemental “Single Family Housing Appraisal Report and Data Delivery Guide.” Although not part of the SF Handbook, the guide works in conjunction with the appraiser-related policies contained in the SF Handbook’s origination through endorsement section.
Available from FHA’s SF Handbook References Web page, the guide includes all of the appraisal report and data-format requirements and instructions for appraisers to complete, and for mortgagees to deliver, appraisal reports and data to FHA for an FHA-insurable mortgage.
With these publications, FHA now has a complete set of policies and requirements, in a consolidated form, that most commonly are used by both appraisers and underwriters.
Individuals interested in participating may join the conference call April 16 from 2-3 p.m. EST using the dial-in number (866) 254-5938 and access code 355444.
FHA encourages attendees to thoroughly review the related content on the organization’s website and have access to this information during the call.